Vibes brings home $45M to expand global operations
Vibes — a Chicago-based mobile marketing company whose customers include Chipotle, Home Depot and Gap — announced on Wednesday that it has raised $45 million to expand its operations globally. The investment comes from Syniverse, a global technology and services provider for telecommunications providers and multinational companies, in exchange for a minority stake in Vibes. [Built In Chicago]
Northwestern to double computer science faculty
Citing an overload of student demand for computer science classes, Northwestern University is planning to hire 20 faculty members for its computer science department over the next five years. Enrollment in the university’s computer science major program rose from 192 to 345 between the 2013-14 and 2014-2015 school year, with computer science classes growing in popularity among non-major students as well. [Chicago Tribune]
Lupe Fiasco to invest in Englewood and Lawndale startups
The Neighborhood Start Fund — an investment group founded by Chicago rapper Lupe Fiasco — announced this week that it is coming to Chicago’s Englewood and Lawndale neighborhoods. The group, whose goal is to support entrepreneurs in underserved neighborhoods, will start holding pitch competitions on June 17. [Chicago Inno]
LGS picks up $5M to bring tech in-house
On Wednesday, online consignment shop Luxury Garage Sale announced that it has raised a $5 million Series A to open two new brick-and-mortar storefronts and bring its tech team in-house. The round comes at the tail end of a stellar 2015 that saw the company raise $3 million in seed funding. The round was led by Boston’s Data Point Capital, who were joined by Chicago Ventures, Hyde Park Angels, Pallasite Ventures and Trunk Club co-founder and CEO Brian Spaly. [Built In Chicago]
U. of C. announces Innovation Fund winners
On Wednesday, the University of Chicago’s Innovation Fund awarded proof-of-concept capital to three university-based startups. BallotReady, which educates voters about candidates in local elections; Infrared Polymerase Chain Reaction, which helps medical professionals detect contagious pathogens and Rzhetsky Language Science, an automated linguistic analysis tool, will all receive up to $250,000 from the fund.
Y Combinator darling is coming to a park near you
On Tuesday, the Chicago Area Runners Association (CARA) announced a new partnership with TRAC — the Chicago-based Y Combinator startup behind a cloud-enabled timing device for runners. TRAC will be timing runners in Humboldt Park, Warren Park and Washington Park on Saturday mornings as part of CARA’s Go Run series. [Chicago Athlete Magazine]
Smart Chicago Collaborative leader joins Ad Hoc
Dan X. O’Neill is stepping down from his role as executive director of the Smart Chicago Collaborative to join Ad Hoc — a digital government services firm founded by veterans of the HealthCare.gov cleanup. O’Neill’s new role will be director of business strategy and product development. [Chicago Tribune]
Market Track sweeps up Channel IQ
Channel IQ — a Chicago-based provider of pricing data — announced on Wednesday that it had been sold to Market Track — a competitor with a substantial Chicago presence. In an interview with Crain’s, Channel IQ said it had received four acquisition offers but ultimately decided to sell to Market Track. Terms of the deal were not disclosed. [Crain’s]
Chicago tech companies raised $52M in May
Even as Chicago’s summer weather seems to be heating up, the funding environment is showing signs of cooling down. During the month of May, Chicago digital tech companies raised a collective $52 million. Wickr, a secure communications startup, was the month’s biggest overall fundraiser, with a total of $34M in new funding. Read on for more on the month’s biggest fundings.
Images via Shutterstock and listed companies.
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