Chicago Startups Raised Over $1B in 2013

by Adam Calica
January 16, 2014

The 2013 startup report, released today by Built In Chicago, includes yearly data proving that the growth of Chicago’s digital ecosystem isn’t slowing down any time soon. In fact, digital startups aren’t just keeping pace with past performances, but are wildly exceeding them: over $1 billion was raised in 2013, a 169 percent increase over 2012.

Additionally, the 18 digital companies that were acquired and the one that went public generated more than $3 billion, a huge spike compared to the $700 million generated from exits in 2012. To conclude, 2013 was the best year to date for Chicago’s digital ecosystem.

Big players last year included healthcare tech company Accelera Innovations, which raised $200 million in October, and Textura, a collaboration platform for the construction industry that gave Chicago its first and only IPO of 2013.

But it’s not just the big guys that made up 2013’s outstanding stats: nearly 78 companies each did their part and raised $1 million or more in capital.

These companies represent all digital sectors, including 38 software companies that made a big local impact with $388 million raised in total. Forty-one consumer web businesses, which in total raised $161 million, also added hard-earned pieces to the overall puzzle.

And the world is taking notice as signified by the 70 VC firms outside of Chicago investing in local companies in 2013. That’s a 40 percent increase over the number of outside investors who were moved to action in 2012.

It’s no wonder that Chicago’s digital ecosystem is drawing more attention as a whole: the community’s current and past accomplishments, like launching a new digital company every 24 hours in 2012, demand it.

Chicago startup guides

Best Companies to Work for in Chicago
Coolest Offices in Chicago Tech
Best Perks at Chicago Tech Companies
Women in Chicago Tech