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August was an incredible month for Chicago’s tech scene, and September has been just as successful. This month, Chicago startups raised more than $380 million in funding — a definitive increase from some of the slower months we saw earlier this summer.
Last month, Avant alone brought in nearly $340 million worth of debt financing. In September, the online lender snuck in just before month’s end with a another fresh round, announcing an additional $325 million in Series E funding. But even without Avant’s elephantine contributions, the city’s startups still managed to wrangle a respectable $56 million this month.
As Q3 turns to Q4, we'll see if that stream of funding keeps trickling in. Here are the four largest reported fundings in Chicago:
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4. Home Chef, $5M Series A, September 1
Investors: Not listed
Bio: Home Chef is a weekly meal delivery service that delivers specially curated recipes — and the fresh ingredients you need to cook for them — straight to your door. Their menu changes each week, but Home Chef provides you with everything you need to make restaurant-style meals right at home.
In the news: In December of last year, Home Chef raised a $750,000 seed round from investors like Belly co-founder Craig Ulliott and North Pond restaurant owner Rich Mott.
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3. PinpointCare, $11M, September 29
Investors: The funds were raised for its enterprise solution from private investors and existing customers.
Bio: PinpointCare’s Platform-as-a-service application helps streamline the coordination of care for healthcare providers and patients. The company provides bundled payment and care coordination technology, enabling each member of a care team to communicate in real-time to ensure quality healthcare.
In the news: Crain’s reported that the company currently sits at 16 employees, but hopes to be at 20 by year’s end.
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2. VillageMD, $36M Series A, September 17
Investors: Connecticut-based Oak HC/FT led the round, which also saw participation from existing investors.
Bio: Founded in 2013, VillageMD provides primary healthcare practices with management services, using tech-enabled platforms to help providers make data-driven decisions.
In the news: According to the Chicago Tribune, the company — which already works with 400 primary care providers in Indiana and Texas — is planning to expand to other states (including Illinois, Georgia, New Hampshire, and Ohio) in the future.
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1. Avant, $325M Series E, September 30
Investors: General Atlantic led the round, with, J.P. Morgan, Balyasny Asset Management, Tiger Global, and August Capital all joining in.
Bio: Utilizing advanced algorithms and machine-learning capabilities, Avant offers a unique and highly customized approach to the personal loan process. The combination of technology, analytics and customer service capabilities allows the company to provide a simple process for personal loans and line of credit products to borrowers, all entirely online.
In the news: Last month, Avant raised an additional $339 million in debt financing, making it one of Chicago’s fastest growing and most well-funded tech startups of all time.
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