Tech roundup: Avant crosses $3B in loan originations in three years, Cleversafe's $1.3B price tag, and more

February 25, 2016

Three for three: Avant breaches $3B in loan originations just three years after launch

According to a press release, Chicago tech darling

Located on Chicago's scenic Riverwalk. It’s home to nearby trendy restaurants, a thriving startup community, and public transportation.
today surpassed $3B in loan originations — an impressive feat for any lending platform, let alone one of its youth. “This is a huge accomplishment and speaks to the market demand for affordable and accessible personal loans. Avant has achieved massive growth while staying focused on our mission of expanding responsible access to credit for middle-class consumers. More than 480,000 loans have been issued through Avant and we expect that number to increase dramatically in the year ahead,” says Al Goldstein, CEO of Avant in the statement. “To reach $3 billion in originations with an average loan size today of $8,000 illustrates the consumer need for this type of product.”

IBM reportedly bought Chicago’s Cleversafe for $1.3B

According to a Bloomberg report citing an IBM annual filing with the SEC, IBM’s October acquisition of Chicago-based

was a transaction that rang up at over $1.3 billion. That news comes in addition to a recent IBM announcement of new object-based cloud storage services brought to life, thanks in large part to its acquisition of Cleversafe. The services will help clients store and organize increasingly larger volumes of big, nebulous data by providing enterprises with what it calls “hybrid cloud storage-as-a-service solutions.” [Built In Chicago]

Fooda picks up nearly $6M in new funding

According to a filing with the SEC, Chicago’s

, which provides a catalogue of meal-delivery options of restaurants near your office, has raised $5.9 million in funding, with a total equity offering up to $10 million. [Chicago Tribune: Fooda loads up plate with $5.9 million in funding]

Waud Capital raises more than $1B in latest fund

According to Crain’s, Chicago’s Waud Capital Partners have raised its fourth and largest fund yet, reeling in $1.05 billion in investments. That’s twice as much as its previous fund — a $487 million fundraising effort back in 2011. [Crain’s: Waud Capital raises biggest fund yet]

HomeSuite makes its way to Chicago

This week, HomeSuite — a San Francisco-based company that allows consumers to rent out furnished housing on a monthly basis — announced that it has expanded the service to Chicago. [Chicago Inno: HomeSuite Expands to Chicago to Let You Rent Furnished Apartments by the Month]

Chicago’s STATS to partner with European Broadcast Development

This week, Chicago-based

We're in the heart of downtown Chicago, steps from the Riverwalk, bars/restaurants & cultural attractions, complete with a CTA stop in the building!
(a leading provider of sports technology, data, and content) announced a partnership with European Broadcast Development in order to bring performance data to clubs and media partners Serie A TIM, a tier of Italian football. The partnership, which also includes Prozone — a sports performance analysis company — expands broadcasters' in-game data and and graphic capabilities. [Read more here]

Kapow’s key new hire

recently announced the appointment of a key, C-suite officer in former Orbitz Worldwide CPO Chris Brown. “We’re thrilled to welcome Chris to Kapow. His unique outlook on the link between the travel industry and the corporate events industry perfectly aligns with our vision,” said Marc Halpin, Kapow CEO and co-founder in a statement. “His solid expertise in marketplace technology and user experience will enable us to better serve the needs of our corporate customers and ensure their events deliver a high return.”

Kristi Ross joins Textura's board of directors

Yesterday, construction industry collaboration solutions provider

announced that dough, Inc. co-CEO Kristi Ross has joined its board of directors. “Kristi is bringing to our organization a valuable perspective shaped by her experience in building and leading innovative, technology-forward companies,” said Textura interim CEO Dave Habiger. “She’s a fantastic addition, and we are thrilled to welcome her to our Board of Directors.”

DialogTech unveils SourceTrak 3.0

On Wednesday, Chicago-based

— a provider of an end-to-end call attribution and conversion marketing platform — unveiled SourceTrak 3.0, a project two years in the making that helps enterprise organizations take advantage of the digital marketing benefits of call tracking. [Read more here]

Chicago Public Schools introduce computer science requirement to bridge skills gap

On Wednesday, the Chicago Board of Education unanimously decided to add computer science to the list of classes required for graduation for Chicago Public School students, starting with this fall’s incoming freshmen. Computer science classes are currently offered at 107 public schools throughout the city. [Built In Chicago]

NextCapital and Pershing announce new capabilities for digital advice for large institutions


, which provides digital advice for enterprises announced a new agreement with Pershing LLC this week that promises to unlock scalable, personal delivery of advice for larger financial institutions. “Our collaboration with Pershing Advisor Solutions allows institutions to be up and running with digital advice faster, reduce custodial costs, and deliver a high-powered experience for investors.” said John Patterson, Chief Executive Officer of NextCapital in a statement. “Our institutional partners appreciate this given the emergence of digital advice and urgency caused by the pending fiduciary rule,” he added. [Read more here]

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