Tech roundup: Corazon Capital's $40M funding, news from 1871 and more

March 16, 2017

Livongo Health, the consumer digital health company founded by Chicago entrepreneur Glen Tullman, announced on Thursday that it has raised a $52.5 million round of funding from General Catalyst, Kinnevik and Microsoft Ventures, among others. The funding will be used to accelerate the company’s growth in the diabetes management space, expand its solution to cover other chronic conditions and to move into international markets this year. [Built In Chicago]

 

Corazon Capital hauls in $40M for startup investments

Corazon Capital just got a lot more money to invest in the Chicago tech ecosystem. The Chicago-based VC firm, which was co-founded by Sam Yagan and Steve Farsht, has previously invested in a number of successful local startups including Mac & Mia, Shiftgig, Catalytic, Inventables and SpotHero. [The Wall Street Journal]

 

SpotHero simplifies parking reimbursement

On Wednesday, the Chicago parking startup announced its new SpotHero for Business solution, which integrates with expense management platforms like Concur, Expensify and Certify to automatically submit parking receipts. The in-app solution lets employees switch between personal and corporate accounts with different payment methods. 

 

MATTER’s impact on the Chicago healthtech scene

Two years after launch, MATTER is already seeing serious results. The 1871-based healthtech incubator is now working with 200 startups, which employ 1,300 people and generated $37 million in revenue last year, according to an announcement issued by CEO Steven Collens. The incubator has also established 70 institutional partnerships, including with 11 health systems and 20 companies spanning the entirety of the healthcare industry.

 

Pearachute turns to parent investors

Pearachute, a Chicago startup that gives parents access to children's classes and activities throughout the city, is turning to the parents who use the platform for investment. As of Thursday morning, its equity crowdfunding campaign has raised more than $158,000 from 196 investors, with 16 days left to go. The company has already raised $1.2 million in seed founding from traditional investors including Sam Yagan. [Chicago Tribune]

 

Chicago nonprofits partner to boost women-led businesses

As application numbers increase for 1871’s highly selective WiSTEM program, the incubator is partnering up with the Women’s Business Development Center to offer additional resources to applicants who don’t make it into the program. The center’s offerings include courses on business planning, mentor access, counseling and financial resources. [Chicago Tribune]

 

J.B. Pritzker is preparing for the governor’s race

This week, Chicago tech investor and philanthropist J.B. Pritzker filed the paperwork to establish a gubernatorial exploratory committee. Aside from founding and running Pritzker Group Venture Capital, which has invested in Chicago technology companies for the past 20 years, Pritzker is a longtime political organizer who served as national co-chairman of the Hillary Clinton campaign in 2008. [Crain’s]

 

1871 has a new entrepreneur in residence

This week the Code2040/Google for Entrepreneurs program announced that Kristen Sonday will be 1871’s next Entrepreneur in Residence. The co-founder of Paladin, a startup that connects attorneys with pro-bono opportunities, will start the six-month residency on April 1. [1871]

 

Colleges team up to keep foreign-born entrepreneurs in Chicago

At a press conference on Wednesday, Mayor Rahm Emanuel announced that five prominent Chicago colleges are partnering with Chicago’s local government to sponsor visas for international entrepreneurs building new startups in the city. By getting higher education institutions to sponsor H-1B visas for entrepreneurs in residence, the city hopes to circumvent tightening quotas for the skill-based visa program. [Chicago Tribune]

 

Alexa, tell Grubhub I’m hungry...

On Wednesday, Grubhub announced the launch of a new skill on Amazon Alexa. Upon activating the skill on their Alexa-enabled devices, customers will be able to re-order any of their three most recent orders — by far a more practical option than browsing its 50,000 restaurants’ menus with a voice interface. [PR Newswire]

Images via Shutterstock and listed companies.

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