Tech roundup: Reverb kills it, 12 Chicago companies make the Inc. 500 and more

by Michael Hines
August 17, 2017 has an awesome week

Online instrument and music gear marketplace was in the news for all the right reasons this week. It started last Friday with the reveal of Reverb LP, an e-commerce site for music collectors that will specialize in vinyl and other physical music formats. Reverb LP is expected to accelerate the company’s already-rapid growth when it goes live later in the year.

Just a few days later, Reverb announced that it locked down $15 million in new funding. The round's participants included several big names in the tech industry, including PayPal co-founder Max Levchin, former Twitter COO Adam Bain and Shutterstock CEO Jon Oringer. The fresh funds will be used to hire new employees and continue Reverb’s global expansion.

Reverb’s big week was capped off with a spot on Inc. Magazine’s annual Inc. 500 list.


Twelve Chicago tech companies make the Inc. 500

On Wednesday, Inc. Magazine released its annual Inc. 500 list, and 12 Chicago tech companies were on it. The list ranks the fastest-growing privately held companies in the U.S. Rankings are based on revenue growth over a three-year period. Four Chicago companies finished inside the top 50, with Strike Social coming in the highest at number 17. [Built In Chicago]


HealthJoy announces Series A funding

Chicago healthtech startup HealthJoy announced a $3 million Series A round on Monday. The round was led by Chicago Ventures, with Social Capital, Sidekick Fund and GoHealth also participating, along with several tech industry angel investors. HealthJoy’s mobile app, powered by an A.I. chatbot named Joy, is designed to help employees navigate their health plans. CEO Justin Holland said the Series A round would go toward hiring and making the platform more comprehensive. [Built In Chicago]


CityBase acquires Bay Area Startup

Thursday morning, CityBase announced the acquisition of the Department of Better Technology. Like CityBase, the Oakland, CA startup builds solutions to help governments modernize their online offerings. The DOBT team will remain in Oakland, and DOBT CEO Josh Goldstein will become CityBase’s VP of product. Terms of the deal were not announced. [Business Wire]


Jiobit goes to the dogs ...and cats

Jiobit, which makes wearables to help parents keep track of their children, has announced a new device for dogs and cats. Jiobit for Pets provides the location of your furry friend in real time, and can also be programmed to send alerts if your animals leave a predefined zone. The wearable also features a built-in heat sensor designed to save animals from being left in hot cars. Jiobit for Pets will be available for pre-order this fall. [Chicago Inno]


Mac & Mia unveils gift boxes for newborns

Fashion-forward curated children’s clothing e-commerce startup Mac & Mia rolled out a new gift box service last Friday. The service lets friends and family members send a box full of baby clothes to new mothers and those with children up to 12 months old. The clothing and accessories can be themed or neutral, and each box can be gender neutral or matched to the child’s gender.


ArrowStream introduces new COO

ArrowStream introduced Todd Jackson as its new COO on Tuesday. The SaaS company uses data science and analytics to give detailed insights into foodservice industry supply chains. Prior to joining ArrowStream, Jackson was the CEO at Telos Logistics, a company that provided supply chain solutions for companies in the foodservice industry. Before that, he spent 15 years working on supply chains for food distribution company US Foods.

[Press Release]


Lyft opens new Chicago office

Lyft opened the doors to its new 5,000-square-foot driver hub in Old Irving Park this week. The space will primarily serve as a place for drivers to rest, relax and get help resolving issues. It will also be used for community outreach events. The new hub will employ 20 people and house Lyft’s Chicago operations and marketing teams. [Chicago Tribune]


Images via listed companies, social media and Shutterstock

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