These 5 startups helped Chicago tech lock down $90M in funding in October

by Michael Hines
November 1, 2017

Chicago tech companies raised $90 million in fresh funding in October, with almost half of the amount coming from one round: a whopping $42 million first funding for GTreasury, which had been bootstrapped since launching in 1986. Envoy also landed a $21 million Series C.

Those two rounds aside, October was more about seed rounds and Series As. Here are the companies that closed the month’s biggest rounds.

 

The Catch Co. team Chicago

 

5. Catch Co., $3.5M, October 12

Investors: Listen Ventures, Guild Capital

Bio: Catch Co. is an e-commerce company specializing in fishing bait and lures. The company is best known for Mystery Tackle Box, a monthly subscription box designed to introduce anglers to new products.

News: Catch Co. was mum on the plans for the round, but it did confirm it had raised $3.5 million from Listen Ventures and Guild Capital. There’s a chance the company could use the fresh funds to introduce new products. In 2016 the company rebranded from Mystery Tackle Box to Catch Co. and announced plans to expand its product lineup to include tackle and other fishing gear made in-house.

 

 

The FlyHomes team Chicago

 

4. FlyHomes, $4M, October 5

Investors: Mark Vadon, Al Goldstein

Bio: Real estate technology startup FlyHomes helps consumers find houses in high-demand markets. Users can browse listings and receive real-time alerts when a home matching their preferences is listed. FlyHomes also provides on-demand tours and handles every part of the negotiation process.

News: FlyHomes will use the funding to step up its marketing efforts and to accelerate product development. CEO Stephen Lane said the company, which has offices in Chicago and Seattle, expects to rapidly grow its Chicago team. The FlyHomes Seattle office has a current headcount of around 30, and Lane said the Chicago office would grow at a similar pace.

 

 

Impossible Objects 3D printer Chicago

 

3. Impossible Objects, $6.4M, October 10

Investors: OCA Ventures, IDEA Fund Partners, Mason Avenue Investments, Huizenga Capital Management, Inflection Equity Partners

Bio: Impossible Objects builds 3D printers capable of making functional, high-strength parts and tools quickly and at scale. The company uses composite-based additive manufacturing technology to create everything from automotive parts to medical devices.

News: CEO Larry Kaplan said the company will use its Series A round for hiring. Impossible Objects plans to grow its research and development team along with its sales and marketing staff. Kaplan said the company, which currently employs 17 people, could potentially double its headcount over the next year.

 

 

Envoy team Chicago

 

2. Envoy, $21M, October 3

Investors: Catalyst Investors, General Catalyst

Bio: Envoy’s software provides a single place for companies to manage and track work authorizations for foreign workers in the United States as well as for Americans abroad. The startup also offers an employee management platform with tools for budgeting and forecasting.

News: Envoy plans to ramp up development of its platform and global immigration services. The company will also increase its go-to-market efforts and do some hiring in sales, marketing and technology.

 

 

Chicago skyline afternoon

 

1. GTreasury, $42M, October 25

Investors: Mainsail Partners

Bio: GTreasury builds software designed to give companies increased insight and control over their finances. Its software gives the user a complete view of their company’s liquidity and tools for managing risk and exposures along with automating repetitive processes.

News: Part of GTreasury’s monster round will be used to expand internationally; the Lake Zurich-based company recently opened its first international office in London. The fresh infusion will also help fund platform developments and enhance the company’s customer service.

 

 

Images via Shutterstock, social media and listed companies

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