Reddit subscribes to r/chicago
Translation: Reddit is coming to Chicago. The new office will be led by Rob Sprungman, senior director of central brand partnerships, whose team will focus on enhancing the company’s Midwest sales presence. Sprungman brings a host of experience to his new role, having opened Electronic Arts first Midwest sales office in addition to leading Midwest sales teams at AdMob, Google and Thinknear. Sprungman told the Chicago Tribune he expects to have a staff of nine by the end of the year. [Reddit Blog]
Groupon co-founder sells app to Bose
Groupon co-founder Andrew Mason has sold Detour, a San Francisco-based app that provides guided walking tours of cities around the world, to Bose. Mason said support for the app will continue until the end of May, at which time it will be shut down as Bose searches for a partner to re-launch its content. Meanwhile, Mason and his team will begin working full(er) time on Descript, an audio editing and transcription startup that has raised $5 million in funding. Terms of the Detour acquisition were not announced. [Chicago Inno]
Catalyte brings its unique hiring process to the Windy City
Catalyte, which provides outsourced software development and managed services, is opening an office in Chicago. CEO Jacob Hsu said the goal is to hire 100 people over the next two years. Catalyte, which recently raised $27 million, is known for its tech-driven hiring practices. Instead of submitting a resume, applicants complete a two-hour screening process that uses artificial intelligence and machine learning algorithms to determine their ability to learn software development. All new hires complete a 16 to 20 week full-time training program before starting work. [Built In Chicago]
NuMat Technologies raises $12.4 million
On Thursday, NuMat Technologies announced it has raised $12.4 million in funding. OS Fund led the round, which featured participation from Osage University Partners, Tin Shed Ventures and several other existing investors. The Skokie-based nanotech company designs and builds products made from molecularly engineered materials. NuMat will use the round to invest in its technology and to increase its manufacturing capabilities. [Press release]
SpotOn founders make major investment
SpotOn co-founders and twin brothers Matt and Zach Hyman have invested $20 million into the company. The company's platform is designed to give small and medium-sized businesses a single portal for payments, marketing and analytics. “We are aggressively investing to bring best-in-class, integrated payment and software solutions to SMBs,” said Matt Hyman in a statement. “In the past year, we have hired over 100 new employees across all departments to provide a strong bench of support to our merchants and sales partners.” [PR Newswire]
Chicago tech welcomes new execs
Rich LeFurgy has joined the LotLinx board of directors. LeFurgy was one of the company’s early investors and is the founding chairman of the Interactive Advertising Bureau, a trade association for digital media and marketing companies that counts over 650 members.
“Artificial Intelligence is clearly one of the driving forces of where online advertising is headed, and I look forward to helping the company take VIN-level marketing to the next level,” said LeFurgy in a statement. [PR Newswire]
Eric Patnoudes is the new director of strategic initiatives at Otus. He joins the edtech company from CDW where he served as K-12 education strategist. In his new role, Patnoudes will oversee the development of partnerships.
“I was drawn to Otus because we share a the viewpoint that, while technology can empower teachers, real progress comes from teachers who know how to effectively utilize that technology,” Patnoudes said in a statement. [Business Wire]
