Xaptum gets $3.1M to expand its protections
Xaptum, an IoT security platform that protect connected devices from malicious actors, received a $3.1 million funding which it will use to scale, according to Crain’s. VCapital led the investment, with contributions made by Purple Arch Ventures, Loud Capital, Hyde Park Angels and former U.S. Robotics executives Casey Cowell and Michael Seedman. The company plans to hire an additional 10 staff members by the end of year. [Crain’s]
ParkWhiz goes to Canada, eh
ParkWhiz is bringing its on-demand parking spot service to our northern neighbors. The platform, which is currently live in 230 U.S. cities, will open up 150 parking locations near the Toronto airport and in the city’s downtown area. The company is partnering with local real estate companies and the Scotiabank Arena to provide spots to users of ParkWhiz and it’s subsidiary app BestParking, along with users of its distribution partners that include Ford and Groupon. [PR Newswire]
Fooda announces new office — and big hiring plans
Fooda, the food delivery service that partners with 1,500 restaurants to feed people in 17 cities, is expanding its presence in Chicago. The company has around 160 employees in Chicago and plans to onboard around 70 more over the next year. To accommodate the new hires, Fooda is moving from its current River North office to a new 20,000 square foot location in the Loop next month. Tasty stuff! [Chicago Tribune]
MDLIVE is moving to Chicago
MDLIVE, a healthtech company providing patients with health plans and digital access to doctors, is expanding to the Windy City. Rich Berner, CEO, told the Chicago Tribune the company intends to open a downtown Chicago office early next year and staff it with around 20 employees. The company has partnerships with major organizations in the healthcare sector, including Walgreens, and has a user base of over 27 million. [Chicago Tribune]
Chicago still dominates VC in the Great Lakes region
ChicagoNEXT and Hyde Park Angels partnered to produce the 2018 Chicago Venture Ecosystem — a data-focused overview of the current state of Chicago’s venture capital world. The report examines trends in the ecosystem and provides a snapshot of how 2018 stands in comparison to previous years. Statistics like median deal size, outside investor participation and the city’s multiple of invested capital compared to other major urban centers, are all highlighted. [2018 Chicago Venture Ecosystem]
TransUnion partners with Boston nonprofit to aid fintech startups
TransUnion is partnering with FinTech Sandbox, a Boston-based non-profit that provides data and infrastructure to fintech startups to help early-stage companies launch into the market. The partnership ultimately hopes to let startups test their market assumptions, develop preliminary risk models and adjust strategy before officially going live. Resources like TransUnion’s Startup Credit Kit will be provided to companies in the FinTech Sandbox cohort, which they will use to share knowledge and push the industry forward. [Business Wire]
Avant adds two new members to its board of directors
Credit provider Avant announced the appointment of Janice Eberly to its board of directors. Eberly is a finance professor at Northwestern’s Kellogg School of Management, who also served as assistant secretary for economic policy at the U.S. Treasury from 2011 to 2013. In a company press release, she said she will help Avant provide transparent and convenient credit solutions to consumers. [PR Newswire]
James Reynolds was also appointed as new member to Avant’s board. Reynolds has 30 years of experience in the financial services industry as Wall Street veteran who later founded Loop Capital. He noted in the press release he will work with the rest of the board to drive company growth forward. [PR Newswire]
