April was a big month for Chicago tech fundings, with the five largest rounds coming in at a combined $102.5 million. Leading the pack was Fast Radius, which uses 3D printing technology to make parts for planes and heavy machinery on demand. Read on to see who else raised major rounds.
$2.5M, April 9
What they do: Avail’s software helps independent landlords with the tedious parts of renting out a property, like finding tenants, signing documents, corresponding about maintenance and collecting money. As an added benefit to renters, Avail also offers a rent payment platform that lets tenants boost their credit scores by paying on time.
Funding details: Avail’s most recent funding round comes after a year and a half of massive growth, during which the company quadrupled its customer count and revenue figures. Cultivation Capital led the round, which closed on April 9.
$5M, April 19
What they do: Surgeries are complex undertakings with tons of moving parts, in which a missed step on a checklist can literally make the difference between life or death. ExplORer helps surgical teams avoid such mistakes with workflow management software that guides them through every step of the process.
Funding details: Since launching in 2015 selling its software directly to hospitals, ExplORer has adapted its business model to work more closely with medical device makers, according to Crain’s. Aphelion Capital led April’s round, in which the University of Chicago endowment participated alongside several notable angel investors.
$20M, April 30
What they do: ErisX is building a one-stop shop for cryptocurrency traders. The company launched its spot trading platform at the end of April, and is working to launch a futures trading market by the end of the year.
Funding details: A whopping 15 investors participated in ErisX’s Series B, including Arc Light Securities, Castle Island Ventures, Dragonfly Capital Partners, Flow Traders Tradestation and New York Digital Investment Group.
$27M, April 12
What they do: Hireology’s recruiting software helps companies find, hire and onboard candidates who are likely to succeed at their roles — and get along with their colleagues. To do so, it analyzes data from a partnering company’s most successful current employees.
Funding details: Hireology raised its most recent $27 million round to expand the software's functions and bring it to new markets. Hireology has raised $60.5 million to date.
$48M, April 2
What they do: Fast Radius combines proprietary software with 3D printing technology to create industrial-grade components for planes, manufacturing machinery and medical equipment on demand. According to the company, custom components can be delivered to customers overnight.
Funding details: UPS led Fast Radius’ most recent funding round, which will help the startup double its team, expand its software’s functionality and create new manufacturing sites. In addition to investing in Fast Radius, UPS has also partnered with the startup on an on-site manufacturing hub at the logistics company’s North American shipping hub to enable overnight deliveries.
