These 5 Chicago Tech Companies Raised $670M+ in October

Joe Erbentraut
November 2, 2020
chicago tech funding
Photo: Shutterstock

In an unusually busy month for Chicago venture capital, five Chicago-area startups brought in a combined $673 million. Leading the way with its massive $500 million Series A round was Uber Freight, the transportation giant’s Chicago-based shipping and trucking arm. Read on for more details about the local tech companies that brought in fresh cash this October.

 

#5. $18 million, October 28

The Northbrook-based company offers a platform that helps older adults live at home for as long as possible, as well as reduces the workloads and stress levels of their caregivers. Its Series A round was led by 7wireVentures and Pitango Healthtech.

 

#4. $30 million, October 14

The Asian food delivery startup raked in $30 million in new equity funding in October, following on the heels of a $33 million Series A round announced in July. The latest round featured participation from existing investors including Meritech Capital and Luxor Capital Group.

 

#3. $45 million, October 14

The fintech startup’s Series C funding will go toward developing its tech and staffing up — the company specifically plans to double its 75-person team in 2021. M1 Finance offers an investing app that allows users to manage and grow their money through automated brokering, portfolio lines of credit and digital banking.

 

#2. $80 million, October 5

The startup, launched in 2017, substitutes cooler doors with smart screens designed to grab consumers’ attention. Its new Series C funding round will help the company develop its tech and grow. The 50-person company plans to hit a headcount of 75 by the year’s end.

 

#1. $500 million, October 5

Greenbriar led the Series A preferred stock financing for the Chicago-based arm of the San Francisco tech giant known best for its ride-hailing app. Last year, the company announced it would hire 2,000 people in Chicago during the next three years. The round brings Uber Freight’s valuation to $3.3 billion.

Chicago startup guides

LOCAL GUIDE
Best Companies to Work for in Chicago
LOCAL GUIDE
Coolest Offices in Chicago Tech
LOCAL GUIDE
Best Perks at Chicago Tech Companies
LOCAL GUIDE
Women in Chicago Tech