Companies on the Chicago tech scene are already making moves a week into the new year. From acquisitions to mergers, read more about how these startups are starting 2021. This is the Built In Chicago weekly refresh.
Relativity acquired VerQu. The company that engineers legal and compliance tech acquired VerQu to enhance its data management capabilities. VerQu’s software helps clients navigate their communication data for use toward record retention and compliance. With the new tech, Relativity’s SaaS products are aiming to modernize how organizations are able to securely collect, analyze, monitor and review unstructured data. [PR Newswire]
Cameo hires new executives. After a huge year of growth, the company that offers a video marketplace for fans to buy personalized celebrity messages is making big plans for the future. Senior leaders from popular tech consumer brands are joining Cameo’s team of execs, including Rob Post as its new CTO, Deb Schwartz as CFO, Brian Frank as COO and Melanie Steinbach as CPO. [Built In Chicago]
Chicago Tech Quote of the Week
Foxtrot Market launched a competition for small businesses. The corner store chain launched its Up & Comers Small Market Awards to help support small businesses as they work to grow their brands. Contestants have the chance to earn cash prizes and the chance to bring their food, beverage or wellness products to Foxtrot’s shelves. Winners will be announced next month. [Built In Chicago]
Chicago tech companies had a lucrative 2020. Last year, 10 tech companies in the Chicago area pulled in over $1 billion in VC and equity funding. At the top of the list is Tempus, securing $300 million to further its gene sequencing platform. VillageMD came in second with $250 million to make advancements in healthtech, and Nature’s Fynd got $125 million to support the more sustainable production of food. [Built In Chicago]
Arrive is merging with FlashParking. As the pandemic led more people to stay home, usage of parking garages tanked last year. In an effort to revitalize the parking industry, Chicago-based Arrive is combining its space finding and booking platform with FlashParking’s garage management software. Their goal is to help parking companies modernize in preparation for a changing office and consumer landscape. [Business Journals]