Tripscout Raised $2.3M, Relativity Valued at $3.6B, and More Chicago Tech News

March 22, 2021
photo: relativity / facebook

Fresh funding is abundant on the Chicago tech scene with several companies making new advancements. Find out what innovations are coming to the Windy City. This is the Built In Chicago weekly refresh.

Relativity secured new funding. With an undisclosed infusion from investor Silver Lake, Relativity’s valuation has reached a reported $3.6 billion. Its SaaS platform works to help legal teams find relevant info within large amounts of documents and data. With the funding, the company plans to fund product growth and development. [Built In Chicago]

Dundee VC closes on $25M+ fundThe Omaha-based VC firm is planning to fund businesses in the construction, commerce, transportation and logistics and financial services industries. It’s targeting early stage startups throughout the Midwest where the tech industry is undergoing rapid growth and companies are garnering more VC attention. [Built In Chicago]

Chicago Tech Quote of the Week

“There is so much pent up demand right now for travel. We’ve spent a lot of time engaging with our community and our audience and, as soon as it’s safe to do so, travelers are actually saying that they plan on traveling more in the future than they did even in the past. We think a boom is going to happen, especially this summer after America gets vaccinated.” —Tripscout co-founder and CEO Konrad Waliszewski

Tripscout got $2.3MDespite the pandemic inhibiting widespread vacationing this past year, AI-enabled travel planning platform Tripscout is still growing its business. Travel won’t resume as normal in the immediate future, but Tripscout’s customers have taken solace in planning for the trips that lie a ways ahead. With its fresh funding, the startup is looking to invest in growing its audience, developing its platform and expanding its team. [Built In Chicago]

CCC Information Services appoints new CPOThe SaaS company for the property and casualty insurance industry appointed Shivani Govil as its new CPO. Govil was executive vice president at Sage Software prior to joining CCC. In her new position, she’ll be responsible for leading matters of product and marketing within the company as well as furthering its strategic vision. CCC is also going public via a SPAC merger with Dragoneer Growth Opportunities Corp. [PR Newswire]

Reverb saw huge growth over the holidaysWith its online music gear marketplace platform, Reverb is another company that is experiencing pandemic-driven growth. During Q4 last year, the company saw a 32 percent increase in sales year over year. It’s looking to pursue further growth by expanding its platform, investing in marketing and updating its features. [Built In Chicago]

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