Vivid Seats Goes Public, ActiveCampaign Got $240M, and More Chicago Tech News

April 26, 2021
photo: vivid seats

Despite fickle weather so far this spring, the Windy City’s tech scene is growing consistently. Find out what new developments are cropping up on the lakefront. This is the Built In Chicago weekly refresh.

ActiveCampaign got $240MWith its SaaS platform that works to help businesses manage their customer experience on a broad scale, ActiveCampaign has seen plenty of growth. Following its Tiger Global-led Series C round, the company is now valued at about $3 billion. The new cash will enable it to conduct a hiring spree and hire 1,000 people worldwide by year’s end. [Built In Chicago]

Hologram sees huge company growthThe company created a SIM card to connect smart devices to a mobile network, and software that connects to those SIM cards to show the user a dashboard of all their devices. Hologram recorded 100 percent growth in revenue last year and predicts that number will double this year. It’s carrying that growth momentum over to its hiring plans as it looks to reach 100 employees over the next 12 months. [Built In Chicago]

Chicago Tech Quote of the Week

“Latency comes in two forms. There’s the most obvious, which is the delay from the field to your device. But there’s also latency between viewers and between devices. Meaning if you and I were watching the same game, you might be 25 seconds behind the field, while I might be 45 seconds behind — so you’d see something before I see it.” —Jed Corenthal, chief marketing officer at Phenix

Phenix pulled in $16.7MAiming to eliminate occurrences like game spoilers due to delays in live broadcasting, this startup’s platform allows companies to stream their sports video content at real-time speeds. Following its Series B round from investors including KB Partners and Verizon Ventures, Phenix is looking to build interactive features for its platform and expand its team across engineering, product and marketing. [Built In Chicago]

Vivid Seats to go public via SPACJumping on the trend of companies going public via special purpose acquisition companies is online event ticket marketplace Vivid Seats. The transaction with Horizon Acquisition Corp. is set to close within the second half of this year and will equip Vivid Seats with $769 million in gross proceeds and a combined market cap of $1.95 billion. [Built In Chicago]

AMOpportunities secured $5.4MIts platform handles the administrative tasks involved with matching medical students to clinical training opportunities at hospitals. Having seen growth in demand during the pandemic, the startup closed on its Series A round led by OCA Ventures and HealthX Ventures to expand its platform into clinical training for nursing students. [Chicago Inno]

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