TimeDoc Health Got $48.5M, Motorola’s Acquisition, and More Chicago Tech News

Here’s what you may have missed in the world of Chicago tech.
Written by Delilah Alvarado
March 28, 2022Updated: March 28, 2022
Photo: Shutterstock
Photo: Shutterstock

The Chicago tech scene had a big week with funding rounds, partnerships and more. Read on to find out what you might have missed. This is the Built In Chicago weekly refresh. 

TimeDoc Health gained $48.5M. TimeDoc Health is a telehealth platform that allows doctors to monitor patients between appointments. The company received $48.5 million in a Series B funding round. The funds will go toward partnering with more medical facilities, expanding its operations and hiring additional staff. The company plans to hire between 20 and 40 people every month. [Built In Chicago]

Avant is the world’s fastest company to reach unicorn status. Founded in 2012, the Chicago-based fintech platform aims to make financial services more attainable to everyone by offering personal loans at low-interest rates, online banking and credit lines. According to a recent study by ZenBusiness, Avant reached unicorn status only one month and 16 days after launching. The average U.S. tech company took seven years and 13 days to reach the $1 billion valuation, according to the study. [Built In Chicago]

CHICAGO TECH QUOTE OF THE WEEK

“Companies and organizations that prioritize diversity, equity and inclusion recruit the best teams, build better products and produce stronger financial results. Chicago Venture Fellows is a product of our strategy to build a more diverse venture capital talent pipeline and welcome more people into the city’s tech community who might otherwise opt-out.” — Joey Mak, executive director of Chicago:Blend

Chicago:Blend launched a new program. Chicago:Blend is a nonprofit on a mission to increase diversity in VC firms and startups in Chicago. The nonprofit announced it will launch the Chicago Venture Fellows program for venture capitalists from underrepresented communities. The bi-annual program will last for four months and will give aspiring venture capitalists a $1,000 stipend. To qualify for the program, candidates must have two years of experience or be enrolled in a graduate program. Candidates must be Black, Indigenous and people of color (BIPOC), women or nonbinary individuals. [Built In Chicago]

Motorola Solutions acquired TETRA Ireland Communications. Motorola Solutions acquired TETRA Ireland Communications, which provides Ireland’s National Digital Radio Service as well as voice and data land mobile radio communications for frontline workers and first responders in Ireland. The financial terms of the deal were not disclosed. The acquisition will expand Motorola’s Managed & Support Services business. The company is currently hiring for more than 150 remote and Chicago-based positions. [Business Wire]

ImmersiveTouch partnered with Mayo Clinic. ImmersiveTouch uses virtual and augmented reality for surgical planning, training and collaboration by converting 2D medical images into 3D spatial models. ImmersiveTouch announced a strategic collaboration with Mayo Clinic. The collaboration will allow ImmersiveTouch’s technology to be commercialized. [Business Wire]

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