Travel Startup Drew $10M, Tandym Bagged $60M, and More Chicago Tech News
Travel season is upon us, and travel startups are reeling in the big bucks. This past week, the Chicago tech community witnessed several investments in travel companies as well as a large $60 million investment in an e-commerce startup. Read up on this and more Chicago tech news with the Built In Chicago Weekly Refresh.
Tandym launched with $60M. The fintech startup partners with e-commerce brands that make under $1 million in revenue to help them offer credit lines and credit cards to their customers. The $60 million in funding is split into $10 million in equity and $50 million in debt financing. With the new capital, the Chicago-based startup is planning to add 10 new employees to its 14-person team. [Built In Chicago]
Tripscout launched Instagram hotel booking chatbot. Tripscout started as a trip-planning platform, but now it will let customers book hotel rooms at discounted rates through Instagram. To book a room, customers must send a private DM to Tripscout’s Instagram, where they will be provided a link to browse hotel rooms. With the launch, the company also announced that it raised $10 million in a Series A round led by Corazon Capital. [Chicago Inno]
CHICAGO QUOTE OF THE WEEK
A Chicago travel data startup raised $10M. Chicago-based Journera helps marketers and travel agencies find potential travelers. The startup was founded by Jeffrey Katz, the former CEO and president of Orbitz. Journera has raised $30.6 million in venture funding since launching in 2016. [Built In Chicago]
A Chicago publishing company received funding. Chicago-based e-publishing secured an investment from JB Captial, an alternative credit investment firm. EPublishing is a SaaS software company that provides solutions for online publishing such as content management, audience management and e-commerce solutions. [Business Wire]
Guild Education reached a $4.4B valuation. With a $175 million Series F round, Guild Education is now valued at $4.4 billion. The Series F round, which was led by Wellington Management with participation from Oprah Winfrey and others, comes one year after the company raised a $150 million round. Based in Colorado with a presence in NYC, Chicago, San Francisco and Los Angeles, Guild Education partners with employees to offer education-based benefits. [Denver Business Journal]