After slower summer months, it seems that funding is back on track for Chicago tech startups. From e-commerce businesses to supply chain companies, September’s funding was diverse and touched an array of industries. Read on to learn about the five Chicago tech companies that raised the most funds last month.
Largest Chicago Tech Funding Rounds, September 2022
- Atlas
- Strike
- Sievo
- Soda Health
- Songfinch
#5. Songfinch: $17 million, September 29
Founded in 2016, Songfinch is an e-commerce platform where customers can commission custom songs from musicians. According to Songfinch, the average musician on the site makes $25,000 a year by creating custom songs. Last month, the company closed a $17 million Series A round, which brought its total venture funding to $21.8 million. With the money, Songfinch is looking to grow its platform and recruit more musicians to its site.
#4. Soda Health: $25 million, September 13
Based in Arkansas and Chicago, Soda Health is a healthtech company that connects patients with supplemental benefits in a more streamlined manner than traditional health insurance. In September, the company raised $25 million in a Series A round from Lightspeed Venture Partners, Define Ventures and Qiming Venture Partners USA. With the new capital, Soda Health is looking to grow its platform to provide its services to as many Americans as possible.
#3. Sievo: $44 million, September 20
Intended for the supply chain industry, Sievo helps companies plan for supply chain distributions through data. The SaaS company provides businesses that move thousands of dollars of cargo with data on things such as spend analysis, material forecasting and lifecycle management. Late last month, Sievo secured $44 million in equity funding. According to the company, it will use the new capital to grow its employee headcount and client base in the Windy City.
#2. Strike: $80 million, September 27
Last month Strike raised $80 million in a Series B round led by Ten31, VC firm that backs Bitcoin projects. Strike is a crypto startup that develops integrations for e-commerce websites and enables them to accept cryptocurrencies as a payment tender for online purchases. With fresh capital of its own, the Chicago-based company said it will work to develop and launch new products aimed at financial institutions.
#1. Atlas: $200 million, September 15
Topping the funding charts in Chicago for September was Atlas. The Chicago-based company helps other businesses pay their overseas employees and is supported in over 160 countries. Sixth Street Growth led the $200 million Series B round. According to Atlas, the new capital will be used to fuel the company’s global expansion.
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