$75 million in 7 days: these 6 companies raised funds this week

Written by Andreas Rekdal
Published on Feb. 19, 2016
$75 million in 7 days: these 6 companies raised funds this week

The past week has been huge for Chicago tech fundraising. In addition to Sprout Social’s $42 million round on Tuesday, Chicago health tech companies have raised over $30 million in the past seven days. 

Here is a rundown of the companies that filed or announced funding rounds this week. And be on the lookout for our roundup of February funding when the month is over — it’s going to be a big one!

$42 million — Social media

On Tuesday morning, social media SaaS provider Sprout Social announced it had closed a $42 million investment round to accelerate its already rapid growth. The round was led by Goldman Sachs’ Merchant Banking Division and puts the company’s total funding to $60 million. The company’s customers include GrubHub, Stanford University and Spotify.

$18 million — Health tech

According to a Form D filing from last Friday, Maestro Health has added another $18 million of funding since last year, leaving the healthcare startup with a roomy $53 million in total funding. The company specializes in helping employers and employees alike in navigating the landscape of employee benefits. Maestro’s customers include the Giordano’s pizza chain, Mazda and the City of Topeka, KS.

$6.5 million — Health tech

Analyte Health, another healthcare startup, also filed a major funding round last Friday — this one for $6.5 million. Analyte health offers a doctor-guided digital system called Diagnostic Triage that combines online surveys and over 4,000 walk-in clinics across the United States to make STD testing more discreet and convenient. This round places the company just under the $30 million mark in total funding.

$6 million — Health tech

This Thursday, online eye exam provider Opternative announced it had closed a $6 million round led by Jump Capital to expand its service to 13 states in the upcoming year in addition to the 33 it already serves. One of Built In Chicago's 2016 50 startups to watch, Opternative’s total funding is now $9.5 million.

$3.7 million — Health tech

With a filing for $3.7 million, PhysIQ pushed last Friday’s total health-tech fundraising into the mid-thirty million dollar range. The company’s technology integrates with wearables and medical devices and learns the unique interplay between continuous physiological signals such as heart rate, respiration rate, oxymetry, blood pressure and any number of others. In so doing, it creates an individualized baseline to help identify clinically meaningful deviations. PhysIQ has just over $7 million in total funding.

$500k — Aviation

An 1871 Bunker Labs company, OpenAirplane’s goal is to make it as easy to rent an airplane as it is to rent a car. The company is planning to spend the funds to hire more developers and accelerate growth. Read more about the funding in this blog post by co-founder Rod Racik.

Images via Shutterstock and listed companies.

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