With $100M in funding raised in March, Chicago tech companies are still on a winning streak

Written by Andreas Rekdal
Published on Mar. 31, 2017
With $100M in funding raised in March, Chicago tech companies are still on a winning streak

This month, Chicago tech companies continued an already strong year for funding, with just over $100 million raised in a total of 14 rounds. And that number doesn't even include higi’s Series B round, as terms of that deal weren't disclosed by either party. Higi’s last round, raised in 2016, was a whopping $40 million.

Check out March's five biggest rounds below.


5. Edovo, $2.2M, March 15

Investors: Undisclosed

Bio: Edovo provides edtech solutions to correctional facilities in the form of rugged, tamper-proof tablets. Built to order by Samsung, the tablets run a custom version of Android and they are unable to communicate with the outside world.

News: On the tail end of pilot programs in Pennsylvania, Alabama and California, Edovo raised a $2.25 million round last February. The company’s most recent round came in the form of debt financing, according to an SEC filing.


4. PatientBond, $2.3M, March 22

Investors: Undisclosed

Bio: Headquartered in Elmhurst, IL, PatientBond provides automated patient engagement solutions for healthcare providers. By tailoring messages to each individual healthcare consumer, the company helps providers improve outcomes and keep their patients happy.

News: PatientBond raised a $2.3 million round of funding this month, according to an SEC filing.


3. Mattersight, $16M, March 9

Investors: Undisclosed

Bio: Mattersight is a provider of cloud-based software for streamlining call center operations. Its applications are used by companies in industries like financial services, healthcare, technology and telecommunications.

News: Mattersight, which is publicly traded on the NASDAQ Stock Market, announced that it was raising a $16 million private placement at the end of last month. The deal closed at the beginning of March.


2. Jellyvision, $20M, March 21

Investors: Updata

Bio: Jellyvision is the company behind ALEX, a cloud-based HR solution that uses humor and behavioral science to guide employees through complex, yet important processes like choosing a health insurance plan or saving for retirement.

News: At the time of the announcement, CEO Amanda Lannert said the company raised the funding round to provide liquidity to longtime employees and investors while continuing to reinvest profits to fuel its rapid organic growth.


1. Livongo Health, $52.5M, March 16

Investors: General Catalyst, Kinnevik, EDBI American Investment Holdings, Microsoft Ventures

Bio: Founded by Chicago serial entrepreneur Glen Tullman, Livongo builds cloud-connected health meters that help patients manage and combat chronic conditions like diabetes.

News: Livongo will use part of the round to expand its capabilities beyond diabetes. The company pointed to high blood pressure and high cholesterol, both of which are highly correlated with diabetes, as potential areas of expansion.


Images via listed companies.

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