This summer’s Techstars Chicago class announced
Techstars Chicago revealed its seventh class this week, with five of the city’s best up-and-coming startups (along with five out-of-town companies) chosen to participate in the accelerator program. The class includes Bright, Fitbot and Jio, with a mix of consumer-focused apps like PartySlate and services for developers like Brightwork. Each team will get three months of mentorship and free office space, along with up to $120,000 in funding. [Built In Chicago]
Jio comes out of stealth with $1.2M funding round
Speaking of Jio, the company announced what it actually does, along with a $1.2 million funding round. The team is working on Jiobit, which can be embedded in children’s clothing to digitally keep track of them. Investors include former Googler and Otto co-founder Lior Ron, Motorola’s former SVP of Design Jim Wicks, and Samsung SmartThings VP Tyler Hall. [Built In Chicago]
SpringCM adds $17.5M in funding
Sales contract management solution provider SpringCM announced a $17.5 million funding round with investors like Panorama Partners and Wellington Financial backing the company for the first time. The funding will help SpringCM launch six new products this year. The news is just one step in a marathon of success this year for the company, including the opening of its first international office and bringing a Salesforce executive to the board of directors. [Built In Chicago]
Raise acquires gift card wallet service Slide
Gift card marketplace Raise is augmenting its offerings with the acquisition of Slide, a digital wallet for gift cards founded by former American Express employees. The new addition gives Raise a foothold in New York, where the company plans to open new offices. Slide’s technology will help accelerate growth for Raise by offering a more seamless experience for using gift cards. [Built In Chicago]
Impact Engine closes $10M to fund startups for the social good
Many startups hope to change the world, but finding funding for altruistic pursuits can be tough. Impact Engine announced a new fund this week exclusively backing for-profit companies that aim to improve education, healthcare and the environment. The $10 million fund will give out $25,000 to $250,000 investments to about 25 early-stage companies. [Built In Chicago]
Cook County launches updated website
Governments aren’t known for the best websites, but Cook County’s new website is built for the modern age. Unveiled Wednesday, the new site is structured to make finding vital county information easy. The Drupal-based, AWS-hosted site offers flexibility for mobile or desktop visitors and is consistent with other county-wide websites.
Label Insight reveal what consumers really feel about food
It turns out consumers don’t trust food manufacturers to tell them what’s actually in the food they buy. Label Insight’s food revolution study found that just 12 percent of consumers think brands can be trusted to reveal what’s in their products, but 94 percent believe it’s a manufacturer’s responsibility to be transparent about those details.
Esquify announces partnership with TAGlaw legal alliance
Esquify is plotting an international expansion. The legal tech startup signed on to the Friends of TAG program, giving TAGlaw’s 10,000 lawyers access to the e-discovery platform. Esquify uses machine learning to help review documents faster while keeping things secure. It is the only e-discovery platform to partner with TAGlaw to date.
Mindshare adds new Chicago digital investment managing director
Global media agency Mindshare North America announced this week that former Horizon Media vice president of digital media activation Jason Smith is joining the firm as senior partner and managing director of digital investment. The hire marks Smith’s return to the company. He’ll work in the Chicago office under Jonathan Hsia, who is head of digital investment for the company.
Images via company websites, Shutterstock
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