The 2012 Chicago Startup Report

February 7, 2013

The most innovative minds in Chicago launched 367 digital startups in 2012, up from 193 launched in 2011. 59 companies secured funding of at least $1M in 2012, an increase from 44 companies in 2011.

The activity in Chicago attracted more than 50 investors from outside Chicago to invest in the city’s digital startups in 2012. "Chicago has developed into a city that every investor must watch,” said Mayor Rahm Emanuel. “Our economy is thriving and the companies we are producing are among the nation’s leaders in many sectors, and this year’s data proves it.”

The largest growth in funding was in the healthcare technology sector, with 27% of the 2012 startup funding going to digital healthcare companies. GoHealth was the top recipient, raising more than $50 million to further develop its health insurance comparison site.

“We’re only in the beginning of transformational changes to the healthcare industry,” said Brandon Cruz, Co-Founder, GoHealth. “ Our funding provides GoHealth the ability to accelerate hiring, further enhance our technology platform and position ourselves as a change agent for the industry."

View our full press release here.

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More great analysis on the 2012 Chicago startup scene:

Forbes: Winds of Change: Chicago's 2012 Digital Startup Report

Crain's: Chicago tech's buzzworthy 2012 startup tally

The Next Web: Chicago startups’ 2012: $391M raised, 26 acquisitions, 1 IPO and $698M in exits

INC.WELL: New Chicago Startup Launches Every 44 Hours: Report