Chicago tech companies saw a steady stream of investments throughout October, collectively raising more than $94 million this month. However, the figure was fairly flat compared to September.
October fundings dropped 75 percent from last month, when Chicago tech companies raised more than $385 million.
GTreasury, a software firm in Lake Zurich, Ill., led October’s funding announcements, raising $42 million from San Francisco-based Mainsail Partners. Other notable Chicago tech companies, like Envoy Global and Level Ex, also pulled in considerable amounts of equity funding this month.
Here’s the full list of October’s funding announcements:
AMOpportunities: The startup, which makes a platform that coordinates hospital rotations for international medical students and graduates, raised $1.1 million this month, and will use it to expand its customer acquisition efforts.
CardX: The local business-to-business FinTech startup, raised $2.1 million this month in their first funding round, which was led by NXGEN International in Whitefish, Montana. The company founded in 2013 by Jonathan Razi, sells credit card terminals, virtual terminals and consumer-facing online payment portals. Each of the payment methods automatically require customers to pay any associated credit card fees at their time of purchase, allowing businesses, government organizations and educational institutions to avoid paying customers’ credit card fees.
Catch Co.: The local e-commerce startup that sells a monthly subscription box aimed at fisherman raised $3.5 million in a Series A round, led by Listen Ventures and Guild Capital. Since launching in 2012, the company has raised a total of $3.8 million.
Envoy Global: The company raised $21 million in a Series C round this month, led by New York-based growth equity firm Catalyst Investors, with participation from General Catalyst Partners. Envoy Global, previously known as VisaNow, helps companies recruit, hire and manage an international workforce. The company, founded in 1998, says it will use the funds to grow its team, and improve its technology and software. Envoy received its first investment of $16 million from General Catalyst in 2014. Since then, Envoy has added more than 1,000 customers and assisted 24,000 people.
FlyHomes: The local startup that helps consumers find housing in high-demand markets raised $4 million in funding this month. The company, which has offices in Chicago and Seattle, said it will use the money to improve its marketing efforts and product development processes. FlyHomes was founded in 2015 by Microsoft veterans Stephen Lane and Tushar Garg while they were at Northwestern University’s Kellogg School of Management.
GTreasury: The software firm in Lake Zurich, Ill. raised $42 million from San Francisco-based Mainsail Partners. GTreasury launched 31 years ago and provides companies with treasury management solutions.
Hazel Technologies: This Chicago startup was awarded $600,000 in a second round of funding from the USDA through the Small Business Innovation Research (SBIR) program. The startup, which works to improve the shelf-life of produce, was previously a recipient of a $100,000 development grant from the USDA in 2016.
Impossible Objects: The additive manufacturing startup raised $6.4 million in a Series A round, led by OCA Ventures. IDEA Fund Partners, Mason Avenue Investments, Huizenga Capital Management and Inflection Equity Partners also participated in the round. Impossible Objects said it will use the funding to expand its sales and marketing departments.
Level Ex: This local startup that creates video games for doctors raised $11 million in a Series A round, led by 4490 Ventures, with participation from JAZZ Venture Partners and Pritzker Group Venture Capital. The company was founded by Sam Glassenberg, who previously designed Star Wars video games at LucasArts. The company plans to use the new funding to expand into virtual and augmented realities, and ramp up hiring in its Chicago and Boston offices.
NexLP: The cognitive analytics startup raised $3 million in a funding round led by Chicago-based Method and Dundee Venture Capital in Omaha, Nebraska. The startup uses A.I. and machine learning to help corporations analyze data in emails, chat logs and text messages.
