This is our round up of Chicago tech and startup companies that received venture capital investments during the month of July. If we missed one, let us know at info@chicagoinno.com.
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Chicago tech and startup companies raised at least $35.4 million throughout the month of July.
The most significant funding rounds came from Journera, which raised $9 million, and Americademy and LogicGate, which both raised $7.5 million.
Funding in July was down slightly compared to June, when local tech companies raised about $37 million. The decline in July is consistent with this summer's trend of fundings being slow since May.
Below are five Chicago tech and startup companies that raised money in July.
Americademy: The company, which is behind children’s coding studio Codeverse, reported raising $7.5 million in new equity funding, according to an SEC filing. The company is led by serial entrepreneurs and husband and wife duo Katy Lynch and Craig Ulliott.
Catalytic: The startup raised $5.6 million in an inside funding round from the startup’s existing investors who were “enthusiastic supporters in advance of, and to provide for a better Series B," according to the startup's founder and CEO Sean Chou.
Catalytic previously raised $11.1 million Series A in 2016 from a handful of notable investors, including NEA, Valor Equity, Boldstart Ventures, Pritzker Group, Hyde Park Angels, Hyde Park Venture Partners, Sam Yagan’s fund Corazon, Lightbank, and Chicago Ventures. Chou said Valor and Hyde Park Angels “substantially increased their stake" in the latest round.
Chowly: The startup, which makes a point-of-sale system for restaurants, raised $5.8 million in a Series A funding round. MATH Venture Partners led the round, with participation from Valor Equity, Chicago Ventures, Hyde Park Venture Partners, M25 Group and others.
LogicGate: The startup raised $7.5 million in new funding for its risk and compliance automation software in a Series A round led by Chicago-based Jump Capital. LogicGate, a member of the 2016 Techstars Chicago class, said it will use the funding to add 50 new people to its team. Other investors included Indianapolis-based High Alpha and existing investors. LogicGate has now raised $9.4 million to date.
Journera: Founded in 2016 by Jeffrey Katz, the founder of Orbitz Worldwide, Journera raised $9 million in a Series A venture capital round. Investors in the round include B Capital Group, Andreessen Horowitz, Pritzker Group Venture Capital and The Boston Consulting Group.
In addition to the funding news, the startup also revealed that it has established six commercial agreements for use of their platform with American Airlines, Hilton, InterContinental Hotels Group, Marriott International, United Airlines and an affiliate of Hyatt Hotels Corp.
