This is our round up of Chicago tech and startup companies that received venture capital investments during the month of April. If we missed one, let us know at info@chicagoinno.com.
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Chicago tech and startup companies raised at least $97 million in venture capital throughout the month of April, according to data compiled by Chicago Inno.
The month’s financings were down compared to March, when Chicago startups raised at least $136 million. April’s fundings were led by Fast Radius, which raised $48 million, and Hireology, which raised $27 million.
Below are 11 Chicago tech and startup companies that raised money in April.
Avail: The Chicago startup, which makes software for landlords, raised $2.5 million in a round led by St. Louis-based Cultivation Capital as it looks to bring its tech to more property owners. The round brings Avail’s total funding to date to $5.4 million.
Blueprint: Founded in 2016, Blueprint raised $1.3 million in a seed round led by Lightbank and Hyde Park Angels. The company is working to change and improve how patients are treated for mental health conditions through a platform that collects and analyzes patient data.
Draftbit: Founded in 2018, the startup has built a drag and drop software platform that lets companies build mobile apps in days, rather than weeks or months. In April, Draftbit raised just under $1 million from backers like Sam Yagan’s Corazon Capital, Network Ventures, and Jeff Judge, the CTO of Chicago startup Arrive.
ExplORer Surgical: Healthcare SaaS provider ExplORer Surgical closed a $5 million financing round led by Mill Valley, Calif.-based Aphelion Capital, the venture firm that also led ExplORer Surgical’s $3 million Series A round in 2017. The startup has now raised $9 million in total funding, according to Crunchbase. ExplORer Surgical, founded in 2015 by CEO Jennifer Fried and Alex Langerman, makes a cloud-based “digital playbook” for hospitals and device companies, which allows them to guide, track and analyze activity in the operating room.
Ezza Nails: The startup raised $1.5 million in a funding round that included Chicago-based investor Matt McCall and GingerBread Capital, a Menlo Park, Calif.-based venture firm that invests in women-founded startups. Founded in 2016 by Ale Breuer and Kim Marsh, two Teach for America and University of Chicago Booth School of Business alumnae, Ezza offers a nail salon experience that’s more efficient, ethical and convenient.
Fast Radius: The Chicago manufacturing startup that helps companies bring products to market raised a $48 million Series B round led by UPS. Other backers include Drive Capital, Jump Capital, Skydeck and Hyde Park Venture Partners. The startup has now raised more than $64 million since it launched in 2015.
Hireology: The startup closed a $27 million Series D round, $12 million of which was in equity, with the remaining $15 million being money raised in debt financing from Silicon Valley Bank, said Hireology Co-Founder and CEO Adam Robinson. The $12 million in equity was invested by Blue Cloud Ventures, Bain Capital Ventures and Baird Venture Partners. Hireology says it has now raised more than $60 million in equity and debt funding to date.
The company, founded in 2010, provides technology to help companies make better hiring decisions by using data and predictive analytics.
K4 Mobility: Former Gogo CEO Michael Small raised $5.15 million for his new startup K4 Mobility, which looks to bring internet service to yachts and other large boats. Small told Crain's that maritime is a larger market for internet service than aviation, which Gogo helped pioneer when it launched in the early 90s.
Neopenda: Chicago startup Neopenda, which makes wearable neonatal monitors, raised $1.04 million from New York-based Axel Johnson Inc. and SUNU Capital, an African-based venture capital firm. Neopenda says the new financing will allow them to begin manufacturing and commercializing their product. The funds will also aid in expanding the startup’s clinical pilots to regions beyond their current base in Uganda.
Simergent: The Chicago company, which is developing an affordable home dialysis system, raised $2.8 million in a seed round led by Oklahoma-based i2E. The funding will be used to complete the design, manufacturing and regulatory testing of the device.
TripScout: The Chicago-based app founded by Konrad Waliszewski and Andy Acs raised a $2.1 million seed round led by Sam Yagan’s Corazon Capital. Other backers include New Stack Ventures, Village Global, 500 Startups, MATH Ventures, M25 Ventures, Sandalphon Capital, Connetic Ventures and Miles Partnership. TripScout acts as a centralized place for travel information and inspiration by pulling articles and videos from top publishers, along with content from local Instagram influencers, to provide travel insights on more than 100 destinations across the world.
