This is our roundup of Chicago tech and startup companies that received venture capital investments during the last month. If we missed one, let us know at info@chicagoinno.com.
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Chicago tech and startup companies raised at least $129 million in venture capital throughout the month of September, according to data compiled by Chicago Inno.
The month’s fundings were carried by VillageMD, which raised a whopping $100 million round.
September’s venture capital fundings were down compared to August, when Chicago tech raised about $215 million. In July, Chicago tech raised around $148 million.
Below are four Chicago tech and startup companies that raised money in September.
Forager: The Chicago logistics company that’s working to simplify international shipping raised $3.25 million in a round led by Chicago Ventures and TFI International. Additional individual investors include local investor Ezra Galston, Herb Shear, the former chairman of Genco, and Steven Galanis, the founder and CEO of celebrity shout-out startup Cameo.
The company got its start focusing on shipping items for the automotive and aerospace industries, but has since expanded into shipping tequila, paper products and produce.
Fyllo: The young Chicago startup raised $16 million in its first-ever round of funding in September to help cannabis companies deliver industry-compliant ad campaigns. The round was led by New York-based JW Asset Management and Canada-based K2 & Associates, two investments firms known for backing cannabis-related businesses. Later in the month, Fyllo raised an additional $2 million.
Founded just this past April, Fyllo has created a marketing tech platform for the cannabis industry that helps brands execute and create ad campaigns that comply with state and federal regulations.
Paro: The company raised $10 million in fresh funding in a round led by Silicon Valley VC firm Sierra Ventures. Other backers include Revolution Ventures, KGC Capital and angel investor Tom Williams. Last year, Paro raised $5 million in a round led by Revolution, a VC firm led by AOL co-founder Steve Case.
Founded in 2015, Paro connects businesses with freelance finance professionals—like accountants and tax specialists—on-demand. Its platform helps businesses with things like bookkeeping, financial analysis, tax help, and can even help companies hire temporary CFOs.
VillageMD: The startup raised $100 million in a Series B round. The round was led by a $75 million investment from Kinnevik, a Swedish investment firm. Other backers in the round included Oak HC/FT, Town Hall Ventures and Adams Street Partners. VillageMD has now raised more than $215 million to date. It last raised a $80 million round in 2018.
VillageMD partners with primary care providers to help them cut costs and deliver better patient outcomes. The startup provides doctors with data analytics, staffing support and other resources to improve the quality of care.
