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 $87.5 million in venture capital throughout the month of November, according to data compiled by Chicago Inno.
The month’s fundings were carried by Apertiva, which raised $22 million, and Threekit, which raised $20 million.
November’s venture capital fundings were more than double of those in October, when Chicago startups and tech companies raised about $42 million. However, November was still low compared to September, when companies raised about $129 million.
Below are eight Chicago tech and startup companies that raised money in November.
2nd Kitchen: A Chicago startup that lets kitchenless establishments like breweries and hotels offer food to their customers raised another $3 million, bringing its total seed round to $4.35 million. The round was led by Hyde Park Venture Partners. Other backers include MATH Venture Partners, Great North Labs, Bragiel Brothers and M25. The startup previously raised $1.3 million in February.
Apertiva: Chicago healthcare startup Apervita raised new financing following its merger with Boston-based Qcentive over the summer. The company raised $22 million from Optum Ventures, Pritzker Group Venture Capital and Baird Capital. Other investors include Math Ventures, Levy Family Partners, Illinois Ventures and Wintrust. Apervita, which operates a cloud-based platform that enables insurers and healthcare providers to share clinical and insurance claims data, has now raised more than $43 million to date, according to Crunchbase.
Ascent: The company raised a $19.3 million Series B round led by Columbus-based VC firm Drive Capital. Other backers include banks ING and Wells Fargo, along with Alsop Louie and The University of Chicago. The startup uses artificial intelligence to help organizations automate regulatory compliance. Its software helps companies save money and reduce risk by simplifying regulatory compliance, allowing customers to track, manage and resolve complaints and compliance issues as they arise. Ascent has raised more than $26 million since it launched in 2015.
BrewBike: The coffee startup with roots at Northwestern University secured $2 million in a seed round led by CEAS Investments, a venture firm with a focus on early-stage consumer product companies. The round also included Mats Lederhausen, the former managing director of McDonald’s Ventures and the former chairman of Chipotle, and other angel investors. BrewBike sells cold brew and other café items on college campuses from cargo bikes.
DataCubes: The company raised $15.2 million in a Series B round led by Palm Drive Capital, a New York-based venture capital and growth equity fund that invests in software and internet companies. Founded in 2016, DataCubes has created a platform for insurance companies that allows them to make underwriting decisions more quickly based on risk data. The round brings DataCubes' total funding to $18 million, said Kuldeep Malik, DataCubes’ co-founder and CEO.
Groundbreaker: Chicago startup Groundbreaker, which helps commercial real estate investors streamline their workflow with an easy-to-use software platform, raised $2 million in a round led by Andrew Bluhm, whose family is behind Rivers Casino, Walton Street Capital and Marquee Chicago properties. The startup has developed an all-in-one investment management software for commercial real estate investment firms.
Inhabitr: Inhabitr raised a $4 million Series A round led by Great North Labs, a Minneapolis-based VC firm. It’s the first outside funding the startup has raised since it launched in April 2018. Inhabitr’s subscription service allows customers to rent furniture packages or one-off items. Furniture sets start at $69 a month for things like living room and dining packages, and individual sofas range from $36 a month to more than $100 a month.
Threekit: The startup raised a $20 million Series A round led by Shasta Ventures, a Silicon Valley VC firm that’s invested in companies like Nest and Dollar Shave Club. Threekit has raised $30 million to date. Godard Abel, the CEO of VC-backed Chicago startup G2, led a $10 million round in ThreeKit earlier this year. Using Threekit, companies can bring augmented reality, 3D product tours and other immersive digital experiences to their websites to help customers get a better sense of their products.
