As the year comes to a close, we wanted to take a look back at the top Wisconsin tech headlines from 2019. Wisconsin saw new corporate venture capital firms, a major expansion by one of the world's largest tech companies and several mergers and acquisitions.
Throughout the year, we've worked to keep our readers informed on all the latest tech moves happening in Wisconsin, but to recap the year that was, we've rounded up some of the biggest headlines of 2019.
And of course, we cover the state’s biggest tech news each week in our Beat newsletter, which you can sign up for here.
These were the stories that shaped Wisconsin tech in 2019.
TitletownTech Officially Launches, Reveals Details on $25M VC Fund
The Green Bay Packers and Microsoft held the official grand opening of TitletownTech in October. The initiative, officially announced in 2017, aims to spur startup growth and innovation in Green Bay. At the opening, TitletownTech named a dozen new limited partners in its fund, all of which are based in Wisconsin.
TitletownTech’s first fund is expected to invest in 18 startups, writing checks between $100,000 and $1 million. Of the 18 startups in fund 1, TitletownTech anticipates backing 10 companies that are Wisconsin-based. Of the remaining eight, about half will have Wisconsin ties.
Foxconn Technology Group Breaks Ground on Mount Pleasant Facility, But Questions Remain
The Taiwanese company has dominated headlines in Wisconsin for the last two years since it announced it was bringing jobs to the state in a new production facility. In June, Foxconn began construction on a manufacturing facility in Mount Pleasant, which is slated to be finished late next year. Most recently, Wisconsin Gov. Tony Evers and the Wisconsin Economic Development Corp. are working to create an agreement with Foxconn over whether it qualifies for $3 billion in state financial incentives.
Wisconsin Legalizes Electric Scooters
Over the summer, Gov. Tony Evers signed a bill that allowed electric scooters to operate in Wisconsin. The move was a way to expand transportation options for residents and attract startups to the state. The bill allows e-scooters to operate on most streets, sidewalks and bike lanes, and riders are required to follow traffic rules. The scooters must also satisfy equipment requirements, such as lighting and brake requirements.
Soon after, Milwaukee launched an e-scooter pilot, which scooter companies like Lime and Bird participated in.
Northwestern Mutual Launches $150M VC Fund
Northwestern Mutual launched a $150 million VC fund in June to form Northwestern Future Ventures Fund II—a lofty extension of its venture capital fund launched in 2017. The fund is slated to advance the company’s investment strategy and attract startups whose technologies transform how people experience and achieve financial security. Investments will range from $500,000 up to $5 million.
Additionally, just in October, Northwestern Mutual announced that it will dedicate $20 million of the fund to invest in startups founded by women.
Medtronic Acquires Mequon’s Titan Spine
Titan Spine, a spinal technology company based in Mequon, was acquired by Medtronic, one of the world’s largest medical technology companies. Terms of the transaction were not disclosed. Titan Spine, which was one of Wisconsin Inno’s 19 Startups to Watch in 2019, made interbody implants that serve as spacers inserted between the vertebrae during spinal fusion procedures. The implants help to relieve nerve pressure and hold the vertebrae in place while fusion takes place. Founded in 2006, Titan Spine raised more than $50 million in funding.
At the beginning of the year, California tech giant Google announced that it was investing $13 billion into expanding across the U.S. this year, some of which was concentrated in the Midwest and in Madison. Then in October, Google opened the doors of a new Madison office, where it houses more than 100 employees. Google’s Madison office focuses on hardware and software development for Google’s data centers.
Milwaukee’s TechCanary Acquired by Applied Systems
In April, Milwaukee-based TechCanary, which makes insurance software for Salesforce, was acquired by Applied Systems, a University Park, Ill.-based insurance software company. Terms of the deal were not disclosed. TechCanary, one of Wisconsin’s fastest-growing companies, was founded in 2011 by Christopher Philips and Reid Holzworth. The startup developed a customer relationship management system for insurance agencies, brokerages, carriers and wholesalers on the Salesforce platform.
Fiserv Merges with Atlanta’s First Data for $22B
Brookfield-based payments provider Fiserv merged with Atlanta’s biggest payments provider, First Data, in a $22 billion all-stock deal. Fiserv’s president and CEO Jeffery Yabuki is serving as the new combined company’s CEO and chairman of its board of directors. Frank Bisignano, chairman and CEO at First Data, is now the company’s president, COO and director of the board.
Milwaukee School of Engineering Opens $34M Computer Science Hall
In September, the Milwaukee School of Engineering celebrated the grand opening of the Dwight and Dian Diercks Computational Science Hall. The 64,000-square-foot facility will focus on artificial intelligence, deep learning, cybersecurity, robotics and cloud computing. Located at 1025 N. Milwaukee St., the hall is supported by a $34 million donation from Dian and Dwight Diercks, who graduated from MSOE in 1990 and is now a member of the school’s Board of Regents. He is also the senior vice president of software engineering at California-based Nvidia.
Madison Startup AkitaBox Names Ex-Microsoft, Salesforce Exec as CEO
AkitaBox, a Madison-based startup that makes cloud-based facility management software, hired Matt Miszewski as its new chief executive in October. Miszewski previously worked at Microsoft, where he served as general manager of its global government industry. Prior to that, he was a senior VP for Salesforce. Most recently, Miszewski served as the CRO of Seattle startup Socrata, which was acquired by Tyler Technologies for $150 million in 2018. Miszewski replaced founding CEO Todd Hoffmaster, who stepped down from his role to “pursue other opportunities within the organization.”
20 Wisconsin Startups to Watch in 2020
On our annual Startups to Watch list, which published Dec. 16, we outlined a handful of Wisconsin startup companies that we feel could make big moves in the next year, whether that's raising sizable funding rounds, making acquisitions, accomplishing fast growth or simply continuing work on challenging problems.
On this list you won't find familiar names like Bright Cellars, Understory or EatStreet. Instead, our Startups to Watch list aims to spotlight the lesser-known companies that will be the headline makers of tomorrow.
This year’s honorees included Madison’s Carepool and Milwaukee’s Paxafe.
Wisconsin’s ‘Moonshot’ Startups
With 2019 being the 50th anniversary of the moon landing, Wisconsin Inno took a look at the local startups taking moonshot-like approaches to solving some of our most challenging issues. We took a deep dive into the startups that could have a massive impact on our society and how we live, and rounded up five startups working on projects with “moonshot” potential.
Inno Under 25: The Rising Wisconsin Tech Leaders to Watch
To get a sense of some of the state’s top young entrepreneurs, techies, builders and innovators, Wisconsin Inno unveiled its second-annual Inno Under 25 list this fall (you can check out last year’s list here). This year's list included young techies from Frontdesk and EatStreet, as well as entrepreneurs with their own innovative ideas.
