附近上门

Illinois’s startup market in 2018 was very strong, and it鈥檚 not slowing down as we settle into 2019. There鈥檚 already almost $100 million in new VC funding announced, so let鈥檚 take a quick look at the state of venture in the Land of Lincoln (with a specific focus on Chicago).

In the chart below, we鈥檝e plotted venture capital deal and dollar volume for Illinois as a whole. Reported funding data in 附近上门 shows a general upward trend in dollar volume, culminating in nearly $2 billion worth of VC deals in 2018; however, deal volume has declined since peaking in 2014. 1

Chicago accounts for 97 percent of the dollar volume and 90.7 percent of total deal volume in the state. We included the rest of Illinois to avoid adjudicating which towns should be included in the greater Chicago area.

In addition to all the investment in 2018, a number of venture-backed companies from Chicago exited last year. Here鈥檚 a selection of the bigger deals from the year.

• After raising in total venture funding, meal kit delivery company was .
• Government technology platform provider was acquired by for . The company had raised from investors prior to the acquisition.
• , an employee benefits company, was acquired by insurance giant . Maestro Health had raised roughly .

Crain鈥檚 Chicago Business that 2018 was the best year for venture-backed startup acquisitions in Chicago 鈥渋n recent memory.鈥� 附近上门 News has previously shown that the Midwest (which is anchored by Chicago) may have fewer startup exits, but the exits that do happen often result in better multiples on invested capital (calculated by dividing the amount of money a company was sold for by the amount of funding it raised from investors).

2018 was a strong year for Chicago startups, and 2019 is shaping up to bring more of the same. Just a couple weeks into the new year, a number of companies have already announced big funding rounds.

Here鈥檚 a quick roundup of some of the more notable deals struck so far this year.

• On Thursday, commercial real estate search firm raised , extending the Deerfield, IL-based company鈥檚 Series A round. The deal was led by Boston-based . The deal bring鈥檚 Truss鈥檚 total equity and debt funding to .
• Learning management system company announced $20 million in a Series C round co-led by Chicago-based and Bay Area-based . Part of that capital comes in the form of debt. The for the round, dated December 2018, discloses that $14.53 million was raised in an equity offering, of which $2,999,999 was used to buy shares from 鈥渃ertain executive officers鈥� at the company.
• Delivery service raised , which was led by Next47. in the deal include , , and . Bringg鈥檚 customers include Walmart and McDonalds. The company has raised in known venture funding to date.

Besides these, a number of seed deals have been announced. These include relatively large rounds raised by 3D modeling technology company , upstart futures exchange , and 24/7 telemedicine service .

Globally, and in North America, venture deal and dollar volume hit new records in 2018. However, it’s unclear what 2019 will bring. What’s true at a macro level is also true at the metro level. Don’t discount the City Of The Big Shoulders, though.