9 Recently Funded Illinois-Based Companies
By: Administrator 10/10/2014
Everyone knows funding is important when it comes to developing a business. Not only does it allow companies to pay their bills, it helps legitimize their trajectory and progress in the eye of the consumer. Whether in the form of seed investments, or through the sale of Senior Notes, these companies based in or around Chicago, Illinois are sure to impress us with their investment spending in the future.
1. Morsel Labs 0
Everyone has a favorite restaurant: ever wonder what the story is behind the menu? Morsel, a Chicago startup created in 2012, has created an app that gives you the chef’s vision behind what you are eating and drinking. By connecting the consumer with the chef’s intent, CEO Kris Peterson says consumers will enjoy their food more. Morsel is growing; with recent seed money totaling $800,000 from entrepreneurs such as co-founder of Grubhub, Matt Maloney.
2. Food Evolution 0
Food Evolution, established in 2001 from the ground up, produces high-end food solutions for businesses looking for quality food, wrapped in gourmet packaging designs. From salads to sandwiches, fruit trays to full on entrees, Food Evolution provides food for clients all across the Midwest, and is located just outside of Chicago, in Schiller Park, IL. They recently received funding from Balance Point Capital Partners, who are located out of Westport, CT.
3. Fidus Investment Corporation 0
Home to Evanston, IL, Fidus Investment Corporation provides financing solutions for middle-market companies. They specialize in mezzanine debt, senior secured debt, and equity securities, but invest in larger and smaller companies occasionally. Advantages of Fidus Investment Corporation include public liquidity, as well as an advantageous tax structure. They have recently announced that they are offering common stock to the public.
4. Manifest Digital 0
As one of the largest independent digital marketing agency in the Midwest, its no wonder they refer to themselves as a “lab” and not an “agency.” Founded in 2001, they have 150 employees between their offices in Chicago, IL and St. Louis, MO. Manifest Digital works with tech and design communities in Chicago, and even offer classes in UX design. They recently received a $6 million investment from NewSpring Mezzanine which they intend to use as means for “accelerated growth and innovation” in the coming year.
5. Ncyclo Corp 0
Ncyclo Corp provides a customer analytics platform that enables their clients to create conversions for their marketing stratagem. For each client, Ncyclo puts together a team of marketing experts that assist with data-extraction, insight on cross channel marketing influences, and audience insights. By implementing platform algorithms and human input, Ncyclo is a leader in marketing attribution. They recently received venture funding from SNS, a private equity group.
6. Ventas, Inc 0
As an S&P 500 company, Ventas, Inc. is a leading real estate investment trust with over 1500 assets across the United States, Canada, and the United Kingdom, most of which are in the medical industry. They provide management, leasing, marketing, and facility development. They have just completed the sale of senior notes to “permitted clients” to repay part of their outstanding debts accrued through the acquisition of 29 independent living senior housing communities located in Canada.
7. Old Republic International Corporation 0
Old Republic International Corporation is one of the largest publicly held insurance companies. In addition to insurance security, they provide general insurance, mortgage guaranty, as well as title, health, and life insurance. Their common stock has had a 73 yearlong cash dividend payment record, with a history of long-term capital appreciation. Additionally, their subsidiaries market, underwrite, and provide risk management services. They have recently issued the sale of Senior Notes to help fund general corporate expenses.
8. Rithmio 0
Rithmio, out of Champaign, IL, is a gesture recognition platform that can be integrated with a variety of devices by learning the sensor characteristics of a particular device. Easily customizable to prototypes, Rithmio also provides their code libraries so developers can integrate the platform easily. They just received seed funding amounting to $650,000 from Malwarebytes, Illinois Ventures, Techra Investments, Hyde Park Venture Partners, Serra Ventures, BonaVentura, and Fox Ventures.
9. AccuRadio 0
AccuRadio is an Internet radio property that hosts a variety of channels. Based in Chicago, Illinois, it is a customizable online radio platform with over 1000 channels. They developed a popular iOS app that allows users to access custom stations on the fly. By providing links to the artists’ albums on Amazon.com, AccuRadio helps sell around $40,000 worth of CD sales a month. They received $2.5 million in funding from L.A.-based company NantWorks LLC, to further develop their brand.