A slow period for venture funding hasn’t halted innovation on the Chicago tech scene. Last year, local companies in industries spanning security, biotech, marketing and more pulled in moderately sized capital raises to enhance their solutions and expand their businesses. Read on to learn how these rounds could shape an upcoming year of growth for the Windy City tech scene.
Largest Chicago Tech Funding Rounds in 2023
- Augmedics
- Evozyne
- Mediafly
- Coro Security
- Fly.io
#5. $70 million, June 27
Fly.io helps small companies launch and run their applications on low-latency servers at an affordable price point. Following its funding from last year, the company recently secured a fresh round of capital led by EQT Ventures to develop a fleet of hardware to run its solution and expand into more geographic regions.
#4. $75 million, April 19
Backed by its latest round of capital from Energy Impact Partners, Coro Security announced plans to invest in R&D, growth through mergers and acquisitions as well as hiring new talent. The company operates an AI-powered, cloud-based platform that works to help businesses address their cybersecurity software needs.
#3. $80 million, August 29
Operating a revenue enablement solution, Mediafly is designed to help enterprise sales and marketing teams create and share content while improving their reach across multiple buyers and sellers. The company pulled in $80 million to add new capabilities and services to its platform.
#2. $81 million, September 27
Biotech company Evozyne develops novel protein systems with the goal of enabling a healthier world. It secured a round of Series B funding that will help build its generative AI-powered drug discovery platform and fuel product development. Fidelity Management & Research Company and OrbiMed spearheaded the round.
$1. $82.5 million, September 27
Leveraging augmented reality to improve outcomes of spinal surgery, Augmedics pulled in a round of Series B funding led by CPMG to expand its commercial footprint in the United States and build out the next generation of its tech. The company’s wearable xvision Spine System solution allows doctors to view an AR overlay of a patient’s spine on their back while performing surgery.
