[marothisu]

A few pieces of good news including 2 companies getting very recent major (and one major major) rounds


Chicago tech companies raised $2.8B in 2020 as pandemic doesn't slow VC funding

https://www.bizjournals.com/chicago/...8-billion.html

The Covid-19 pandemic didn't slow down the amount of money flowing to Chicago's startups in 2020 as the city's tech scene raised nearly $3 billion in venture capital funding last year.

In an increase from 2019's decade high of $2.2 billion, Chicago tech companies raised $2.8 billion in 2020, according to a new report from Pitchbook and the National Venture Capital Association. It's the most raised in Chicago since Pitchbook began tracking VC statistics in 2006.

Despite new highs in Chicago VC funding, the majority of capital remained concentrated in the country's traditional tech hubs. The Bay Area ($61.5 billion), New York ($19.3 billion), L.A. ($19.3 billion) and Boston ($16.9 billion) were far and away the top cities for VC funding in 2020. Chicago also fell behind Seattle, which raised $4.5 billion last year, but outpaced cities like Austin ($2.3 billion), Denver ($2.6 billion) and Atlanta ($2 billion).

Siemens, Others Invest in Digital Transformation Leader ThoughtWorks

https://www.builtinchicago.org/2021/...es-720m-hiring

Global software consultancy ThoughtWorks announced Thursday it raised $720 million from GIC, Siemens AG, Fidelity Management and Research LLC and Mubadala Investment Company, which it will use to buy back equity from current investors and expand its international footprint.

In short, ThoughtWorks helps its clients design, build and execute digital products. Founded in Chicago in 1993, the company has become a leader in agile software development, spearheading the digital transformation of major brands like Delta, Porsche and the Australian Red Cross along the way.

Now, more than 25 years later, ThoughtWorks has more than 7,000 employees around the world, and is valued at $4.6 billion.

Enfusion Gets $150M Cash Infusion, Valuing Company at $1.5B

https://www.builtinchicago.org/2021/...estment-hiring

On Monday, Enfusion announced that it received a $150 million investment from ICONIQ Growth. This minority investment values the Chicago-based fintech company at $1.5 billion and sets it up for further growth.

..

In addition, the company also grew its team by 78 percent in 2020. Enfusion has offices across the world, and is currently hiring in several of them — including its Chicago HQ.