|Karis: Apparently Chicago startups are into this whole venture capital thing. Three startups announced higher-than-usual funding rounds today.
Let’s start with the biggest. Jim, what’s Fusion Risk Management going to do with an extra $41M in its pocket?
Jim: Fusion, which announced a $41M round today, helps large companies plan for and respond to emergencies through a software platform that creates plans for companies to follow when disaster strikes. This funding round, led by New York-based Catalyst Investors and existing investor Level Equity, will go toward product development, customer service, sales and marketing.
Founded in 2006, the Rolling Meadows-based company has raised over $50M to date. The company counts around 160 Fortune 500 companies among its clients, including Walgreens and TransUnion, according to Crain’s. The company has also grown quickly in recent years, having gone from 18 employees to more than 70 in two and a half years. [More here]
Karis: Next: ShipBob. The startup, which helps e-commerce companies handle shipping and logistics, announced it raised a $17.5M Series B round led by Bain Capital Ventures, with participation from Hyde Park Venture Partners, FundersClub, Hyde Park Angels and FJ Labs LLC. Since launching in 2014, ShipBob says it has shipped more than 2M packages, and its business is growing 500 percent year over year. [More here]
Finally, Snapsheet. The Chicago insurance tech startup that helps people virtually file insurance claims, just raised $12M. The Series D round, led by Tola Capital, brings the 7-year-old startup’s total funding to over $43M (the startup raised $20M just last year). Snapsheet will use the additional funds to improve on their tech using artificial intelligence and machine learning. [More here]
In Chicago, I’m used to seeing smaller rounds for startups just getting off the ground, so it’s pretty exciting to see three mainstay startups not only stick around, but get the capital they need to keep growing.