Excoastal Issue 49
A bunch of deals in Chicago and beyond...
Welcome to Excoastal, a newsletter covering deals, startups, venture capital, and more from Chicago to Boulder, Detroit to Columbus, and beyond. I’m Evan Lonergan, a native Midwesterner.
You can connect with me on Twitter @evanjlonergan, on Medium, and send deals/jobs/intel to evanlon92@gmail.com.
What’s New
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ICYMI: the updated the Excoastal Investors Airtable sheet:
Midwest Venture Capital Firms and Angels
Venture Capital Deals
TaxProper, a Chicago-based company focused on property tax tech, raised $2 million in funding. Khosla Ventures led the round and was joined by investors including Global Founders Capital, and Clocktower Ventures.
Journera, a Chicago-based real-time data exchange platform for travel companies, raised $11.6 million in Series B funding. Andreessen Horowitz and B Capital co-led and were joined by return backers Pritzker Group VC and The Boston Consulting Group.
Ocient, a Chicago-based provider of data analytics solutions for datasets, raised $15 million. OCA Ventures led the round and was joined by investors including In-Q-Tel. Term Sheet
M1 Finance, a Chicago-based automated money management platform, raised $33 million in Series B funding. Left Lane Capital led, joined by investors including Jump Capital and Clocktower Technology Ventures.
Canopy, an Indianapolis-based revenue intelligence platform, raised $2 million in seed financing. High Alpha Capital and Elevate Ventures led the round, joined by investors including IU Ventures and Service Provider Capital.
Madison, Wisconsin-based EnsoData, a startup that is using artificial intelligence to analyze the human body to diagnose health conditions, today announced the close of $9 million in a Series A financing led by Zetta Venture Partners and Venture Investors.
Minnesota-based HistoSonics, a developer of a noninvasive, sonic beam therapy platform, closed on an oversubscribed $40 million in Series C financing led by Yonjin Venture and joined by Varian Medical Systems, J&J, Venture Investors, Lumira Ventures, and State of Wisconsin Investment Board. The company's technology uses ultrasound imaging to target a point within the body, and sound energy to liquefy and destroy targeted tissues.
Lane, a Toronto-based tenant experience platform, raised $10 million in a Series A round. Round13 Capital led the round and was joined by investors including Alate Partners and Panache Ventures.
MycoTechnology, a Denver-based food tech startup focused on mushrooms, raised $39 million in Series D funding. Greenleaf Foods, SPC, S2G Ventures, and Evolution Partners co-led the round and were joined by investors including Rich Products Ventures, Tyson Ventures, Continental Grain, Middleland Capital, Bunge Ventures, Seventure Partners, Cibus Investments, and Kellogg's eighteen94 Capital. Term Sheet
Tackle.io, a Boise, Idaho-based software marketplace, raised $7.3 million in Series A funding led by Bessemer Venture Partners.
Chargeback, a Salt Lake City,-based dispute management platform for merchants, raised $6.6 million in Series A1 funding. Fintop Capital and Next Frontier Capital led the round and was joined by investors including Next Coast Ventures and Kickstart Fund. Term Sheet
Private Equity Deals
No notable tech PE deals.
M&A
Just Eat Takeaway agreed to acquire Chicago-based restaurant meal delivery company Grubhub in an all-stock deal valued around $6.5 billion dollars.
KSM Consulting, a portfolio company of Renovus Capital Partners, acquired Advocate Solutions, a Columbus-based IT services firm.
New Funds
Petra Capital Partners of Nashville raised $208 million for its fourth private equity fund.
What I’m Reading
Why are investors obsessed with churn?
What is good retention - Issue 29
The TikTok House Wreaking Havoc Next Door
Startup/VC Twitter
Podcast Addiction
Unbundling Journalism with Chris Best of Substack - Venture Stories
Culture Break
📚Read- Evicted by Mathew Desmond
🎬Watch- Da Five Bloods on Netflix
🎧Listen-
🧐Think- This Treasury Official Is Running the Bailout. It’s Been Great for His Family.
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