Jim: We’re officially on to the Round of 32 in our Tech Madness bracket. Check out who’s moving on, and be sure to cast your vote to help your favorite Chicago tech company make the Sweet 16.
Now, let’s kick a Beat…
The Big One
A breakdown on the day’s biggest Inno story.
Katherine: Another Chicago startup is getting acquired by Salesforce. Jim, give us the details.
Jim: CloudCraze, an enterprise commerce platform founded in 2009, announced that it has signed a definitive agreement to be acquired by Salesforce. CloudCraze raised more than $30M in venture funding to date. Terms of the deal weren’t disclosed.
The acquisition makes sense for both CloudCraze and Salesforce. CloudCraze’s B2B commerce software is built natively on the Salesforce platform, and Salesforce Ventures backed the startup’s $20M round in 2017.
This isn’t the first time Salesforce has acquired a local startup. Godard Abel’s price-quoting startup SteelBrick, though technically not based in Chicago but had a large presence here, was bought by Salesforce for $300M in 2015. Other Chicago startups that have been acquired by Salesforce include Gravitytank, ÄKTA, Model Metrics and Instranet.
CloudCraze’s customers include plenty of household names—like Coca-Cola, AB InBev, GE, L’Oreal and Kellogg’s—who use the startup’s software to generate online revenue and stay connected with customers. The platform allows companies to see all of their customer data instantly, and share information across channels.
Salesforce has a large Chicago presence with around 1,000 local employees.
Read More: Chicago Startup CloudCraze to be Acquired by Salesforce
Inside the people, companies and organizations making moves in Chicago.
Jim: Speaking of Chicago tech companies whose software is built on the Salesforce platform, we have another acquisition to report. Chicago-based Talent Rover has been acquired by Boston-based Bullhorn, a cloud computing company that provides staffing and recruiting software. Talent Rover’s staffing and recruitment software platform launched in 2011, and it has raised mover $12M to date. More here.
Katherine: Chicago-based investment research tool YCharts announced today that it has added cryptocurrency data to its platform. YCharts users can now track, compare and understand current and historical end-of-day pricing data for the top 25 cryptocurrencies by market cap. More here.