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CHICAGO INNO'S 19 STARTUPS TO WATCH IN 2019
Chicago's tech scene has had an eventful 2018, with major acquisitions, big funding rounds, local expansions by Silicon Valley tech giants, and of course, a failed attempt at HQ2 all generating plenty of headlines.
But each year Chicago Inno hits the pause button on the daily startup news grind to look ahead at the companies poised to make headlines in the year to come. In our annual Startups to Watch post, we outline a handful of Chicago tech companies that we feel could make big moves in 2019, whether that's large funding rounds, acquisitions, fast growth or simply continued work on challenging problems.
In our list of 19 Startups to Watch in 2019, you'll find consumer startups and B2B platforms. Hardware makers and software solutions. Celebrity messaging apps and migraine-fighting nasal spray.
Chicago has one of the most diverse economies in the world, and the city's startup scene reflects that. On this list you'll find travel startups, data privacy startups, blockchain startups, healthcare startups, food startups and more. The goal of this list is to identify 19 up-and-coming startups we think you should have your eye on--whether that's because a company's caught the attention of local investors, has a founding team with a track record of success, has shown signs of high growth, or is taking a big swing at an important problem.
On January 24, we'll be hosting a meet-up where you can meet some of this year's Startups to Watch in person. More details will be announced on that soon, but you can snag a ticket here.
Without further ado, here are your 19 Chicago startups to watch in 2019.
4Degrees
Chicago startup 4Degrees has built an online platform to help users manage important contacts in their professional network. The startup, which participated in Techstars Chicago in 2017, raised $1 million earlier this year. The company was founded by Ablorde Ashigbi and David Vandergrift, two former venture capitalists at Pritzker Group VC. The company uses machine learning to help you leverage your networks and find people who can be most helpful for specific topics. Its initial focus is on VC/PE, recruiting and real estate industries.
Aegis AI
Founded in 2018, Aegis uses artificial intelligence to help security teams identify a gun before the trigger is ever pulled. The startup, founded by Sonny Tai, a UChicago Booth grad who served in the U.S. Marine Corps, and Ben Ziomek, a Microsoft vet who led a team of AI engineers, hooks into an organization’s existing security cameras and uses AI to automatically identify anyone who’s brandishing a firearm. Once Aegis AI spots a weapon, it alerts the security team who then notifies law enforcement. The startup’s pilot customers include a private school in Chicago and a school district in Seattle.
Attest
This year Cab Morris and Jennifer O’Rourke, two former state of Illinois employees in charge of blockchain initiatives, launched Attest, a blockchain startup that stores digital versions of government and corporate IDs. Similar to how a digital cryptocurrency wallet lets you hold things like Bitcoin and Etherium, Attest’s product lets you digitally store your identification, like a driver’s license or social security card. The startup announced a partnership with Deloitte in November to assist government clients with digital identity solutions.
Autobon AI
Headquartered in Lisle, IL, Autobon AI brings driver assistance technology to existing semi-trucks. The startup, which participated in Techstars’ 2018 Detroit accelerator program, helps trucking companies upgrade their existing fleets to make them safer and more efficient. Eventually the startup says it wants to ultimately automate the highway portion of long-haul trucking trips with its Autopilot platform.
Cameo
Perhaps no Chicago startup in 2018 saw more media coverage than Cameo. The startup, which lets you buy video shout-out messages from celebrities, went viral this year with its app that lets you send messages to your friends from celebrities like Lance Bass and Bret Favre. Cameo raised a $12.5 million Series A this year from investors like Lightspeed Venture Partners, Pritzker Group Venture Capital and LinkedIn CEO Jeff Weiner. Its platform has accumulated thousands of celebrities, which includes YouTube celebrities, Instagram influencers and gamers, who in total have sent nearly 100,000 Cameo messages. However, the company got in hot water recently when an alt-right hate group used Cameo to trick celebrities into sending coded anti-Semitic messages. The startup says it has implemented tools to prevent those issues from happening going forward.
CancerIQ
CancerIQ, a Chicago cancer-fighting startup with roots at the University of Chicago, makes software for healthcare providers that allows them to identify patients who have a genetic predisposition to certain cancers. Physicians can use CancerIQ to either catch a patient’s cancer early or prevent it altogether. The startup has nearly 30 clients, both private practices and larger healthcare systems, such as Advocate Health Care, OSF HealthCare and Adventist Health System. It has raised $5 million to date from Michael Polsky, KGC Capital and Lightbank.
Chowly
Chowly helps restaurants better manage their delivery orders across a variety of services—like UberEats and Grubhub. Chowly simplifies the food ordering process for restaurants by eliminating the need to have different point of sale systems for different ordering companies. This year it raised $5.8 million from investors including MATH Venture Partners, Chicago Ventures, Hyde Park Venture Partners, M25 and Valor Equity.
Dais
Dais, founded by Jason Kolb, the founding CTO of Chicago startup Uptake, has been building a platform for insurance companies since the startup launched in late 2016. Dais’ platform is helping insurance carriers and agencies with a range of workplace efficiencies, from workflow automation to billing to using data to quantify risk. Dais isn’t operating as a digital agency, such as startups like Lemonade, but rather aligning with existing insurance companies to help them use technology to improve their processes. It raised a $5 million seed round in 2016 and this year it raised another $9 million. Dais’ backers include EMC Insurance and Jewelers Mutual.
HAAS Alert
HAAS allows emergency vehicles to communicate with nearby drivers when ambulances, fire trucks and other service vehicles are approaching. With its R2V (Responder-to-Vehicle) technology, HAAS Alert can send messages to drivers through their navigation apps or in-vehicle infotainment units. It works with navigation service Waze and automakers such as Ford and Jaguar Land Rover. In 2018 it raised $1.8 million from the Department of Homeland Security to leverage input from active and retired first responders across the country to improve its tech.
HappiLabs
Chicago startup HappiLabs is helping scientists manage their lab supplies. It makes a management and marketplace platform that reduces the cost of lab supplies for scientists in academic and biotech labs. Based on pricing data the startup collects, it purchases supplies and equipment on behalf of its clients for the lowest prices possible. This year HappiLabs participated in Y Combinator, a selective accelerator program in Silicon Valley where it received $120,000 in seed funding.
Journera
Journera has built a software platform to create seamless travel journeys to help people book better trips. Journera’s software allows travel companies to communicate with each other and provide end-to-end travel journeys for their customers. For example, if an individual’s flight is delayed, the car rental, hotel and dinner reservations would all automatically adjust to the new flight schedule, eliminating the need for the passenger to contact all the parties individually. Launched by Orbitz founder Jeffrey Katz, Journera raised $9 million this year from investors that include Andreessen Horowitz and Pritzker Group Venture Capital. It also has commercial agreements in place with companies like American Airlines, Hilton, InterContinental Hotels Group, Marriott International and United Airlines.
Manifest
Manifest makes 401(k) transfers seamless as employees switch jobs by standardizing the process and linking providers to dramatically reduce administrative costs, compliance liabilities and time. Manifest won first place and $315,000 at the University of Chicago's 2018 New Venture Challenge.
Nubundle
Chicago startup Nubundle makes family planning support and insurance available as an employee benefit. The startup was founded earlier this year by John Ciasulli, Uptake’s previous COO and one of its earliest employees, and Chris D’Cruz, who was previously head of business and corporate development at Raise. Through Nubundle, employees have access to a family planning concierge who can provide fertility support, access to affordable fertility treatments, and financing and insurance options. This year it raised $1.5 million from Lightbank and NFP Ventures.
NUMiX Materials
NUMiX is a Chicago startup that has made technology that removes toxic metals from water. It provides industrial water treatment solutions from a platform of patented ion exchange materials that it says can remove toxic heavy metals more efficiently than current technology. The startup won first place and $30,000 at Northwestern University’s VentureCat competition earlier this year. NUMiX also won the clean energy prize and $50,000 at the Rice Business Plan Competition.
Seed CX
Chicago startup Seed CX is a cryptocurrency startup that helps investors get the tech infrastructure they need to add cryptocurrencies to their portfolios and trading strategies. The startup raised a $15 million round in 2018, and its investors include Bain Capital Ventures, 500 Startups and FinTech Sandbox.
Seurat Therapeutics
Seurat, a biotech startup founded within the University of Chicago, has built a nasal spray that aims to fight migraines. The drug works by lessening the cause of oxidative stress, which can lead to headaches if the neurons in the brain are going haywire. In October, the startup received a $500,000 grant from the National Institute of Neurological Disorders and Stroke. Prior to that, it raised $750,000 in seed funding in March.
Spring Labs
Based in both Chicago and LA, Spring Labs uses blockchain technology to allow lenders and data providers to exchange identity information more securely and efficiently. The startup was launched by the founders of Avant, a Chicago lending startup valued at more than $2 billion. Spring Labs has raised around $15 million in venture capital, and it generated headlines in October when it hired President Donald Trump’s former chief economic aide Gary Cohn to its board of advisors.
The Minte
Chicago startup The Minte wants to bring hotel-style cleanings to apartment buildings. Founded in 2017, The Minte puts physical buttons on the walls of apartment units, allowing residents to push whenever they need a cleaning. The startup offers hotel-style cleanings, which include tidying up, bathroom cleanings, vacuuming and kitchen counter wipe downs, starting at $30 for a 1-bedroom apartment. The Minte currently offers its services in 25,000 units across Chicago and Washington, D.C., and is adding 12 new properties each month. It raised $2.25 million in November from backers that include Dundee Venture Capital, MATH Venture Partners and Revolution’s Rise of the Rest Seed Fund.
Winston
Founded earlier this year, Winston helps with online privacy and data protection through a hardware device that sits in your home. Winston connects to your cable modem and wireless router and keeps you from being hacked, tracked, and makes sure all your home’s connected devices are safe from online bad guys. Named after Winston Smith, the protagonist in George Orwell’s novel “1984,” Winston’s anti-tracking technology encrypts your internet connection to help keep out hackers, protect from corporate and government surveillance, and even increase your internet speed by blocking ads that follow you around the web. The startup raised a $1 million seed round led by New Stack Ventures. Other backers include Founder Equity and M25.
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