From jewelry to restaurant equipment parts, Chicago startups are touching a wide variety of industries — and they are raising funds to continue innovating. Find out what some of these Chicago tech companies are up to with the Built In Chicago weekly refresh.
BriteCo gained $9M. BriteCo provides jewelry insurance with its direct-to-consumer insurance platform. The Series A round, led by Brand Foundry Ventures, brings the company’s total funding to $11 million. [Built In Chicago]
Parts Town acquired Encompass Supply Chain Solutions. Parts Town, which provides next-day delivery of restaurant equipment parts, acquired Encompass Supply Chain Solutions, a company providing OEM parts for electronics and appliances. The partnership will allow Parts Town to expand more into the market of appliance parts and other product categories. [Built In Chicago]
CHICAGO TECH QUOTE OF THE WEEK
“We take the mystery out of finance and give business operators confidence in their numbers and cash flow to empower their growth. The single best piece of information as a fractional CFO I used to give clients was ‘know your numbers.’ Having financial command reduces fear, allows management teams to take calculated risks and focuses them on what they do best to grow their businesses instead of relying on someone else, or spending valuable time wrangling spreadsheets.” – Fady Hawatmeh, Clockwork CEO and co-founder
Clockwork raised $2M. Clockwork is a minority-founded Chicago company working with small businesses to monitor finances and provide them with a five-year financial forecast. The funding round was led by Underscore VC. [Built In Chicago]
Parentaly gained $1.4M. Parentaly is a platform meant to support new working parents, primarily with parental leave. The company raised a seed round of $1.4 million that will go toward enhancing customer experience, increasing its offerings and scaling the company. [Parentaly]