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October 19th Funding Report


Midwest Funding Roundup: October 19 – October 26

The Funding Roundup is a weekly note about companies that raised venture capital.  We use four sources – 1) those that are sent to us via press release ([email protected]), 2) Form D filings in the sixteen states that we cover, 3) Databases to which we subscribe (particularly Pitchbook, Crunchbase), 4) Other sources (such as SBIR grant database).  The goal of the funding roundup is to provide a quick synthesis of companies that are actively raising money.  This is not a value judgment placing VC backed companies over bootstrapped – only a recognition that VC backed companies often file paperwork that puts them on our radar.

The Twin Cities had a strong week with multiple significant deals.  After a couple of weeks of limited transactions, Minnesota appears to have seen some investment in health care related technologies.  This is a primary strength of the Minneapolis/St. Paul ecosystem where more than 100 healthcare companies have received venture capital since the beginning of 2019.  In addition, Wisconsin had multiple deals this week, as did Missouri.  This has been the first week since we started covering venture deals in the Middle that Chicago was outshined by any other community in the region.

Over $10 million

  • Arctic Wolf – Minneapolis, Minnesota – $200 million
  • Bind – Minneapolis, Minnesota – $105 million
  • RV Share – Akron, Ohio – $100 million
  • FinLocker – St. Louis, Missouri – $19.81 million
  • HomeThrive – Chicago, Illinois –  $14.75 million
  • 5th Column – Chicago, Illinois – $14 million

$2-10 million

  • Nice Healthcare – Minneapolis, Minnesota – $5 million
  • DataChat – Madison, Wisconsin – $4 million
  • Textel – St. Louis, Missouri – $4 million
  • Paytient – Columbia, Missouri – $3.86 million
  • Synthetaic – Delafield, Wisconsin – $3.5 million
  • Understory – Madison, Wisconsin – $3.5 million

$500k-2 million

Under $500k


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