FourKites tops Chicago's recent software industry investments

Chicago's software industry is on a roll with investors, with seven local companies securing venture capital. New funding rounds were recently announced by software companies FourKites, Clearcover, Catalytic, Third Eye Health and Chowbus, according to company database Crunchbase.

FourKites topped the city's recent funding headlines by announcing a $50 million Series C round on February 5, led by August Capital.

According to its Crunchbase profile, "FourKites is the real-time supply chain visibility platform that Fortune 500 companies and 3PLs trust to track shipment location and temperature and proactively manage exceptions. Using a proprietary predictive algorithm to calculate shipment arrival times, FourKites enables customers to lower their operating costs, improve on-time performance, and strengthen their end-customer relationships. Using FourKites, blue-chip shippers and 3PLs share the same, real-time shipping location and status information from more than four million GPS/ELD devices."

The five-year-old company has raised four previous funding rounds, including a $35 million Series B round in 2018.

Next up, Clearcover raised $43 million in Series B funding, in a round announced on January 22 and led by Cox Enterprises.

According to Crunchbase, "Clearcover is the smarter car insurance choice, offering better coverage for less money. Clearcover's API-first approach enables customers to have great insurance at affordable rates. The company's powerful technology coupled with their dedicated Customer Advocate team ensures a quality experience."

The company also raised an $11 million Series A round in 2017.

Meanwhile, Catalytic raised $30 million in Series B funding, announced on February 4. The round's investors were led by Intel Capital.

From the company's Crunchbase profile, "Imagine if completing a business process was actually... simple. All your systems talked to one another and exchanged data freely. Manual, labor-intensive tasks were taken off your team's plate."

Catalytic last raised $5.5 million in Series A funding in 2018.

Also of note, health care company Third Eye Health raised $7.2 million in Series A funding, announced on February 18 and led by Generator Ventures.

From Crunchbase, "Third Eye Health is a national healthcare company providing high quality remote and bedside medical care to acute, post-acute, and senior care organizations."

The company previously raised $1 million in 2016.

Rounding out the city's top local funding events, restaurant services company Chowbus raised $4 million in a seed round, announced on January 23 and led by FJ Labs.

From Crunchbase, "Fantuan Group, Inc. develops an online Asian food ordering application. It allows users to order food from one or multiple restaurants. The company delivers Chinese, Korean, Thai, and Japanese food from the menus displayed on the applications interface."

The company previously raised $1 million in pre-seed funding in 2018.

Overall, Chicago-based software companies have raised $135 million in venture funding over the past month, and $966 million over the past year.
---

This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.