A handful of new technological advances have been seen in an easy-going week on the lakefront. Many companies are opening new Chicago offices and others are raising new capital. Learn more about this latest news in the Built-in Chicago Weekly Refresh.
The tech company has opened a new office in Chicago. From the old post office building to Fulton Market, technology companies are opening their doors to support Windy City staff. Names including Focused Labs, Bartesian and Food Rocket are just a few of the companies that have expanded their presence in Chicago from across the country. Others, including Logik.io and Applied Systems, are deepening their local roots. [Built In Chicago]
Front $ 65M secured. Located in San Francisco with an office in Chicago, Front makes customer communication software. Its technology enhances team collaboration capabilities and customer interaction with customer data, enabling teams to provide personalized feedback. Co-led by Salesforce Ventures and Battery Ventures, its Series D is valued at $ 1.7 billion and brings its total funding to $ 204 million. The round will further assist in the development of fuel products and front-end go-to-market initiatives. The Front is currently recruiting for various roles. [BusinessWire]
Chicago Technology Quotes of the Week
“Companies can’t hire enough security engineers to ensure proper security in their IaC and cloud environments. Budgets are being cut across the industry and many companies are lacking talent at a time when we need more, not less. Oak9 helps solve that problem. , Automation reduces both cost and exposure so you can do more with less. ” – Raj Dutt, CEO of oak9
Oak9 $ 8M pulled. Led by Menlo Ventures, the latest round of oak9 will help it build its infrastructure as a code (IaC) solution. By providing cloud-native business services, the company will invest in increasing the free community version of its platform and help introduce a protection as a code offer. In the last 15 months, oak9 has collected a total of $ 14 million. [oak9]
FTX can achieve robinhood. Robinhood, a California trading platform, has seen a slowdown since its IPO. As the company improved during the trading boom of the epidemic, equity and crypto markets have declined since then. Although there is no formal M&A discussion between the two companies, the crypto exchange platform FTX is discussing internally how it could potentially achieve Robinhood. FTX is “excited” about Robinhood’s business prospects. [Bloomberg]