New Money is a roundup of all the funding deals raised by Chicago-area tech companies this week. As more news comes out, this post will be updated.
OfficeLuv
Deal: $3.8 million
Investors: KDWC Ventures, KGC Capital, Formation 8 and 500 Startups.
What they do: OfficeLuv is a startup that makes scheduling office cleanings and communicating with cleaning staff more efficient. The startup's iPad and web-based platform lets companies manage their office cleanings, and allows for back and forth communication between cleaners and office tenants, letting cleaners leave notes when things in the office need fixing and letting businesses create to-do lists for cleaning staff.
Other details: OfficeLuv was born out of Roniin, Paul Lee's investment fund and startup accelerator. The company competes with Managed by Q, a New York-based office cleaning startup. The company's round was first reported by Crain's.
SpringCM
Deal: $4.25 million
Investors: Unknown
What they do: SpringCM, a content management company that provides cloud document management and workflow solutions for businesses, raised $4.25 million, according to an SEC filing. The company offers contract management, collaboration and workflow tools developed for Salesforce users, and its clients include Facebook, Enova, and Blue Cross Blue Shield.
Other details: Launched in 2005, SpringCM has raised more than $50 million in equity and debt.
HighGround
Deal: $7.6 million
Investors: The round was led by KDWC, with additional investment from existing investors Columbus Nova Technology Partners and Lightbank.
What they do: HighGround, a cloud-based HR platform that helps companies build engaged office cultures, raised $7.6 million, according to an SEC filing. The platform lets employees recognize each other's accomplishments, gives managers tools to give coaching and feedback, and provides executives with real-time data visualizations of the organization’s health.
Other details: HighGround (whose office is pictured above) has raised more than $17 million since launching in 2012.
Cumulus Funding
Deal: $6 million Series A.
Investors: The round was led by Continental Investors, with participation from HC Technologies, D-W Investments, Bridge Investments and Service Provider Capital.
What they do: Cumulus Funding is a consumer loan company that provides customers with an "Income Share Agreement," a tool that allows people to receive funds in exchange for a small percentage of their income. Since launching in 2012, Cumulus Funding says it has provided Income Share Agreements to over 500 customers.
Other details: The company also announced Friday that it raised a $25 millino debt financing facility.
Image courtesy of HighGround
