Illinois Ventures

Illinois Ventures is a venture capital firm established in 2000 and based in Chicago, Illinois. It specializes in seed and early-stage investments in technology-driven companies, particularly those originating from research at the University of Illinois and surrounding research institutions. The firm focuses on sectors such as information technologies, physical sciences, and life sciences, with specific interests in areas like energy, advanced materials, biotechnology, medical devices, and homeland security. By collaborating with inventors and entrepreneurs, Illinois Ventures aims to transform innovative concepts and intellectual property into high-growth businesses. The firm has gained recognition for its contributions to the entrepreneurial ecosystem and has been listed among the top venture capital firms nationally by Entrepreneur magazine.

Nancy Sullivan

Chief Executive Officer, Managing Director and Managing Principal

Past deals in Illinois

Ocient

Series B in 2021
Ocient Inc., founded in 2018 and based in Chicago, Illinois, specializes in analytical software solutions designed for managing large-scale databases. The company focuses on developing a near-real-time database and data analytics platform capable of handling petabyte- to exabyte-scale data sets. Established by a team with a notable history in the software industry, Ocient benefits from a highly skilled engineering team composed of computer scientists from prestigious universities and organizations. The company aims to provide innovative solutions that enhance data analysis capabilities for its clients.

Network Perception

Seed Round in 2020
Network Perception is providing a pioneering network device configuration analysis software to visualize and manage their network. The company delivers a pioneering solution that enables corporate compliance and cybersecurity managers to gain a complete view of their network security and to immediately determine if its configuration is in alignment with best practices and regulatory standards Network Perception was launched in 2014 at the University of Illinois at Urbana-Champaign Research Park.

Vitrix Health

Pre Seed Round in 2019
Vitrix Health, Inc. is a company focused on designing and developing innovative screening tools for the healthcare industry, specifically targeting oral health. Founded in 2018 and based in Champaign, Illinois, Vitrix Health offers a mobile platform that utilizes optics and machine learning to assist primary care providers in effectively screening for oral diseases. This technology aims to improve health outcomes for millions of Americans who do not regularly visit a dentist but do see a doctor, thereby addressing disparities in oral health. The company's oral cancer screening device, along with its associated application, facilitates early-stage detection and prevention of oral diseases. Vitrix Health is currently conducting pilot tests at various healthcare institutions, including Mt. Sinai Hospital and the University of Chicago Medical School, and is involved in international clinical trials in Bolivia and India. Through its innovative approach, Vitrix Health seeks to empower healthcare providers to detect diseases early and refer patients for timely dental care.

EarthSense

Pre Seed Round in 2019
EarthSense, Inc. develops robots for providing management advice for farmers and ranchers. Its product TerraSentia, an ultracompact, autonomous, teachable robot that uses low-cost sensor on-board computation with multiple sensors, embedded data collection, and analytics software for plant phenotyping. The company is based in Champaign, Illinois.

Xaptum

Seed Round in 2018
Xaptum, Inc. develops messaging platform for the internet. It enables IoT device authentication, authorization, and auto-configuration for messaging over a single TCP connection. The company was incorporated in 2013 and is headquartered in Chicago, Illinois.

Mesh++

Pre Seed Round in 2017
Mesh++ is a developer of solar-powered wireless communication technologies aimed at providing high-speed WiFi access in public spaces and remote areas. The company specializes in solar-powered routers that leverage mobile processing power to deliver reliable internet connectivity outdoors. By focusing on sustainable solutions, Mesh++ enables users to access high-speed internet at a low cost, enhancing connectivity in environments where traditional infrastructure may be lacking.

Petronics

Seed Round in 2017
Petronics develops and offers robotic pets for cats. It offers Mousr, a robotic toy that includes 360-degree vision, environmental sensing, and Bluetooth features. Petronics was founded in 2014 and is based in Champaign, Illinois, United States.

Amber Agriculture

Convertible Note in 2017
Amber Agriculture, Inc. develops Internet of things-based sensor and analytics solutions to automate farmer’s grain storage monitoring and management. Its technology is used to manage, protect, and market grain. Amber Agriculture, Inc. was founded in 2016 and is based in Chicago, Illinois.

Reconstruct

Seed Round in 2016
Reconstruct, Inc. specializes in predictive computer vision data analytics software tailored for construction projects. The company's visual production management platform facilitates data collection using drones, fixed cameras, or mobile devices for comprehensive progress analysis and documentation. It visualizes images and 3D points aligned with Building Information Modeling (BIM) through a web interface, enhancing coordination and transparency among project stakeholders. The platform identifies locations at risk of delays, supporting proactive weekly work planning, and integrates schedules with BIM animations to illustrate changes. Established in 2015, Reconstruct is headquartered in Menlo Park, California, with an additional office in Champaign, Illinois.

Aptimmune

Series A in 2016
Aptimmune Biologics Inc. is a biotechnology company dedicated to the development of prophylactic measures against viral diseases affecting swine. Founded in 2010, the company focuses on creating innovative mucosal vaccines to prevent significant diseases such as Porcine Reproductive and Respiratory Syndrome virus (PRRSV) and influenza. Aptimmune employs novel technologies, including a proprietary pig alveolar macrophage cell line known as ZMAC, to enhance the efficacy of its nasal delivery vaccines. While the company was originally based in St. Louis, Missouri, its operations are currently located in Champaign, Illinois.

Diagnostic Photonics

Series B in 2016
Diagnostic Photonics, Inc. specializes in advanced imaging technologies designed to aid physicians in the real-time assessment of tissue microstructure. Founded in 2008 and headquartered in Chicago, Illinois, the company has developed the Foresee Imaging System, which produces diffraction-corrected images to enhance tissue evaluation. The innovative imaging technology stems from research conducted at the Beckman Institute for Advanced Science and Technology at the University of Illinois, known for its interdisciplinary approach to scientific advancement.

PhotoniCare

Seed Round in 2015
PhotoniCare, Inc. is a medical device company founded in 2013 and based in Champaign, Illinois. The company develops advanced diagnostic tools aimed at improving the standard of care for patients with ear infections. Its primary product, the TOMi Scope, utilizes near-infrared light waves to provide three-dimensional views of the middle ear, allowing physicians to see beyond the eardrum. This innovative device leverages patented technology derived from bioengineering research at the University of Illinois at Urbana-Champaign, addressing the limitations of traditional otoscopes, which can only provide surface-level views. By enabling more accurate screening and diagnosis of ear diseases, PhotoniCare aims to enhance patient outcomes and streamline the diagnostic process for healthcare providers.

Persio

Series A in 2015
Persio’s multi-channel marketing and decision platform put the power of personalization into marketers’ hands. Built to meet the needs of retailers, Persio connects marketers’ existing data sources, technology solutions, deployment channels, and identity resolution services into a single, interoperable interface so that marketers can deploy data-driven and personalized campaigns across web, email, SMS, mobile apps and other sales channels to reach customers with relevant offers at their most responsive point.

Chromatin

Series F in 2015
Chromatin is a biotechnology company focused on developing and marketing innovative agricultural products, particularly hybrid, drought-tolerant sorghum seeds. By utilizing advanced breeding methodologies and combining diverse sorghum varieties, Chromatin aims to meet the growing demand for sustainable agricultural systems. Its products are designed to thrive in various climates, making them suitable for cultivation on over 80% of the world's agricultural land. This versatility enables farmers to optimize crop production for both traditional agricultural markets and bio-industrial applications, which include the creation of renewable chemicals, materials, and fuels. Through these efforts, Chromatin addresses key societal challenges related to agricultural productivity and renewable energy resources.

Revenew

Venture Round in 2014
Revenew is a through-channel marketing automation (TCMA) platform that brings control, transparency, and a holistic view of localized marketing. With Revenew, enterprise brands are able to market to, through, and for their partners at scale; empowering partners to market, compete, and grow in their local area.

Rithmio

Seed Round in 2014
Rithmio, Inc. specializes in gesture recognition technology, offering a platform that enables the development of accurate and personalized gesture-based products. Its software, known as Constellation, is designed to integrate with various motion-sensing devices, including wearables, smartphones, and connected sports equipment. By operating at the sensor, operating system, or application level, Rithmio's technology tracks and analyzes movements in real time, facilitating the creation of advanced wearable technology and connected clothing. The company has established partnerships with leading semiconductor firms and consumer electronics manufacturers to embed its technology at the System on Chip level. Founded in 2011 and initially known as Neurogito, Rithmio rebranded in 2014 and is based in Chicago, Illinois.

Vanquish Oncology

Venture Round in 2014
Vanquish Oncology, Inc., a drug development company, focuses on targeting molecular defects in specific cancer cells to create personalized oncology therapeutics for unmet and underserved cancer markets. The company's product compounds target a cellular enzyme, procaspase-3, that when activated spurs reactions that kill the cancer cell. The company was incorporated in 2011 and is based in Champaign, Illinois.

Chromatin

Series E in 2014
Chromatin is a biotechnology company focused on developing and marketing innovative agricultural products, particularly hybrid, drought-tolerant sorghum seeds. By utilizing advanced breeding methodologies and combining diverse sorghum varieties, Chromatin aims to meet the growing demand for sustainable agricultural systems. Its products are designed to thrive in various climates, making them suitable for cultivation on over 80% of the world's agricultural land. This versatility enables farmers to optimize crop production for both traditional agricultural markets and bio-industrial applications, which include the creation of renewable chemicals, materials, and fuels. Through these efforts, Chromatin addresses key societal challenges related to agricultural productivity and renewable energy resources.

Phi Optics

Seed Round in 2013
Phi Optics Inc. develops optical imaging systems for life sciences, medical diagnostics, nanotechnology, and semiconductor testing applications. It offers Quantitative Phase Imaging, a label-free, non-contact, and non-invasive imaging method for measuring nanoscale structures and dynamics via interferometry. The company was founded in 2009 and is based in Champaign, Illinois.

Revenew

Series B in 2013
Revenew is a through-channel marketing automation (TCMA) platform that brings control, transparency, and a holistic view of localized marketing. With Revenew, enterprise brands are able to market to, through, and for their partners at scale; empowering partners to market, compete, and grow in their local area.

Persio

Series A in 2013
Persio’s multi-channel marketing and decision platform put the power of personalization into marketers’ hands. Built to meet the needs of retailers, Persio connects marketers’ existing data sources, technology solutions, deployment channels, and identity resolution services into a single, interoperable interface so that marketers can deploy data-driven and personalized campaigns across web, email, SMS, mobile apps and other sales channels to reach customers with relevant offers at their most responsive point.

ShareThis

Series C in 2013
ShareThis, Inc. is a social data platform that focuses on consumer engagement and sharing tools designed for publishers, advertisers, and data-driven businesses. The company provides real-time processing of first-party data, enabling users to capture online sentiments and drive engagement and traffic. Its offerings include share buttons for various social media channels, mobile sharing options, and tools for Social A/B testing to optimize content performance. Additionally, ShareThis features a Real-Time Marketing Engine that assists brands in activating audiences across multiple screens and digital ad formats. Established in 2004 and previously known as Nextumi, Inc., ShareThis has its headquarters in Palo Alto, California, with additional offices in Chicago, Manhattan Beach, New York City, and Boston. The company has been collecting and analyzing social share data since 2007, transforming sharing behavior into actionable insights for marketers and publishers.

Serionix

Seed Round in 2013
Serionix, Inc. specializes in the development of advanced purification solutions for air and water using innovative materials such as fibrous activated carbon and ion-exchange substances. The company designs and produces filters intended for air purifiers and heating systems, effectively removing toxic chemicals and odors while also eliminating viruses, bacteria, and mold. Founded in 2011 and headquartered in Champaign, Illinois, Serionix focuses on research and development to enhance the performance of its purification technologies.
Buzz Referrals enables companies to have their own referral programs that integrate with both social media and their company websites. The company is specialized in e-mail, mobile, and native advertising.

Chromatin

Series D in 2011
Chromatin is a biotechnology company focused on developing and marketing innovative agricultural products, particularly hybrid, drought-tolerant sorghum seeds. By utilizing advanced breeding methodologies and combining diverse sorghum varieties, Chromatin aims to meet the growing demand for sustainable agricultural systems. Its products are designed to thrive in various climates, making them suitable for cultivation on over 80% of the world's agricultural land. This versatility enables farmers to optimize crop production for both traditional agricultural markets and bio-industrial applications, which include the creation of renewable chemicals, materials, and fuels. Through these efforts, Chromatin addresses key societal challenges related to agricultural productivity and renewable energy resources.

Personify

Series A in 2011
Personify specializes in the fields of presentations, software, and videos. Personify uses technologies in computer vision to develop fresh and immersive video experiences. These experiences facilitate real and meaningful connections with everyone, everywhere. It was founded in 2009 and headquartered in Chicago, Illinois.

Diagnostic Photonics

Series A in 2011
Diagnostic Photonics, Inc. specializes in advanced imaging technologies designed to aid physicians in the real-time assessment of tissue microstructure. Founded in 2008 and headquartered in Chicago, Illinois, the company has developed the Foresee Imaging System, which produces diffraction-corrected images to enhance tissue evaluation. The innovative imaging technology stems from research conducted at the Beckman Institute for Advanced Science and Technology at the University of Illinois, known for its interdisciplinary approach to scientific advancement.

Caterva

Seed Round in 2011
Caterva, a development stage company, intends to develop a real-time social-marketing platform. The company was formerly known as Yottaclick, Inc. and changed its name to Caterva, Inc. in September, 2010. Caterva, Inc. was incorporated in 2008 and is based in Champaign, Illinois.

SolarBridge Technologies

Series C in 2011
SolarBridge Technologies, originally founded as SmartSpark Energy Systems in 2004, specializes in power electronics technologies developed at the University of Illinois. In 2009, the company shifted its focus to the solar industry, offering advanced microinverter and monitoring solutions. With major research and development facilities in Champaign, Illinois, and a corporate headquarters in Austin, Texas, SolarBridge is led by experienced professionals from both industry and academia. The company's mission centers on reducing the Levelized Cost of Energy (LCOE) for solar installations by enhancing reliability, boosting energy production, and streamlining installation processes.

Local Offer Network

Series A in 2011
Local Offer Network connects data sources to present the right content for visitors
Advanced Diamond Technologies, Inc. engages in developing and applying diamond films for industrial, electronic, and medical applications. It offers AFM probes, ultrananocrystalline diamond seals, and ultrananocrystalline diamond wafers for MEMS development and UNCD product prototyping. The company also provides MEMS, applications development, and coating services. In addition, it offers UNCD Electrodes for advanced electrochemical water treatment applications. Further, the company operates as a licensee to the Argonne portfolio of application and process patents for using, synthesizing, and micromachining ultrananocrystalline diamond films. It offers its products through its Website, as well as through distributors in the United States and internationally. Advanced Diamond Technologies, Inc. was incorporated in 2002 and is based in Romeoville, Illinois.

TetraVitae Bioscience

Series A in 2008
TetraVitae Bioscience is developing biobased chemicals, plastics, and fuels. Their proprietary technology and expertise in the fields of industrial fermentations, process engineering, microbiology, and cellulosic feedstocks will dramatically lower the costs of production, allowing them to compete with and replace petroleum-derived products.

RiverGlass

Venture Round in 2008
RiverGlass is the Internet information solution from people who actually helped create the Internet RiverGlass was founded in 2003, by some of the original pioneers of the World Wide Web and originators of Web data analytics. The University of Illinois' National Center for Supercomputing Applications (NCSA) played a key role in the birth and growth of the Internet and NCSA Mosaic was the first widely used graphical search engine whose offspring include both Microsoft Internet Explorer and Netscape Navigator. Michael Welge, head of NCSA's automated learning group, recognized the tremendous benefit of offering more specialized, highly selective data analytics solutions to help businesses and governments gather, organize, merge and analyze data from disparate sources throughout the Internet. He then transformed the D2K (data-to-knowledge) software environment when he co-founded the company that is RiverGlass today. To launch the business, the company partnered with IllinoisVENTURES, a service firm that works with University of Illinois researchers to turn university research projects into viable commercial ventures. With their help, a software solution for a select group of researchers was transformed into a dynamic startup with tremendous business growth opportunity. Today, RiverGlass delivers software solutions to a prestigious list of Fortune 1000 companies and governmental agencies for which access to accurate, concise and oftentimes obscure information is essential.

RiverGlass

Series B in 2007
RiverGlass is the Internet information solution from people who actually helped create the Internet RiverGlass was founded in 2003, by some of the original pioneers of the World Wide Web and originators of Web data analytics. The University of Illinois' National Center for Supercomputing Applications (NCSA) played a key role in the birth and growth of the Internet and NCSA Mosaic was the first widely used graphical search engine whose offspring include both Microsoft Internet Explorer and Netscape Navigator. Michael Welge, head of NCSA's automated learning group, recognized the tremendous benefit of offering more specialized, highly selective data analytics solutions to help businesses and governments gather, organize, merge and analyze data from disparate sources throughout the Internet. He then transformed the D2K (data-to-knowledge) software environment when he co-founded the company that is RiverGlass today. To launch the business, the company partnered with IllinoisVENTURES, a service firm that works with University of Illinois researchers to turn university research projects into viable commercial ventures. With their help, a software solution for a select group of researchers was transformed into a dynamic startup with tremendous business growth opportunity. Today, RiverGlass delivers software solutions to a prestigious list of Fortune 1000 companies and governmental agencies for which access to accurate, concise and oftentimes obscure information is essential.

ShareThis

Series A in 2007
ShareThis, Inc. is a social data platform that focuses on consumer engagement and sharing tools designed for publishers, advertisers, and data-driven businesses. The company provides real-time processing of first-party data, enabling users to capture online sentiments and drive engagement and traffic. Its offerings include share buttons for various social media channels, mobile sharing options, and tools for Social A/B testing to optimize content performance. Additionally, ShareThis features a Real-Time Marketing Engine that assists brands in activating audiences across multiple screens and digital ad formats. Established in 2004 and previously known as Nextumi, Inc., ShareThis has its headquarters in Palo Alto, California, with additional offices in Chicago, Manhattan Beach, New York City, and Boston. The company has been collecting and analyzing social share data since 2007, transforming sharing behavior into actionable insights for marketers and publishers.

Radio One Llama

Series A in 2007
Radio One Llama is a hub and search engine for online radio stations.
Advanced Diamond Technologies, Inc. engages in developing and applying diamond films for industrial, electronic, and medical applications. It offers AFM probes, ultrananocrystalline diamond seals, and ultrananocrystalline diamond wafers for MEMS development and UNCD product prototyping. The company also provides MEMS, applications development, and coating services. In addition, it offers UNCD Electrodes for advanced electrochemical water treatment applications. Further, the company operates as a licensee to the Argonne portfolio of application and process patents for using, synthesizing, and micromachining ultrananocrystalline diamond films. It offers its products through its Website, as well as through distributors in the United States and internationally. Advanced Diamond Technologies, Inc. was incorporated in 2002 and is based in Romeoville, Illinois.

MOBITRAC

Venture Round in 2005
As of September 18, 2006, MOBITRAC, Inc. was acquired by Fluensee, Inc. MOBITRAC, Inc. designs and develops software for delivery services. The company offers a database engine and industry standard APIs that enable the creation and deployment of location and time based mobile resource management services for fleet, mobile workforce, and mobile commerce applications. MOBITRAC also provides a graphical interface for dispatch and drivers. Its clients include trucking companies, package and delivery services, service fleets, and third-party logistics providers. The company was founded in 2001 and is based in Chicago, Illinois.