Illinois Ventures

Illinois Ventures is a seed and early-stage technology investment firm focused on research-derived companies in information technologies, physical sciences and life sciences, with a particular emphasis on those deriving from research conducted at the University of Illinois and other regional research institutions and federal laboratories. Current investments reflect targeted practice areas in energy, device physics, advanced materials, biotechnology, medical devices and instrumentation, homeland security, and software. Illinois Ventures works with inventors & entrepreneurs to mold concepts, vision, intellectual property, sweat and passion into breakthrough, high-growth companies, and was recently named by Entrepreneur magazine to its list of the top 100 venture capital firms nationally for entrepreneurs.

Nancy Harvey Ph.D

Senior Director and Principal

Jeremy Hollis

Principal

Paul Magelli

Director, Illini Angels

Thomas Parkinson

Senior Director and Principal, Venture Partner

Nancy Sullivan

CEO and Managing Director

Past deals in Illinois

Ocient

Series B in 2021
Ocient is a developer of a data analytics platform designed to provide rapid analysis of massive datasets. The company's platform works on large datasets measured in tens of terabytes, petabytes, or exabytes with trillions or quadrillions of rows, as well as ingressing billions of rows per second, filtering, and computing aggregate results at rates of up to trillions of rows per second, allowing organizations to harness the power of large datasets at scale and velocity.

Network Perception

Seed Round in 2020
Network Perception, Inc. specializes in network device configuration analysis software designed to help organizations visualize and manage their network effectively. Established in 2013 and based in Chicago, Illinois, the company offers solutions that simplify firewall auditing and provide continuous monitoring capabilities. Its platform conducts automated, comprehensive analyses of network device configuration files, enabling organizations to assess firewalls and identify cyber vulnerabilities. By doing so, Network Perception assists corporate compliance and cybersecurity managers in ensuring that network configurations align with best practices and regulatory standards. The company initially launched in 2014 at the University of Illinois at Urbana-Champaign Research Park.

Amber Agriculture

Seed Round in 2020
Amber Agriculture, Inc. specializes in developing Internet of Things (IoT) sensor and analytics solutions aimed at automating grain storage monitoring and management for farmers. Founded in 2016 and headquartered in Chicago, Illinois, the company focuses on enhancing agricultural practices through technology. Its flagship product is an IoT self-install kit that allows farmers to automate the monitoring of crop quality and grain management processes. By utilizing wireless sensors and cloud analytics, Amber Agriculture enables farmers to effectively monitor and manage the condition of stored crops, minimize waste, and respond to market prices, all through a smartphone-connected system.

Apervita

Venture Round in 2019
With wasteful healthcare spending in the U.S. estimated at $935 billion, we take our role as a healthcare innovator very seriously. Simply put, we’re on a mission to transform quality measurement and care delivery. To drive toward a Learning Health System—a framework that drives better outcomes and cost efficiencies across the health ecosystem—the industry has to commit to real change. Apervita is that change. Through our solutions and trusted collaboration platform, we’re committed to making the Learning Health System a reality, making healthcare smarter and ultimately improving patient care. As we move into our next phase of growth, we’re looking for passionate and fearless professionals to help us pursue our mission. We’ve earned the trust of our investors, including Optum Ventures, Baird Capital, Pritzker Group Venture Capital and Math Venture Partners, to further grow and scale our business. We’ve also been recognized as an industry leader by Gartner, CIOReview, Healthcare Tech Outlook, and Healthcare Informatics. Always in search of the next “first,” Apervita was named the first company to certify electronic clinical quality measures from the National Committee for Quality Assurance (NCQA) using our proprietary clinical quality language (CQL) ingestion engine. And, we were recently awarded by Healthcare Innovation for our innovative work with The Joint Commission, one of the nation’s largest regulatory organizations. We believe we’re making a difference every day to drive improvements in quality care that lead to better patient outcomes with a lower cost of care. We’re honored to be on this incredibly important journey to build a better healthcare system.

Vitrix Health

Pre Seed Round in 2019
At Vitrix Health, we created a more accessible oral health screening solution. We use optics paired with machine learning on a mobile platform to enable medical primary care providers (PCP) to screen for oral diseases more effectively. Given the link between oral and systemic health, this improves outcomes and costs for the 108M Americans that don’t see a dentist but do see a doctor every year and other high-risk groups.[1] Our technology reduces disparities in oral health by empowering the PCP to detect disease and intelligently refer the right patients to a dentist. Our device is pilot testing in Mt. Sinai Hospital in New York, Carle Clinic in Illinois, and University Of Chicago Medical School in Illinois. We also have 2 international clinical trials with the Rotary Foundation in Bolivia and Manipal College of Dentistry in India.

EarthSense

Pre Seed Round in 2019
The lack of skilled labor in agriculture has led to an over-reliance on capital intensive machinery, synthetic chemicals, and simplified agricultural practices. This has led to the variety of bad effects from current agriculture including on the environment, food quality, and farmer profitability. In addition, the increasing unpredictability of weather and frequent extreme weather events are damaging our ability to provide the growing global population with food security. To address these problems, EarthSense has developed an agricultural robotics and AI platform with three key applications: (1) developing the next generation of more productive and sustainable crops, (2) helping growers obtain actionable intelligence from their fields, and (3) managing problems like herbicide resistant weeds. The EarthSense platform is built to be modular and easily extensible - so that other people can easily participate in innovating in the next generation of robotics and AI technology. As a result, our agricultural AI platform will enable a climate-smart agricultural system, improve plant and soil health, drive a reduction in use of chemicals and other expensive inputs.

Xaptum

Seed Round in 2018
Xaptum, Inc. is a Chicago-based company founded in 2013 that focuses on enhancing the security and management of Internet of Things (IoT) deployments. The company offers a messaging platform that facilitates the authentication, authorization, and auto-configuration of IoT devices over a single TCP connection. By providing a multi-tenant, network-as-a-service solution, Xaptum enables enterprises to connect their IoT devices to a secure, logical middle-mile network, effectively keeping them and their data shielded from the public Internet. This approach addresses key challenges in provisioning and managing IoT devices by implementing zero-touch identity and key management, thus allowing enterprises to scale their deployments securely. Xaptum's architecture is designed to simplify the complexities of IoT security, providing visibility, control, and flexibility for organizations looking to adopt and expand IoT technologies.

Mesh++

Pre Seed Round in 2017
Mesh++ is a solar-powered routers developer. Mesh++ uses mobile processing power to deliver a high-speed WiFi connection to outdoors and public places.

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.

Reconstruct

Seed Round in 2016
Reconstruct, Inc. specializes in predictive computer vision data analytics software tailored for construction projects. Its visual production management platform facilitates data collection through drones, fixed cameras, or mobile devices, enabling effective progress analysis and documentation. By visualizing images and 3D points aligned with Building Information Modeling (BIM), the platform enhances coordination and transparency among project stakeholders. It identifies locations at risk of delays, allowing for proactive weekly work planning, and integrates schedules with BIM animations to illustrate any changes in plans. Founded in 2016 and headquartered in Menlo Park, California, with an additional office in Champaign, Illinois, Reconstruct aims to improve construction management by fostering better communication and visibility, thereby mitigating risks and ensuring project returns on investment.

Aptimmune

Series A in 2016
Aptimmune is a biotechnology company that focuses on developing a muscoal vaccine against viral diseases swine. It focuses on swine vaccines and the prevention of two major diseases, Porcine Reproductive and Respiratory Syndrome virus (PRRSV) and influenza. It utilizes novel technologies to create effective nasal delivery vaccines against PRRSV such as the proprietary pig alveolar macrophage cell line ZMAC. The company was founded in 2010 and headquartered in St. Louis, Missouri.

Diagnostic Photonics

Series B in 2016
Diagnostic Photonics, Inc. is focused on advancing imaging technologies that aid physicians in the real-time evaluation of tissue microstructure. Founded in 2008 and based in Chicago, Illinois, the company has developed the Foresee Imaging System, which utilizes near-infrared light waves and interferometric synthetic aperture microscopy to produce diffraction-corrected images. This innovative system allows healthcare professionals to perform rapid, free-hand scans, enhancing their ability to locate and identify areas of interest within tissue samples. The technology originated from research conducted at the Beckman Institute for Advanced Science and Technology at the University of Illinois, a prominent interdisciplinary research facility.

PhotoniCare

Seed Round in 2015
PhotoniCare is a medical device company developing a patented imaging platform technology that provides growth opportunities beyond otology. Its ear diagnosis devices utilize advanced light-based technology to see through the eardrum to directly and harmlessly visualize the middle ear, determine quickly and easily the contents of the middle ear, and decide which antibiotics or surgical interventions might be needed.

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 biotech company developing and marketing innovative technologies and products that benefit the agricultural, energy, chemical, nutritional, and pharmaceutical sectors. Chromatin is unlocking the potential of plants to produce greater value and meaningful products for consumers, growers, seed producers, and bioprocessors. Chromatin is commercializing solutions that proactively address key societal challenges such as improving agricultural productivity and increasing 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 gesture-based products. The company's software integrates with motion-sensing devices, including wearables, smartphones, and connected sports equipment, to learn, track, and analyze user movements in real time. Rithmio's flagship product, Constellation, is designed for next-generation wearables and connected clothing, allowing brands to seamlessly incorporate gesture recognition into their devices. The company has established strategic partnerships with prominent semiconductor and consumer electronics manufacturers, supporting the integration of its technology at various levels, including system on chip and reference design. Founded in 2011 and headquartered in Chicago, Illinois, Rithmio was originally known as Neurogito, Inc. before rebranding in 2014.

Vanquish Oncology

Venture Round in 2014
Vanquish Oncology is a biotechnology company that develops targeted, small-molecule oncology therapeutics for unmet or underserved cancer markets. It features an advanced program in selectively triggering cancer cell death through activating procaspase 3, a key late-stage effector of apoptosis. The company was founded in 2011 and headquartered in Champaign, Illinois.

Chromatin

Series E in 2014
Chromatin is a biotech company developing and marketing innovative technologies and products that benefit the agricultural, energy, chemical, nutritional, and pharmaceutical sectors. Chromatin is unlocking the potential of plants to produce greater value and meaningful products for consumers, growers, seed producers, and bioprocessors. Chromatin is commercializing solutions that proactively address key societal challenges such as improving agricultural productivity and increasing 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 company that specializes in social data solutions aimed at enhancing consumer engagement for publishers, advertisers, and data-driven businesses. Founded in 2004 and based in Palo Alto, California, with additional offices in major U.S. cities, ShareThis offers a range of tools that include share buttons for various social media platforms, mobile sharing options, and advanced analytics. The company’s technology processes real-time user behavior data from millions of global domains, enabling businesses to capture sentiments and optimize their content through features like Social A/B testing and Viral Notifications. ShareThis is dedicated to transforming user-level data into actionable insights, aiding in customer acquisition and targeted marketing efforts.

Serionix

Seed Round in 2013
Serionix is a research and development company that develops materials for water and air purification. It develops air filters based on a proprietary adsorptive coating technology called Colorfil™, which changes colors as it removes toxic chemicals and odors from the air. It enables users to know when the filters are working and when they need to be replaced through this intuitive, vibrant color change.
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 biotech company developing and marketing innovative technologies and products that benefit the agricultural, energy, chemical, nutritional, and pharmaceutical sectors. Chromatin is unlocking the potential of plants to produce greater value and meaningful products for consumers, growers, seed producers, and bioprocessors. Chromatin is commercializing solutions that proactively address key societal challenges such as improving agricultural productivity and increasing renewable energy resources.

Personify

Series A in 2011
Personify Inc. is a technology company that specializes in video communication and collaboration solutions. Established in 2009 and headquartered in Chicago, Illinois, with additional offices in Silicon Valley and Vietnam, the company develops products that enhance virtual interactions. Its offerings include Personify for Collaboration, which allows users to connect live with colleagues and friends while sharing documents, videos, and interactive experiences. Additionally, Personify for Presentations supports sales teams and educational institutions by enabling users to present live or record sessions for later viewing, with features for personalized control through a smartphone application. The company is also known for its ChromaCam technology, which helps users manage their backgrounds during online meetings, thereby enhancing privacy and security. By leveraging computer vision, Personify aims to create immersive video experiences that foster meaningful connections across diverse environments.

Diagnostic Photonics

Series A in 2011
Diagnostic Photonics, Inc. is focused on advancing imaging technologies that aid physicians in the real-time evaluation of tissue microstructure. Founded in 2008 and based in Chicago, Illinois, the company has developed the Foresee Imaging System, which utilizes near-infrared light waves and interferometric synthetic aperture microscopy to produce diffraction-corrected images. This innovative system allows healthcare professionals to perform rapid, free-hand scans, enhancing their ability to locate and identify areas of interest within tissue samples. The technology originated from research conducted at the Beckman Institute for Advanced Science and Technology at the University of Illinois, a prominent interdisciplinary research facility.

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, formerly SmartSpark Energy Systems, was founded in 2004 to commercialize power electronics technologies created at the University of Illinois. In early 2009, they launched a new corporate strategy to focus exclusively on the solar industry with microinverter and monitoring solutions. The company has a major research and development site in Champaign, Illinois and has recently expanded to include a new corporate headquarters in Austin, Texas. Led by industry veterans and academic professionals, their mission is to reduce the Levelized Cost of Energy (LCOE) for solar installations by dramatically improving reliability, increasing energy production, and simplifying installation.

Local Offer Network

Series A in 2011
Local Offer Network (LON) connects vast and disparate sources of data, content, and consumers to present the right content to any person, anywhere, from the very first moment of contact. LON serves world-class organizations including MasterCard, Tribune, Gannett, Time Inc., Rogers Media, Supermedia, Yellow Pages Canada and many others. LON applications include: • Catalyst™: A personalization platform that merges data from multiple sources into an anonymous, composite user profile and draws relevant content for each user - in real time. Catalyst filters content through LON's proprietary Adaptive Response Model™ (ARM), an algorithm that predicts response based on years of historical consumer and market data and real-time activity. By being open to any data source, content source, or display location, Catalyst breaks through limitations of legacy personalization systems. • Syndicated Shopping Content Network: LON delivers tens of thousands of local and national retail offers and coupons to consumers each day through a network of partners that reach tens of millions of visitors. • VoucherPro™: a white label technology and operations platform used by publishers and manufacturers to create their own prepaid offer products. VoucherPro powers products for LA Times, Baltimore Sun, ParentsCanada and other blue-chip brands. • Dealradar™: a consumer one-stop shopping resource that serves users across more than 200 markets in four countries. LON clients and partners include MasterCard, Time Inc., Tribune Company, Supermedia, Gannett, Rogers Media, and many other leading brands.
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, founded in 2003 by pioneers of the World Wide Web, specializes in providing intelligent web information analysis services to businesses and government agencies. The company emerged from the University of Illinois' National Center for Supercomputing Applications, where its founders recognized the need for specialized data analytics solutions to help organizations efficiently gather, organize, merge, and analyze data from various online sources. By transforming the D2K software environment and partnering with IllinoisVENTURES, RiverGlass evolved from a research-focused initiative into a dynamic startup. Today, it offers a suite of services including intelligent web search and enterprise search, tailored to meet the information needs of Fortune 1000 companies and governmental organizations that require access to accurate and often obscure data to drive decision-making.

RiverGlass

Series B in 2007
RiverGlass, founded in 2003 by pioneers of the World Wide Web, specializes in providing intelligent web information analysis services to businesses and government agencies. The company emerged from the University of Illinois' National Center for Supercomputing Applications, where its founders recognized the need for specialized data analytics solutions to help organizations efficiently gather, organize, merge, and analyze data from various online sources. By transforming the D2K software environment and partnering with IllinoisVENTURES, RiverGlass evolved from a research-focused initiative into a dynamic startup. Today, it offers a suite of services including intelligent web search and enterprise search, tailored to meet the information needs of Fortune 1000 companies and governmental organizations that require access to accurate and often obscure data to drive decision-making.

ShareThis

Series A in 2007
ShareThis, Inc. is a company that specializes in social data solutions aimed at enhancing consumer engagement for publishers, advertisers, and data-driven businesses. Founded in 2004 and based in Palo Alto, California, with additional offices in major U.S. cities, ShareThis offers a range of tools that include share buttons for various social media platforms, mobile sharing options, and advanced analytics. The company’s technology processes real-time user behavior data from millions of global domains, enabling businesses to capture sentiments and optimize their content through features like Social A/B testing and Viral Notifications. ShareThis is dedicated to transforming user-level data into actionable insights, aiding in customer acquisition and targeted marketing efforts.

Radio One Llama

Series A in 2007
Radio One Llama is a comprehensive platform that serves as a hub and search engine for online radio stations. The company specializes in acoustic and cultural analysis, as well as collaborative filtering tools designed for music and video navigation. Its offerings include a machine learning system called Classify, which assists music aggregators in organizing digital music for easier browsing and purchasing. Additionally, Radio One Llama provides a Search application that integrates various methods of acoustic similarity searching with playlist and social networking analysis. This combination enhances the music discovery process, allowing users to explore and create playlists efficiently.
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
Mobitrac, Inc. specializes in developing software tailored for delivery services, focusing on location and time-based mobile resource management. Founded in 2001 and based in Chicago, Illinois, the company offers a robust database engine and industry-standard APIs that facilitate the creation and deployment of services for fleet management, mobile workforce optimization, and mobile commerce. In addition, Mobitrac provides a graphical interface designed to streamline dispatch operations and improve communication with drivers. Its client base includes trucking companies, package delivery services, service fleets, and third-party logistics providers. In 2006, Mobitrac was acquired by Fluensee, Inc.
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