As the month of July came to a close, startups and tech giants were busy in Chicago closing funding rounds and announcing future plans. Read on to learn about Google’s plan to buy the Thompson Center and Fly.io’s recent capital raises. This is the Built In Chicago Weekly Refresh.
Google announced plans to buy the Thompson Center. Google said it has agreed to buy the Thompson Center, located in the Chicago Loop, for $105 million. The building will be used as office space for the company as it plans to hire hundreds of new employees. Google won’t occupy the Thompson Center until 2026. This will be Google’s second office space in the Windy City. Currently, it occupies space in Fulton Market. [Built In Chicago]
PriceLabs raised $30M. PriceLabs helps rental property owners set competitive prices for their rental units, such as apartments and vacation homes. After growing threefold in just one year, the company recently raised $30 million in a round led by Summit Partners. The platform is used by over 150,000 property listings. [Built In Chicago]
Chicago Tech Quote of the week
“Applications should run close to end users — full stop — but due to outdated clouds causing complications and high costs, we rarely see that as the case. Fly.io’s public cloud solves that pain point and with this funding, we’ll be able to continue toward our goal of being the standard for the new cloud stack and improving the developer experience.” — Kurt Mackey, CEO and co-founder of Fly.io
Fly.io closed two funding rounds. Fly.io provides delivery network services for small companies and developers in need of servers to run applications with low latency. The company announced that it closed a $12 million Series A round and a $25 million Series B round, totaling $37 million in new funding. With the fresh capital, the Chicago-based company is looking to hire new talent as it aims to increase its national footprint. [Built In Chicago]
86 Repairs pulled in $15.2M. Restaurant equipment is in constant need of servicing or repairs, and the 86 Repairs’ platform makes the process easy. The company recently raised a $15.2 million Series A led by Storm Ventures. With the new money, the company is looking to fund product development as well as increase its revenue. [Built In Chicago]
S.I. Container Builds opened a new facility. S.I. Container Builds (SICBS) makes affordable living and rental spaces out of recycled shipping containers and recently opened a new facility in the Chicago area. According to the company, the new facility will help it increase production as it now has an in-house painting booth, welding station and other key components. The move comes a few months after SICBS raised a $1.7 million seed round. [Busissnes Wire]