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Top Chicago Startups to Watch (and Work for) in 2023

July 14, 2023
      |      Kieran Ryan
The bean in chicago

My Background

Hi, I'm Kieran! I worked in startups for five years at On Deck and Wefunder. Some of my favorite things that I've worked on during my career include:

  • Wefunder Workaway: 12 founders working on a new idea, 7 days, 1 mansion in Hawaii. One of the teams we picked raised a Series A from Andreessen Horowitz, and two people who met during the trip got married...
  • On Deck: As employee #15, I contributed to the startup's growth from no revenue to a $20 million run rate in less than a year. I led the team that built the admission infrastructure to support and scale ~20 fellowships for founders, capital allocators, operators, and creators.
  • XX: Worked on a pre-YC accelerator program that invested $125K on an MFN SAFE into 8-10 teams per cohort.
  • ODX: Worked on a $100 million accelerator program that invested $125K for 7% into 100s of startups. We partnered with leaders like Flexport to build vertical industry tracks around supply chain & logistics, etc.
  • Ryan Marketing: Created an influencer marketing startup (2 million+ Instagram followers) during college with my twin brother and realized early that monetization for creators was broken. I learned a lot, and it paid enough to cover my schooling, rent, and meals.

The Methodology

I considered several data points to arrive at the startups selected on this list, including company traction, funding raised, valuation, and investors. From my initial list, I then referenced each startup with my personal network to narrow down the list to the one you see below. I take my credibility seriously, so I do not take any money from startups who want to be included on this list to remain impartial. If you want to understand my analysis of startups and prefer long-form content, read my research on the top startups of 2023 afterward.

Tempus Logo

Tempus

AI-enabled precision medicine.

Headquarters

Chicago, Illinois

Industry

Healthcare, Artificial Intelligence (AI)

Founded

2015

Funding

$1.3 billion

Valuation

$8.1 billion

Traction

  • As of June 2023, Tempus reported 50%+ of all Academic Medical Centers in the US are connected to Tempus, 40%+ of oncologists in the US are connected to Tempus through sequencing, clinical trial matching and research-enabled partnerships, and 90% of the top 20 pharma oncology companies partner with Tempus.
  • As of June 2023, Tempus reported 170+ biopharma partnerships, 6 million+ de-identified research records to power scientific discovery to improve patient outcomes, 20,000+ patients identified for potential enrollment into clinical trials in its network, and 100+ petabytes of data.
  • In March 2023, Tempus closed three major pharma contracts with Pfizer, GSK, and AstraZeneca, representing ~$700 million in revenue over the next few years.
Cameo Logo

Cameo

Personalized videos featuring your favorite stars.

Headquarters

Chicago, Illinois

Industry

Consumer, Creators, Marketplace

Founded

2016

Funding

$165.7 million

Valuation

$1 billion+

Traction

  • As of June 2023, Cameo has 12+ Cameo millionaires on the platform.
  • As of June 2023, Cameo’s Represent brand has helped talent donate $30 million+ to charities.
  • Between February 2021 and February 2022, Cameo for Business worked with 12,000 unique customers.
  • Between 2020 and February 2022, Cameo for Business saw 500% booking growth.
  • As of December 2021, Cameo’s talent roster was nearly 50,000.
  • As of December 2021, Cameo has fulfilled 2.5 million cameo recordings.
White letter "P" on purple background.

Protege

Access to the best experts in the world.

Headquarters

Chicago, Illinois

Industry

Consumer

Founded

2021

Funding

$8.5 million

Valuation

Undisclosed

Traction

  • As of May 2023, Protege experts on the platform include Jake Posner, Scooter Braun, DJ Khaled, Lance Stewart, Baby Ariel, and H.E.R.
Obie Logo

Obie

Insurance for landlords and real estate investors.

Headquarters

Chicago, Illinois

Industry

Real Estate, Fintech, Insurance

Founded

2017

Funding

$39.2 million

Valuation

Undisclosed

Traction

  • As of May 2023, Obie insures more than $20 billion worth of properties and is available in all 50 states.
  • As of May 2023, Obie has 1,000+ customers and partners with over 75 prop-tech companies, including Roofstock, Flock Homes, Baselane, Awning, and Marketplace Homes.
  • From May 2021 to May 2023, Obie reported a 300% growth in written premiums.
Tovala Logo

Tovala

Fresh meal delivery service.

Headquarters

Chicago, Illinois

Industry

Food & Beverage, Food Delivery

Founded

2015

Funding

$68.6 million

Valuation

Undisclosed

Traction

  • As of February 2021, Tovala reported that annualized revenue grew by 10x in the last 18 months, and they’ve shipped 3 million meals to date.
  • As of February 2021, Tovala says their customers use their ovens 32 times per month.
Fly.io Logo

Fly.io

Deploy app servers close to your users.

Headquarters

Chicago, Illinois

Industry

Dev Tools

Founded

2017

Funding

$110.5 million

Valuation

Undisclosed

Traction

  • From June 2022 to June 2023, Fly.io reported its virtual machines have grown by 12x.
ShipBob Logo

ShipBob

Global e-commerce fulfillment solution.

Headquarters

Chicago, Illinois

Industry

E-commerce

Founded

2014

Funding

$330.5 million

Valuation

$1 billion+

Traction

  • As of June 2023, ShipBob has 7,000+ customers, up from 5,000 in June 2021, including 100 Thieves, Chamberlain Coffee, Dossier, The Adventure Challenge, Hero, Spikeball, and TB12 Sports.
  • As of June 2023, ShipBob reported 99.96% of orders ship on time within SLA, a 99.95% accuracy rate in fulfilling orders, and 40+ fulfillment centers across 6 countries.

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