“Our mission at Catapult is to help our companies succeed, so it’s exciting to see from the year-over-year numbers that Catapult companies, are, in fact, succeeding."
Chicago, Illinois (PRWEB) March 31, 2016
Catapult Chicago, a selective community of technology startups with business traction, today celebrates its fourth anniversary and commemorates its efforts helping 35 of Chicago’s tech startups accelerate and scale.
Catapult has been dedicated to building a network of rising startup companies, with over 90 percent of Catapult companies still in business today. Data from Catapult’s Four-Year Anniversary Survey, culled from Catapult’s 35 current resident startups and alumni companies, show Catapult companies:
- raised nearly $100 million in funding in four years; a 65 percent increase in funding from $60 million in Year 3
- employ more than 525 people; a 31 percent increase in workforce from 400 in Year 3
- project to increase headcount by 62 percent (growing to 850 people) in 2016
“Every year, the community we’re building at Catapult gets stronger. Already in 2016 we’ve welcomed three new companies to our network,” said April Lane, Executive Director of Catapult Chicago. “Our mission at Catapult is to help our companies succeed, so it’s exciting to see from the year-over-year numbers that Catapult companies, are, in fact, succeeding. The larger and more established our network becomes, the better mentorship and guidance we can provide our residents and the greater influence we’ll have on the entire Chicago tech ecosystem.”
Catapult differentiates itself from other co-working spaces by creating an environment that encourages startup founders, who are at a similar stage in the startup lifecycle, to interact with and learn from one another. For example, Catapult hosts bi-monthly Founder’s Forums, where resident and alumni founders gather to share experiences and work through challenges.
“Founder’s Forums have made a huge impact on our business,” said Mike Doyle, CEO of current Catapult resident and Shark Tank winner Rent Like A Champion. “The relationships with other CEOs and companies have been great. Being able to ask for advice on how to deal with things like legal and personnel challenges and even build friendships has been invaluable for us and our business.”
Catapult Chicago opened its doors in 2012 with seven companies. In four years, 35 startups have called Catapult home, in addition to the numerous associate residents that have passed through. Of the 23 Alumni Companies, 20 are still operational, with one exit. Notable alumni include: Shiftgig, BucketFeet, Procured Health, Opternative, Packback, LearnCore and Matchup.
Today, Catapult is home to 12 resident startups: 911 Security, The Black Sheep, Conferences i/o, Jio, The Junto Institute, MortgageHippo, Occasion, Page Vault, Rent Like A Champion, Rippleshot, Rithmio and Roompact.
About Catapult:
Catapult Chicago is a selective community of technology startups that have demonstrated business traction. Located in the heart of Chicago’s River North neighborhood, Catapult is home to serious entrepreneurs committed to leading their companies to the next stage of growth. Catapult provides a coworking environment conducive to both hard work and community. As a non-profit, Catapult does not take equity in its resident companies, instead it relies on the generosity and guidance of service providers to support the community. For more information, visit http://www.catapultchicago.com.
