Technori acquisition another boost for local startups

Chicago startup Technori was acquired last month by Boston-based KingsCrowd in an all-stock deal.

Why it matters: Chicago startups had a strong run in 2021 and so far in '22, but the groundwork for that success was laid by companies like Technori.

• Launched nearly a decade ago as an event-based startup that lets investors pitch on stage, the company helped grow Chicago's tech and entrepreneurial ecosystem.
• Its pitch events hosted several notable founders over the years, including Cameo's Steve Galanis in 2017.
• Technori later evolved into a podcast and radio show on WGN-AM.

Details: KingsCrowd connects businesses and private market investors through analytics and research that vet startups raising funding.

What's next: Technori's Scott Kitun is stepping down as CEO but will continue to host podcasts and write newsletters.

What they're saying: "While the private online market is projected to hit $10 trillion over the next decade, the best part of this deal is my ability to continue supporting underestimated founders and investors by showcasing and providing access to deal flow and diligence," Kitun tells Axios.

The big picture: More and more investors are looking to fund local founders thanks to businesses like Cameo, Songfinch, and Protégé putting Chicago on the national stage.