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Illinois companies raised more money in Q2 thanks to one major deal

July 15, 2016

Illinois just had its best second-quarter haul of venture capital in years thanks to a single deal, according to one national scorecard.

Most of the quarter's investments were in the $5 to $10 million range, in early- and expansion-stage companies, which raised more than $88 million combined. But two later-stage, business-to-business companies — SMS Assist and SpringCM, which offers cloud-based document management for businesses — took in the most dollars. SpringCM announced a raise of $17.5 million in June.

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