Top Angel Investors Who Fund SaaS Startups In Illinois
Globally, the SaaS market is expected to grow around $10 Trillion by 2030. But, is the sector growing in Illinois? Do we have some exceptional SaaS businesses that are thriving in the city?
Well, Yes! The SaaS sector is currently growing at an exceptional rate and there are almost 20 startups who have achieved the Unicorn state within this sector.
Similarly, Illinois also hosts tons of startup investors who are ready to fuel the growth of the startups. These investors don’t just invest capital but also provide experienced mentorship to their portfolio companies.
So, without wasting any time, here is the list of the top 7angel investors in Illinois.
Table of content
- Here are the Top Angel Investors Who Fund SaaS Startups in Illinois
- Armando Pauker
- Terry Kiwala
- Justin Smollar
- Christopher Graber
- Brain Grady
- Iman Jalai
- Chris Hoehn-Saric
- Wrap-Up:
Here are the Top Angel Investors Who Fund SaaS Startups in Illinois
Armando Pauker
- Reach Out:LinkedIn
- Focused Sectors: Enterprise Software, Health Care Information Technology, Big Data Analytics, Artificial Intelligence, Enterprise Security, AI, Cybersecurity, Digital Health, Enterprise Applications
- Present In: Chicago, San Francisco, Atlanta, Austin, and San Diego
- Notable Investments: Duo Security, Anokiwave, BrightCloud, Triggr Health, Bitnami, Impossible Objects 3D printing with carbon fiber, Genivity, Polymer, Health DataLink, Observable Networks
Armando Pauker is one of the most famous and notable angel investors based in Chicago. He currently serves as a General Partner for Apex Venture Partners.
During the investment deals, Armando typically supports startups in exchange for equity. He prefers to fund startups that can promise at least 4x ROI within the first two years of investment and have a solid growth plan.
The investment range of Armando Pauker can range up to $500,000. LinkedIn
Terry Kiwala
- Reach Out:Terry Kiwala, CFA | LinkedIn
- Focused Sectors: Digital Marketing, E-Commerce, Computer, Robotics, SaaS, Banking, Financial Services, FinTech, Biotechnology, Health Care, Health Diagnostics, Medical Devices, Consumer, Consumer Electronics, Electronics, Cloud Computing, Restaurants, Cyber Security
- Present In: Illinois
- Notable Investments: Movero Technology, CSA Medical, Wimba, HandymanOnline.com, REALTECH AG, Scale Computing, bTrade.com, ViralGains, NETdelivery, Extraprise, SynergySuite, Netchex Online
Terry Kiwala is an active investor in the SaaS sector and usually invests in early-stage businesses. He started funding startups in 1992 and has decades of experience in making his portfolio companies grow big.
When making investments, Terry prefers startups that are solving modern SaaS problems like CAC and product integration, and steep learning curves. He also likes to invest in startups that are led by experienced or famous founders and have a strong growth plan to prove their performance.
The investment range of Terry Kiwala lies between $100,000 to $1M.
Justin Smollar
- Reach Out:LinkedIn
- Focused Sectors: E-Commerce, Internet, Marketplace, Procurement, Real Estate, Finance, Financial Services, FinTech, Mobile Payments, Payments, Transaction Processing, Advertising, Analytics, SaaS, Brand Marketing, Creative Agency, Music, Data Visualization, Enterprise Software, Fraud Detection, Southeast Asian Founded, Southeast Asian Led, Apps, Hospitality
- Present In: Illinois
- Notable Investments: Purchasing Platform, Semantify, ForeverCar, HighGround, Shiftgig, Rippleshot, OfficeLuv, Singular, CITYBASE, Music Audience Exchange, Pangea Money Transfer, NexLP
Justin Smollar is the Chief Financial Officer and Principal at Method Capital. Being one of the biggest and most active investors in Illinois, Justin Smoller has a strong focus on cities like Chicago and Aurora, where technology company formation is rapidly growing.
Smollar usually invests in companies with monthly recurring revenue, referenceable customers, and scalable technology platforms. He prefers startups that have completed initial software development, demonstrate recurring revenue, and have scalable business models.
The investment range of Justin Smollar can range up to $2M.
Christopher Graber
- Reach Out:Christopher Graber | LinkedIn
- Focused Sectors: Medical Devices, E-Commerce, Financial Services, Computer Vision, Software, Clinical Trials, Dental, Computer, SaaS, Human Resources, Recruiting, Biotechnology, Pharmaceutical
- Present In: Illinois
- Notable Investments: Eastern Dental, Anovia Payments, Jazz Pharmaceuticals
Christopher Graber is a Partner at Waud Capital Partners and a famous angel investor in Illinois. Chris joined WCP in 2005 as an Associate, having previously worked in investment banking at Robert W. Baird & Co. in Chicago.
With extensive experience in the finance sector, Chris prefers funding startups that are at the early stages and are being led by experienced founders. He has a strong interest in companies that are developing unique software and are willing to help their people in improving their regular lives.
The investment range of Christopher Graber can range up to $300,000.
Brain Grady
- Reach Out:LinkedIn
- Focused Sectors: Marketing, E-Commerce, SaaS,
- Present In: Illinois
- Notable Investments: Shotgun
Brian Grady, the CEO of Gorilla Group, is an individual investor with a keen interest in startups.
Like most other investments in the state, Grady focuses on funding startups that can have a high ratio of profitability and have experienced founders to scale the business internationally. Brain Grady, being an experienced investor, usually makes his investments through different startup events like accelerators, incubators and fundraising programs.
The investment range of Brain Grady can range up to $500,000.
Iman Jalai
- Focused Sectors: SaaS, Consumer Internet, Enterprise Software, Mobile, E-Commerce, and Digital Businesses.
- Present In: Chicago, Aurora
- Notable Investments: UX Pin, and On The Go Platforms
Iman Jalali is an experienced angel investor, startup advisor, and Chief of Staff at ContextMedia. Having funded startups for several years now, Iman Jalali prefers to invest in businesses that are introducing new ideas in the SaaS sector and have strong chances of future growth.
Moreover, Iman Jalali is quite strict with his investment requirements and only funds startups that have very low competition and are coming up with innovative solutions.
The investment range of Iman Jalali can range up to 300,000, depending upon the startup’s target market and estimated ROI.
Chris Hoehn-Saric
- Focused Sectors: SaaS, Consumer Internet, Enterprise Software, E-Commerce, and Digital Businesses.
- Present In: Illinois
- Notable Investments: UXPin
As the co-founder of Sterling Partners, Chris Hoehn-Saric is also an experienced investor who funds SaaS startups in the country. A little about his background, Chris has served as the CEO of portfolio company Educate, Inc. and as Chairman and Co-CEO of Sylvan Learning Systems, Inc. He is also a member of the Boards of Trustees for Johns Hopkins University and Sheridan Libraries.
Chris Hoehn-Saric usually invests in growth-stage startups and looks for businesses that are ready to scale internationally. He has a strong preference for only investing in those startups that can generate 3x ROI within the first year.
The average check size of Chris Hoehn-Saric is around $500,000.
Wrap-Up:
So, there we have the list of some of the most active and top-ranked SaaS investors in Illinois. However, even with a perfect list, you might feel a little confused about how to pitch to these investors in the first place.
Well, here are 3 golden tips to help you secure an investment from angel investors.
- Spend time researching your potential investors. This shows your commitment and increases your chances of alignment.
- Create a compelling story around your SaaS product, focusing on the problem it solves, market potential, and low competition.
- Be confident with your presentation and convince the investors by showing stats and figures of your startup’s profitability.
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Earlier the article was published here.
