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Who Funds Software As A Service Startups in Illinois?

Real, verified funding sources for software as a service founders in Illinois: VC funds, accelerators, angel networks, and active grant programs — sourced from SEC filings and Grants.gov, not estimates.

No funds headquartered in Illinois matched "Software As A Service" by name — the funds below are shown nationwide instead.

ℹSoftware As A Service Funding Snapshot — Illinois (as of August 2026)

1
8 VC funds (nationwide)with "Software As A Service" in their name — none headquartered in Illinois in our data
2
7 acceleratorsopen to software as a service founders in Illinois (including globally-available programs)
3
6 angel networksbased in Illinois
4
55 open grantsin the Technology category, refreshed nightly from Grants.gov

Software As A Service VC Funds (Nationwide)

Ameba China SaaS Fund, L.P.

📍 Grand Cayman, E9

General partners: Tong N/A HUI, Jieyong N/A BAI, Zhuo N/A CHEN & 1 more

$265M

Effective fund size

Pier 88 Ventures Enterprise Software Fund, L.P.

📍 San Francisco, CA

General partners: Suki Singh, David Walrod, Mitch McCullough & 1 more

$100M

Effective fund size

SaaStr Fund II, L.P.

📍 San Francisco, CA📅 Filed March 2020

General partners: Jason M. Lemkin

$55M

Effective fund size

SaaS Ventures II, L.P.

📍 Bethesda, MD📅 Filed September 2020

General partners: Collin Gutman, Brian Gaister, Seth Shuldiner

$43.6M

Effective fund size

SaaS Ventures III, L.P.

📍 Coral Gables, FL📅 Filed January 2024

General partners: Brian Gaister

$28.6M

Effective fund size

ALL STAR SAAS FUND THREE LP

📍 Singapore, U0📅 Filed March 2022

General partners: Nao Ito, Hironori Maeda

$15.1M

Effective fund size

Black Diamond Financial Software Fund, L.P.

📍 Newark, DE

General partners: Kirk Carson

Fund size not reported

SaaSholic Clicksign II LLC

📍 Newark, DE

General partners: Kirk Carson

Fund size not reported

Software As A Service Accelerators Open to Illinois

7 programs

Techstars Chicago

Chicago, IL

Techstars Chicago

$120K

Deadline: Rolling / no fixed deadline

TechNexus Venture Collaborative

Chicago, IL

TechNexus Venture Collaborative

Varies

Deadline: Rolling / no fixed deadline

1871

Chicago, IL

1871

Varies

Deadline: Rolling / no fixed deadline

Polsky Center (UChicago)

Chicago, IL

Polsky Center (UChicago)

Varies

Deadline: Rolling / no fixed deadline

Northwestern Jumpstart Pre-Accelerator

Evanston, IL

Northwestern Jumpstart Pre-Accelerator

Varies

Deadline: Rolling / no fixed deadline

TechRise (P33 / Verizon / 1871)

Chicago, IL

TechRise (P33 / Verizon / 1871)

Varies

Deadline: Rolling / no fixed deadline

Microsoft for Startups

Global

Microsoft

$150K

Deadline: Rolling / no fixed deadline

Angel Investor Networks in Illinois

6 networks

Hyde Park Angels

👥 210 members💰 $25K - $500K check range

📍 Chicago, IL

TechnologyHealthcareConsumerFintechSaaS

Kellogg Angels

👥 100 members💰 $25K - $200K check range

📍 Evanston, IL

TechnologyHealthcareConsumerFintechSaaS

Keiretsu Forum Midwest

👥 80 members💰 $25K - $500K check range

📍 Chicago, IL

TechnologyHealthcareConsumerFintechSaaS

Chicago Ventures

👥 50 members💰 $100K - $2M check range

📍 Chicago, IL

TechnologySaaSConsumerMarketplace

Chicago Angels

👥 200 members💰 $15K - $200K check range

📍 Chicago, IL

TechnologyHealthcareFinancial ServicesConsumer

Illinois Ventures Angels

👥 50 members💰 $25K - $200K check range

📍 Champaign, IL

TechnologyDeep TechLife SciencesAgriculture Tech

Grants in the Technology Category

Software As A Service falls under the broader "Technology" category in federal grant data. These are federal programs open to eligible founders nationwide (including Illinois) — live from Grants.gov, refreshed nightly.

Science of Learning and Augmented Intelligence

U.S. National Science Foundation

From $550

Deadline: August 5, 2026Apply →

Centers of Research Excellence in Science and Technology - Research Infrastructure for Science and Engineering

U.S. National Science Foundation

$100K - $2M

Deadline: August 7, 2026Apply →

Research and Education Program for Historically Black Colleges and Universities (HBCU) and Tribal Colleges and Universities (TCU)

Dept of the Army -- Materiel Command

$100K - $2M

Deadline: August 11, 2026Apply →

Correctness for Scientific Computing Systems

U.S. National Science Foundation

Deadline: August 11, 2026Apply →

EARLY STAGE INNOVATIONS (ESI26)

NASA Headquarters

Up to $750K

Deadline: August 13, 2026Apply →

Global Digital Threat Lab

Bureau of Democracy Human Rights and Labor

$3.0M

Deadline: August 13, 2026Apply →

?Software As A Service Funding FAQs — Illinois

Are there software as a service VCs headquartered in Illinois?

We don't have any funds headquartered in Illinois whose name references software as a service. Below are software as a service-related funds from across the country instead — many invest outside their home state.

What accelerators in Illinois support software as a service startups?

7 accelerator programs open to Illinois-based software as a service founders are in our database, including programs based in Illinois and globally-available programs.

Are there angel investor networks in Illinois?

Yes — 6 angel investor networks based in Illinois are in our database, ranked by member count with software as a service-relevant groups surfaced first where our sector data supports it.

What grants are available for software as a service founders?

55 currently open federal grant programs are tagged under the Technology category, which is where software as a service falls in our grant classification. These are federal programs open to eligible founders nationwide (including Illinois), pulled live from Grants.gov and refreshed nightly.

Your Software As A Service Funding Action Plan

1

Research & Prepare

Review the 8 software as a service-matched funds above and their filing history
Check each fund's website for current investment criteria before reaching out
Prepare a pitch deck and financial projections tailored to your stage

2

Apply & Connect

Apply to the 7 accelerator programs listed above
Reach out to the 6 angel networks in Illinois
Check eligibility for the 6 open grant programs above

3

Follow Up

Track deadlines for any application-based programs above
Look for warm introductions through your existing network before cold outreach
Revisit this page periodically — fund and grant data refreshes nightly

Related Funding Resources

Other Industries in Illinois

Artificial Intelligence Funding in Illinois →Machine Learning Funding in Illinois →Deep Tech Funding in Illinois →Quantum Computing Funding in Illinois →SaaS Funding in Illinois →

Software As A Service in Other Locations

Software As A Service Funding in Alabama →Software As A Service Funding in Alaska →Software As A Service Funding in Arizona →Software As A Service Funding in Arkansas →Software As A Service Funding in California →

More Resources

All Software As A Service VC Funds →Software As A Service Accelerator Programs →Angel Networks Directory →Government Grant Database →Free Startup Resources →

Fund and angel network data sourced from SEC Form D filings (EDGAR). Grant data sourced from Grants.gov, refreshed nightly. Last generated August 5, 2026.