Holcomb: Tech Companies Growing in 'Perfect Environment'

Posted: Updated:
Holcomb says the state's partnership with Lessonly shows Indiana is "leaning into this space in a big, big way." Holcomb says the state's partnership with Lessonly shows Indiana is "leaning into this space in a big, big way."
INDIANAPOLIS -

Governor Eric Holcomb says Indiana's pool of mentors in tech create an industry where "the hits just keep on coming." He says entrepreneurs who have turned "coffee table discussions" into million and billion-dollar companies paved the way for businesses like Indianapolis-based Lessonly, which today announced a $2 million expansion involving more than 100 new jobs. Chief Executive Officer Max Yoder says the growth, coming just weeks after announcing $8 million in funding, shows the training software company's ability to "attack a wide-open market."

Holcomb says Indiana has become a place promising "stability and certainty and predictability" for tech companies to grow. 

Lessonly, which launched in 2012 and landed a Series A investment round of $5 million in 2016, says initial plans call for building on current operations, but ultimately the company wants to expand its footprint in the city. Lessonly is currently located in School No. 9 in Indianapolis. Chief Executive Officer Max Yoder says, if that building can't handle the company's growth, he would like to move into another school, because it "fits the vibe of training and learning."

Last month's Series B round came from Boston-based OpenView Venture Partners, Rethink Education Management LLC in New York and central Indiana firms High Alpha Capital and Allos Ventures. At the time, the company said that funding could potentially double its current 80-person team over the next two years. Lessonly's clients include NBC News, Trunk Club and Thumbtack.

Holcomb says the state's partnership with Lessonly shows Indiana is "leaning into this space in a big, big way." The Indiana Economic Development Corp. offered Lessonly up to $1.3 million in conditional tax credits and training grants based on the company's expansion plans.

The IEDC says the Indianapolis area added nearly 6,200 new tech jobs in 2015 and 2016, with a 28 percent growth rate ranking fourth among U.S. metropolitan areas and more than double the national growth average of 11 percent.

  • Perspectives

    • How Technology And Innovation Can Transform The Classroom

      As we continue to embark through the Information Age, it's crucial for educators to implement new strategies that will meet the needs of both students and industries. Thanks to recent technology and innovative solutions, students are gaining more and more access to education outside the classroom, thereby expanding their learning and career opportunities in a variety of ways.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Italian Company Picks Daleville For Continental HQ

      An Italian filter manufacturer is detailing plans to locate its North American headquarters in Delaware County. Filtrec S.p.A. says it will invest $1.3 million into a Daleville operation that could create 25 jobs by 2022. Governor Eric Holcomb announced the plans along with Delaware County and company officials during an economic development mission to Italy. Initially, Filtrec says it will occupy 5,800 square-feet in Daleville and it intends to double or triple that presence...

    • (rendering courtesy High Alpha)

      First Office Tenant Locks in at Bottleworks District

      Indianapolis-based High Alpha will be the anchor office tenant of a high-profile development. The $300 million Bottleworks District, which broke ground three months ago, will also include hotel, residential, theater and retail spaces, as well as a food hall. Wisconsin-based Hendricks Commercial Properties LLC Vice President of Development Isaac Bamgbose says a tenant like the tech-focused venture studio and capital provider will help create more vibrancy and...

    • Salesforce, Pacers Partner on Digital Experience

      Indianapolis-based Pacers Sports & Entertainment Inc. and one of the largest technology industry employers in the state are joining forces to deliver what they say will be the "ultimate fan experience." The partnership with Salesforce.com Inc. (NYSE: CRM) will allow PS&E to connect with fans and concertgoers using email marketing, social media, digital advertising and customer service tools. The collaboration, PS&E and Salesforce say, will help...

    • Rush Named 'Government Leader of the Year'

      The Indiana Chamber of Commerce has named Indiana Supreme Court Chief Justice Loretta Rush its 2018 Government Leader of the Year. The chamber says Rush "brings a passionate commitment, and strong organizational skills and communication abilities to all aspects of her position."

    • Cathedral Kicks Off Capital Campaign

      In honor of its 100th anniversary, Cathedral High School in Indianapolis has publicly kicked off what it says is the largest capital and endowment campaign in the school's history. The Centennial Campaign seeks to raise $25 million to fund several projects, including a new Innovation Center.