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

    • Culp worries that newly-elected officials will "absorb the message that TIF is bad."

      Top Five Out-of-Site Trends in Site Selection

      Whenever anyone asks me about my job, their first question is usually "what are the big trends in your industry?" Just kidding. Their first question is "you do what now?" But once we get past that they want to know what factors are driving our clients' decisions.

    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

    • Purdue Fort Wayne Unveils New Sports Branding

      Purdue University Fort Wayne has unveiled a new look for its sports teams. The university says it will continue to use the Mastodon as its mascot, however a new logo and color scheme will be used to better match with the Purdue brand.

    • Delta Begins Nonstop to Seattle

      Delta Air Lines now offers a nonstop flight from Indianapolis International to Seattle-Tacoma International Airport. The first flight leaving Monday night will be a milestone for the Indy airport, since it will now connect to all Delta hubs in the U.S. 

    • Culp worries that newly-elected officials will "absorb the message that TIF is bad."

      Top Five Out-of-Site Trends in Site Selection

      Whenever anyone asks me about my job, their first question is usually "what are the big trends in your industry?" Just kidding. Their first question is "you do what now?" But once we get past that they want to know what factors are driving our clients' decisions.

    • Ohio River Crossing Updates Prove More Costly

      The I-69 Ohio River Crossing Project Team has unveiled updated preliminary alternatives for I-69 bridge and interstate connections that come with higher price tags. The group says the changes on the Evansville-to-Henderson, Kentucky project were based in part on public input on factors ranging from routes to tolling.

    • Ball Brothers Foundation Awards Millions in Grants

      Over 30 organizations have been awarded more than $3.2 million in the first round of 2018 grants for the Ball Brothers Foundation. The foundation has awarded no less than $6.3 million per year to various organizations since 2013. T