Levementum Scores Funding, Sells Off Product

Posted: Updated:
Levementum SVP Michael Burton Levementum SVP Michael Burton

Arizona-based Levementum, which has a growing presence in Indianapolis, says it has raised an additional $4 million in funding, led by Inoca Capital Partners. Chief Executive Officer Doug Guilbeau also says the company has sold its SugarCRM practice to focus on its Salesforce products and becoming "the top digital consultancy focused on consumer engagement."

Levementum says the funding from the private equity firm will help support rapid nationwide growth. Senior Vice President Michael Burton says the company is continuing to pivot its focus to digital marketing, e-commerce and servicing consumer requests. The company is not disclosing the SugarCRM buyer or financial details.

Levementum targets B2C clients in industries including health, life sciences, entertainment and retail.

Last year, Levementum announced plans to expand in Indiana and add up to 175 jobs by 2021.  It also plans to move to a new Indianapolis location this summer after outgrowing its current home at The Union 525 downtown.

The company is headquartered in Chandler, Arizona. In addition to Indianapolis, it has offices in California, Texas and Michigan.

  • Perspectives

    • Truck Driver Supply Impacting Cargo Hauling Demand

      The U.S. unemployment rate has moved down to 3.9 percent, which is its lowest level since December 2000, according to the U.S. Bureau of Labor Statistics. Great news! Maybe not. There are business sectors that need employees due to constraints in the labor market - namely truck drivers. The level of employment in the truck transportation industry is essentially unchanged since mid-2015, according to the bureau. And the impact is being felt.

    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

    • Triple XXX Root Beer Appears in Prime Time

      A soft drink that carries the name of an iconic West Lafayette restaurant has been featured on a national television series. In a message on the Triple XXX Family Restaurant's Instagram page, co-owner Carrie Ehresman said the recent appearance of Triple XXX Root Beer on NBC's "Chicago Fire" was not product placement. She said the show's producers reached out through the restaurant's website and "we weren't sure we'd make the final cut until it aired!"

    • Mark Sandy became Ball State's director of intercollegiate athletics in 2015.

      Ball State to Introduce Next AD

      Ball State University Monday will name a new director of intercollegiate athletics. Mark Sandy, who has served in the position for more than three years, announced his retirement in January. During Sandy's tenure, eight teams won Mid-American Conference league championships or division titles. Three new facilities projects have been completed during his time in Muncie...

    • Winnings Announced For 2017 Indy 500

      Takuma Sato has been awarded $2.46 million for taking the checkered flag Sunday in the 101st running of the Indianapolis 500. Sato, the first-ever Japanese winner of the race, held off three-time winner Helio Castroneves in the final laps to close out the victory in the sixth-closest finish in Indy 500 history. The total purse was nearly $13.2 million.

    • On-Air

      Find out when and where you can watch and listen to our reports.

    • Simon recently opened outlets in South Korea and France.

      Simon, Marriott Partnership Grows

      Indianapolis-based Simon Property Group Inc. (NYSE: SPG) is expanding its partnership with Maryland-based Marriott International Inc. (Nasdaq: MAR). The companies have announced plans to open at least five new hotels at Simon shopping centers throughout the country over the next several years.