Indy Software Company Acquired by Novi Group
(photo courtesy of analytic.li)
Indianapolis-based analytic.li, a workforce analytics company, has been acquired by Novi Group LLC in Indianapolis, an investment group led by Fred Luddy and Greg Bell. Novi Group says analytic.li will help accelerate the breadth of its offerings while scaling the business to reach more customers.
Novi Group says it will make key investments in the product and team to expedite growth.
“Since we started analytic.li, our vision has been to help businesses make decisions that elevate productivity and performance, while preserving and honoring the employee experience,” said Jana Fuelberth, the company’s co-founder and president. “When tech pioneers like Fred and Greg take an interest in what you’re doing, it validates we’ve been effective and are on the right path. Their insight and support – and their experience scaling tech organizations – will allow us to advance our mission and deliver more value to even more customers.”
Novi’s Luddy is the founder and chairman of software company ServiceNow (NYSE: NOW). In 2018, Forbes recognized ServiceNow as the world’s most innovative company. Bell is the founder of Indianapolis-based software company HealthX. Novi Group says Bell grew HealthX into the largest healthcare portal provider for U.S. health plans and payors.
“The most gratifying experience in business is to see how a product you created delights customers by solving their most challenging problems,” said Luddy. “analytic.li has found great success doing just that, yet we believe they’ve just scratched the surface. We’re excited by the progress they’ve made in a very short time, but even more excited by what’s ahead, and are eager to fast track their expansion.”
In 2019, IIB reported a $60 million gift from Luddy to establish an artificial intelligence center at Indiana University in Bloomington. The university says the gift was the second largest in school history.
Novi Group plans to retain analytic.li’s Indianapolis headquarters.