Indianapolis-based tech company Kerauno has secured more than $25 million in Series A funding. The global communications workflow provider says the the funding round is the largest single series A capital raise in Indiana history.
The announcement comes more than a month after Kerauno detailed plans to invest more than $5 million to establish its official headquarters in Indianapolis and add up to 112 jobs by 2022. The massive funding round included several investors such as The Joan Hanley (Steinbrenner) Trust and Indianapolis-based Andretti Autosport Chief Executive Officer Michael Andretti.
In an interview with Inside INdiana Business Reporter Mary-Rachel Redman, Kerauno CEO Josh Ross said company will focus the funding on human capital.
"One of our challenges was human capital and that was just trying to find the best human capital around the globe to be able to expand our brand," said Ross. "So this capital is going to give us an opportunity to do that; to be able to hire software engineers and hire folks that are in project management and expand that brand globally."
Ross says the record figure is a huge testament to the future of the company.
"The validation of that type of capital, that large vast amount of capital infused in the company shows that folks understand the intrinsic value of where we’re going and how we’re helping companies move forward with workflow and communications."
Keruano launched in late 2017 as a spin-off of Indianapolis-based Axia Technology Partners. The company’s cloud-based software platform aims to help businesses optimize their business processes, enhance customer and employee engagements, and drive revenue.