Indiana Staple Provides Lift to Next Gen Company
FISHERS - The chief executive officer of Fishers-based CloudOne Inc. says the manufacturing sector, a traditional cornerstone of the state's economy, is helping his less-traditional, high-tech business grow. John McDonald, whose company just locked in a $9 million round of funding, says Indiana's manufacturing might makes it the "ideal place" for innovators in the Internet of Things space. McDonald says the infusion could help the company add 20-30 more jobs in the short-term, with a potential for more down the road. He tells Inside INdiana Business the outside perception of the state's technology sector is improving and investment opportunities are coming along with it.
McDonald says "pathways to capital" that didn't previously exist have opened up for Indiana companies as the sector's reputation becomes more well-known. Since its founding in 2010, CloudOne has landed around $22 million in equity investments.
The company, which employs around four dozen in Indiana and five other global and domestic offices, has reported year-over-year revenue increases of more than 100 percent in each of the last four years.
McDonald tells Inside INdiana Business "Indiana is well-known for manufacturing and that makes it an ideal place for companies like ours who help to enhance the creation, production and leveraging of manufactured products in this new internet economy."
CloudOne has offices in Chicago, Texas, the United Kingdom, France and Germany and serves clients throughout the world.