Torchlite Continues to Catch Fire
INDIANAPOLIS - Indianapolis-based Torchlite Technologies Inc. is planning to add up to 140 jobs over the next three years. The digital marketing company, which launched last year, says it will triple its office space when it moves to a different floor of its current headquarters in city's Mass Ave District. The Indiana Economic Development Corp. says the new positions are expected to pay more than 2.5 times the average wage in the state.
The move is expected to be complete in the coming months. Torchlite says it will invest more than $500,000 into the new space, which will include collaborative areas and additional hardware. Its staff currently numbers 16, with clients located in Indiana and outside the state, including Delaware, Florida and Georgia.
Co-Founder and Chief Executive Officer Susan Marshall says "Torchlite is in a high-growth mode as we're getting ready to finalize another round of funding. The tech community in Indianapolis has been unbelievably supportive of our venture and has played an integral role in our success as a company." To date, the company says it has doubled its revenue each month after its first 40 days. Marshall previously serves as an executive with ExactTarget and Salesforce and has also worked for Apple. The company provides online marketing solutions through a customized digital platform.
The IEDC has offered Torchlite up to $2.8 million in conditional incentives based its job creation plans. Develop Indy, the business unit of the Indy Chamber, is supporting the expansion. The company is also seeking backing from the Indiana Seed Fund, which is managed by Elevate Ventures in partnership with the IEDC.
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