Sigstr Locks Down $4M in Funding
INDIANAPOLIS - The head of an Indianapolis marketing tech company that has secured another multi-million dollar round of funding says there are multiple benefits to its location in the Hoosier State. Email signature and relationship marketing platform Sigstr has landed $4 million from investors led by New Jersey-based Edison Partners. Chief Executive Officer Bryan Wade attributes Sigstr's rapid upward trajectory to factors including access to capital, a talent base that is well-trained yet costs less than hiring on the east and west coasts and a supportive ecosystem for startups.
Wade discussed what he calls "the Indy Advantage" during an interview with Inside INdiana Business. "Indianapolis is chock-full of talent. We've got people who we can hire off the street who have been there and done that in software technology because of all the big companies that have been built before us and then acquired," he said. "We (also) do a lot of training and enablement in hiring young people right out of college."
Sigstr, which was the first spin-off company from High Alpha's venture studio over two years ago, plans to use the investment to accelerate new product growth and adoption in the market. It recently launched Sigstr Pulse, which provides mapping and quantifiable data of employees to marketers through artificial intelligence. Sigstr's goal is to reach one-million users by 2020. The company currently employs around 60 and Wade says it could add 10 by the end of the year. More than two years ago, Sigstr detailed plans to add 111 jobs by 2020 as part of a $1.4 million expansion of its downtown headquarters.
Lead investor Edison Partners Monday announced a $7.5 million round of funding for another young Indiana tech company, Fishers-based Emplify. Edison Partners General Partner Ryan Ziegler says "for Sigstr, an exceptional management team, clear market fit for ESM and Pulse, and significant account-based marketing growth trends are all colliding to speed customer adoption. Bryan and team bring a dynamic culture, competitive focus and intensity to the business, which is immeasurable."
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