NEW: Score Another For Indy Tech Sector
Sigstr says the capital will allow it to advance its email signature marketing platform and accelerate hiring.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe central Indiana technology sector is continuing its hot streak. Sigstr Inc. plans to add up to 111 jobs in downtown Indianapolis over the next four years. The email signature marketing platform says a $1.4 million investment will double its downtown footprint. Sigstr was the first company to launch from the Scott Dorsey-led High Alpha venture studio, which also includes another tech startup in expansion mode, Clear Scholar.
In December, Sigstr detailed a $1.5 million investment round. Sigstr was featured last October during an INnovators with Dr. K segment. At the time, the company reported 70 clients, a list that has ballooned to nearly 190 since. Sigstr says its revenue doubled during the first quarter of this year and it has outgrown its current office space on Monument Circle.
Former iGoDigital and ExactTarget executive Dan Hanrahan is the company’s founder and chief executive officer. Sigstr has already signed on with a number of big-name clients, including Indianapolis-based Angie’s List and Delta Faucet in Carmel, as well as SalesLoft in Georgia, New York-based ReturnPath and Swiss global health care company Roche. Hanrahan says "the decision to scale our business in Indianapolis is a huge part of our competitive advantage. I personally came up through iGoDigital and ExactTarget with amazing mentors and connections to some of the brightest, most accomplished people in marketing tech. As a growing tech company we had many location options; however, scaling quickly, you need access to capital, customers and talent, which we were able to successfully find right here in in Indy."
The Indiana Economic Development Corp., which has offered company up to $1 million in conditional, job-creation-based incentives, says the new positions are expected to pay wages that are 25 percent higher than the average jobs in the state. The IEDC says the average annual salary for tech jobs in Indiana could reach $75,000.
The state says Sigstr joins companies like Salesforce, Determine, Emarsys, Blue Horseshoe Solutions, Lumavate, PolicyStat, iLAB, Appirio, GyanSys, Rook Security and Eleven Fifty Consulting, all in central Indiana, which have announced thousands of job commitments for the coming years.