Indy consulting startup Stitch lands $3.3M in state incentives
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Indianapolis-based Stitch Consulting Services Inc., which launched last year out of Indianapolis venture studio High Alpha, has secured $3.3 million in state incentives based on the company’s growth plans.
The company currently has 32 employees, about half of whom are Indianapolis-based and half of whom work remotely. Stitch’s co-founder and CEO, Michael Burton, said he expects that number to top 50 by the end of this year, growing to more than 200 by the end of 2027.
Last month, Stitch secured an offer from the Indiana Economic Development Corp. of up to $3.25 million in state tax credits if the company adds 100 Indiana employees by the end of 2027. The incentives are performance-based—the company cannot receive them until it hires Hoosiers. This means that by the end of 2027, at least 100 of the company’s expected new hires will have to be Indiana residents if Stitch is to earn the full amount of the tax credits.
Stitch has also secured an offer of up to $100,000 in training grants. It can secure that full amount if it employs at least 66 Hoosiers and trains at least 29 employees by the end of 2025.
Stitch is a marketing technology consultancy founded by Burton, Ryan McCambridge and Bobby Tichy. (McCambridge has since left Stitch and is no longer involved with the company.)
All three previously served in key roles at Indianapolis-based software consultancy Lev, which was founded in 2006 as Levementum LLC. Lev had grown to more than 200 employees by the time it was acquired by New Jersey-based Cognizant in 2020.
Burton said Stitch pursued IEDC incentives because he had seen how helpful the support had been to Lev. “I knew the value of the [incentives] in allowing us to help ramp up new team members.”
Stitch launched as a consultancy for customers of Twilio, whose platform allows users to develop applications to communicate with their customers. In May, Stitch announced it had formed a partnership with New York City-based Braze, whose platform allows brands to engage with their customers online in real time.
Stitch’s focus is now helping markets use the Braze platform.
Burton said this strategy will help Stitch accelerate its growth because the company can develop deep expertise in its chosen niche. “The best consultancies that I’ve seen are the ones that have focus,” he said.
Stitch launched in stealth mode in July 2022, and its public launch was in late September. Burton said the company booked its first sales in November and since then has earned more than $1 million in revenue.