Two Indiana-based scale-up tech companies closed successful funding rounds at the end of this month. Torchlite, a gig economy startup for freelance marketers, announced on June 15 their raise of $2 million which brings total funding raised to $4 million. Fuzic, a marketing tech startup, announced today their close of a $3 million raise which brings total funding raised to $3.52 million.
In addition to the funding announcements, Torchlite and Fuzic have a common connection through Scott McCorkle. The Indianapolis tech entrepreneur has taken a role as executive chairman with both Torchlite and Fuzic’s board of directors. This is in addition to McCorkle’s position as Executive in Residence at High Alpha.
Torchlite has already marked several milestones off their list since launching in June 2015. Their annual recurring revenue is over $2 million and they plan to add 140 new high-wage jobs over the next three years. Founder and CEO Susan Marshall purposefully founded her company in the Midwest after spending years in Silicon Valley in leadership positions at Apple and Salesforce.
Fuzic is rapidly growing in Fishers, Indiana with their custom audio messages and licensed music for businesses. The Indianapolis Business Journal profiled CEO Brent Oakley in April 2017 and explained his journey from car washes to tech startups. Now, the company has funding from High Alpha, Allos Ventures and Hyde Park Venture Partners.
Interested in more funding stories? Our second quarter wrap-up of Indiana tech investments will be published next week. If you’d like to share your funding news with TechPoint, email firstname.lastname@example.org.