Q3 2016 Investments for Indiana Technology Companies
The third quarter of 2016 saw a spike in the value of Indiana technology funding deals with a national acquisition and high-value raises from capital sources across the U.S. We compiled a list of funding deals announcements to highlight the Indiana technology companies and those that have invested in or acquired them.
Mobile app software company Bluebridge announced a $3 million Series A funding round alongside the launch of a new company called Emplify, which will focus on employee engagement through mobile devices. The funding round was led by Allos Ventures and Cultivation Capital, with participation from Bob Davoli (a five-time Forbes’ Midas list top ranking venture capitalist) and with returning investors Bill Godfrey (first-ever Investor of the Year Mira Award winner), Tim Kopp, and Mark Hill.
File-sharing firm SmartFile announced an equity raise of $1.1 million led by Indiana firms VisionTech Angels and Elevate Ventures. Bootstrapped since 2009, this raise marks the first round of venture cash for SmartFile.
Octiv announced a $4.75 million fundraising round that includes participation from GE Ventures, High Alpha Capital, Greycroft Partners and Allos Ventures. The SaaS-based sales productivity platform recently rebranded from Tinderbox to Octiv and announced plans to hire 224 new employees by 2021.
Legal transaction software company Doxly announced a $2.25 million Series Seed funding round from NextLaw Ventures, High Alpha Capital and Hyde Park Venture Partners. The company also added Dentons, the world’s largest law firm, as a customer.
The biggest news of the quarter came from Genesys Telecommunication Laboratories announcing their acquisition of Indianapolis-based Interactive Intelligence for $1.4 billion. This is the second largest technology company sale in Indiana’s history, following that of ExactTarget’s $2.3 billion acquisition by Salesforce in 2013. Interactive Intelligence is one of the largest technology employers in Indiana with 1,000 employees in Indiana. The acquisition will be finalized by the end of 2016.