During the third quarter of 2018,  there were eight publicly announced capital raises by Indiana tech companies with a combined total of over $23 million in funding along with a $100 million raise by local venture studio, High Alpha. There were also three acquisitions of Indiana tech companies by out-of-state companies, while four Indiana tech and tech-enabled companies were on the acquiring end of these transactions.

Below is a list of public investments and acquisitions involving Indiana technology companies that occurred in the third quarter of 2018.


July was a busy month for tech companies in Indiana. Cummins made the first news of the quarter with the announcement of its acquisition of Silicon valley-based Efficient Drivetrains, a developer of plug-in-hybrid and full electric powertrain systems for commercial vehicles.

PolicyStat’s parent company, iContracts, followed with their acquisition of Toronto-based PolicyMedical in early July.

Indianapolis’s PactSafe, a contract execution platform,  made the quarter’s first venture news by announcing its Series A raise led by Mercury Fund, a VC firm with offices in Houston and Ann Arbor. This was Mercury Fund’s first investment in the Indiana tech ecosystem.

July also included an historic $100 million raise by High Alpha to fund new enterprise software startups in Indianapolis and the Midwest. High Alpha’s current studio companies include Sigstr, Zylo, Lessonly, Doxly and Pattern89.

Kenzie Academy, with locations in both San Francisco and Indianapolis, announced a $4.2 million raise to fuel growth in existing locations and expand into other regions.

Perceivant, an education technology company in Indianapolis,  announced a $585,000  raise that included Elevate Ventures.

Carmel’s Telemon Corp announced their acquisition of Oklahoma-based CLS Group in July. Telamon specializes in solutions for telecommunication networks, industrial assembly, and business process outsourcing.

Go Electric of Anderson announced a $4 million Series A raise led by Wind Sail Ventures of Boston. The company develops customer side of the meter energy solutions that help facilities, communities and military bases be energy resilient and sustainable.

Codelicious, winner of TechPoint’s Tech Service of the Year Mira Award and graduate of Indianapolis’s first gBETA cohort, announced a nearly $1 million seed round in July with investments from Collina Ventures, GRE Capital and Elevate Ventures.

The month of July ended with the acquisitions of two Indianapolis area tech companies.  Zionsville-based Boosterville was acquired by Beyond of Princeton, New Jersey for an undisclosed amount. Boosterville is a credit card-linked marketing platform that delivers cause-driven buyers to offline merchants. DATTUS, Inc., a company that creates software for maintenance engineers to make better decisions and reduce machine downtime,  was acquired by Plex Systems of Troy, Michigan.


While August was an active month for acquisitions and funding in Indiana, the only publicly announced raise was from Zionsville’s Clear Software. While the financial details of their Series A raise were not announced, investors included Collina Ventures and Bill Oesterle, one of the co-founders of Angie’s List. Clear Software creates applications to simplify business software and make the jobs of its users easier and more productive.


During the week of TechPoint’s VC Speed Dating (formerly called Winners’ Circle) two veteran companies of the event announced major raises with Edison Partners of Princeton, New Jersey. Indianapolis-based Sigstr, announced a $4 million venture round to grow it’s existing email signature marketing product and new Sigstr Pulse offering. Sigstr helps marketers push content and campaigns to employee email signatures, driving brand consistency and real marketing results. Emplify, with headquarters in Fishers, announced a $7.5 million venture round led by Edison. The round also included Cultivation Capital of St. Louis, Allos Ventures of Indianapolis and Bill Godfrey, one of the founders of Aprimo. Emplify creates employee engagement solutions that blend mobile-first technology, behavioral psychology, and data science. Edison Partners met with both companies at the 2017 Winners’ Circle event.

OneCause (formerly BidPal) announced a $4 million venture round that it will use to fuel growth for their fundraising software platform along with their sales and marketing efforts. MK Capital of Chicago led the round with participation from WinTrust Ventures, also of Chicago, and Allos Ventures.

September closed with acquisitions involving two Indianapolis healthcare tech companies. ClariCare, a dental analytics software provider, announced their acquisition by True Nature Holding, Inc. of Atlanta for a reported $3 million. TRIMEDX, a leader in clinical asset management and clinical engineering services acquired a healthcare technologies division of Aramark, based in Philadelphia, for a reported $300 million.

How does this quarter stack up to 2017? Read the 2017 VC report here.

Each quarter we report public investments in Indiana technology companies. Interested in sharing your funding deals? Email roger@techpoint.org.