VIDEO: Greenlight Guru CEO talks about $120 million investment from JMI Equity
Just as summer was officially starting last month, Indianapolis-based Greenlight Guru announced that the fast-growing software scale-up had inked a deal with JMI Equity for the largest single investment ever in an Indiana tech company. Greenlight Guru is known for pioneering a new category of quality management software specifically designed to boost the success of medical devices.
The $120 million strategic growth investment will help the company accelerate product development efforts and support significant global growth, including potentially significant hiring to fill the new Greenlight Guru headquarters occupying the top two floors of the recently opened Union 601 building in downtown Indianapolis.
Senior Relationship Manager Roger Shuman and Senior Writer Joshua Hall of TechPoint conducted a video interview with Greenlight Guru CEO David DeRam following the announcement.
“I think it was a big week for Greenlight Guru. I think it was a big week for Indianapolis, and I think it was a big week for the medical device industry,” David said. “The plans that we have to really change the game in the medical device industry took a big leap forward last week when we were able to secure that raise and to put in motion the vision that we have for making the medical device industry something special.”
Reacting to news that JMI’s investment is the largest single raise by a tech company in state history, David said: “I think it’s inspiring and I think it reflects the amount of effort and work that’s been put in over the last eight years by our team. I think it puts us in a position to really do a lot of good and improve the quality of life for millions of people, so we’re certainly excited about the direction we have and the expanded vision we have for moving forward.”
For Greenlight Guru, however, it’s not all about the money. In fact, David was quick to say that the people are what matter most to him and that the company has done so well and is continuing to do so well because of its core values and mission to improve the quality of life.
“Winning for winning’s sake is great and I’m all for that,” David said. “But if you also have a mission behind it, then your company has something more; it has soul. And a company with soul is really hard to beat. So when people come to work at Greenlight Guru, they engage with the mission and they know that they are improving the quality of life.”
David also mentioned that Greenlight Guru plans to expand its existing initiatives to give back to the community. The Greenlight Guru Center will be home to the Progeny Foundation, which includes among its philanthropic efforts, programs that help minorities and at-risk youth with academics, life skills and athletic skills. The programs are designed to help youth get scholarships and make their way to college. “Having a facility like the planned Greenlight Guru Center would be a game-changer for hundreds of kids in the community and the core Greenlight Guru team has made a commitment to do that.”