It’s not uncommon to read a national or local business publication and see another startup or scale-up tech company announce a recent fundraise. But why is venture capital important for tech companies to grow and break into the market?

TechPoint President and CEO Mike Langellier knows a few things about tech funding. In January 2011 he launched MyJibe, a software application for personal finance, and the company was acquired before they celebrated the first anniversary. That experience — along with leading TechPoint for the past four years — provided him a deep understanding of what tech companies need in order to develop product, grow their teams and dominate the marketplace.

They need angel investors, seed funding and venture capital.

Langellier was interviewed by Mary-Rachel Redman of Inside INdiana Business last week to review trends in 2016 venture capital investment for Indiana tech companies. Watch the full two minute video titled “Tech Insider: Venture Capital Investment Key in 2017.”

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“Venture capital investment is important because the technology landscape is changing so rapidly that in order to emerge faster than the competition and to emerge with the opportunity you have to accelerate your growth faster than what normal business reinvestment would allow,” said Mike Langellier.

“We need market leading companies that are hiring large quantities of people and solving significant problems that are located here, and to do that, they have to grow at a pace that outgrows competition on an international scale. It takes money to do that.”

What kind of deals were made in 2016 and for how much? View our 2016 funding roundup to see standout Indiana tech company fundraises and acquisitions.