Software startup Lesson.ly LLC plans an expansion that will result in the hiring of 74 people by 2018, the Indianapolis-based company announced Tuesday.
The six-person company operates out of space in TinderBox Inc.’s office on Monument Circle, but is looking for new space to accomodate the expansion.
Lesson.ly is eyeing three possible locations, all downtown, and it will likely move within the next three months, CEO Max Yoder said.
The company expects to spend at least $600,000 as it expands, on top of a payroll that will be close to $6 million per year by the time Lesson.ly finishes its hiring plans. The $600,000 investment includes an office lease, furniture, computer hardware, software and telecom equipment over five years.
The new jobs will pay an average of $38.85 per hour, which translates to more than $80,000 per year for full-timers, Yoder said. Hiring will fill a mix of sales and engineering positions.
The company said it will receive $750,000 in tax credits over 10 years from the Indiana Economic Development Corp. if it meets its hiring goals.
Customers as large as Indiana University Health and Angie’s List Inc. use Lesson.ly to develop training programs for their employees and customers.
The tech firm began in 2012 as the brain child of business owners and partners at seed-stage investment firm Gravity Ventures—Kristian Andersen, Mike Fitzgerald and Eric Tobias. Yoder previously interned for Andersen and started his own Internet polling firm before the Gravity trio recruited him to run Lesson.ly.
“This growth trajectory may appear ambitious, but it’s hardly unprecedented, and we have every intention of living up to it," Yoder said. "To put it into perspective, TinderBox went from 10 people to nearly 50 in two years’ time. We are preparing ourselves for similar progress.”