IBJNews

Software firm TinderBox lands $3M VC investment

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis software developer TinderBox Inc. plans to fuel product development and build up its sales and marketing teams after receiving $3 million in venture capital.

Allos Ventures, which has an office in Carmel, led the investment round, which also included funding from Hyde Park Venture Partners in Chicago and other, previous investors.

Entrepreneurs and investors Dustin Sapp, Kristian Andersen and Mike Fitzgerald started TinderBox in 2010. The company’s software manages sales proposals.

“What we found is that our product, frankly, is already being pulled into other areas of our clients’ business,” said Sapp, the company’s president.

The recent cash infusion will let TinderBox build on its software so clients can more easily use it for pitches, contracts and other stages of the sales process in addition to proposals.

The company, which has close to 50 people based at its home office on Monument Circle, also needs more marketing, sales and executive-level staff to keep up with growing business prospects.

“We’ll continue to invest at all layers of the team,” Sapp said.

In just over four years, TinderBox has staked a claim as a promising up-and-comer in Indianapolis’ technology sector.

The firm doesn’t release its financial information. It lists ExactTarget Inc. and Angie’s List Inc. among its largest clients.

The company received a total of $2.1 million in two previous rounds of venture capital.

It also reached an an economic development agreement with the state a year ago to receive $1.4 million in tax credits, plus $55,000 in training grants, as long as it hires more than 95 people by 2016.

Hiring is on track to push beyond that number, Sapp said.

“TinderBox’s continued growth is a testament to the company’s leadership and technology, as well as the opportunities in the space,” Don Aquilano, managing director of Allos Ventures, said in a prepared statement.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

  2. I appreciated the article. I guess I have become so accustomed to making my "pit stops" at places where I can ALSO get gasoline and something hot to eat, that I hardly even notice public rest stops anymore. That said, I do concur with the rationale that our rest stops (if we are to have them at all) can and should be both fiscally-responsible AND designed to make a positive impression about our state.

  3. I don't know about the rest of you but I only stop at these places for one reason, and it's not to picnic. I move trucks for dealers and have been to rest areas in most all 48 lower states. Some of ours need upgrading no doubt. Many states rest areas are much worse than ours. In the rest area on I-70 just past Richmond truckers have to hike about a quarter of a mile. When I stop I;m generally in a bit of a hurry. Convenience,not beauty, is a primary concern.

  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

  5. I have obtained my 6 gallon badge for my donation of A Positive blood. I'm sorry to hear that my donation was nothing but a profit center for the Indiana Blood Center.

ADVERTISEMENT