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Blue Pillar moves HQ, leads Indiana tech fundraising

March 21, 2015

focus-briefs-table.gifBlue Pillar Inc., which sells energy management software, has raised almost $14 million this year, putting it atop Indiana tech companies in 2014.

While the company is no longer based here—the AP reported March 17 a headquarters move to Maryland—it will likely be included in tallies compiled by organizations including the National Venture Capital Association. Drone producer Precision Hawk USA Inc., for instance, moved its headquarters from Noblesville to North Carolina last year, but its $10 million equity raise was credited to Indiana.

Behind Blue Pillar is Carmel-based SteadyServ Technologies LLC, with $5.5 million, and South Bend-based Vennli Inc., with $2 million. Both are software-as-a-service companies.

The showing so far amounts to $26.6 million for tech-related companies alone as of March 17, according to an IBJ review of U.S. Securities and Exchange Commission filings.

In 2014, venture capitalists poured $47.3 million into emerging Indiana companies and $23.4 million in 2013, according to the National Venture Capital Association.

Precision Hawk had the largest venture-capital raise in 2014.•

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