A year-old Indianapolis logistics-software firm that already has 30-full-time employees plans to hire another 90 by 2020, including 60 by the end of 2019.
FreightRover software helps clients optimize freight flow and streamline carrier payments for shippers, carriers and drivers. The firm—which won Best New Tech Startup honors at TechPoint’s Mira Awards in April—said it will invest more than $1 million to expand its headquarters in the Barrister Building at 155 E. Market St. downtown.
The company started out by leasing 6,000 square feet on the second floor. It now is expanding into an additional 8,500 square feet on the third floor.
“When it comes to transportation and logistics, Indiana truly lives up to its moniker as the crossroads of America," Eric Meek, CEO and co-founder of FreightRover, said in a statement. "With the state also representing a major hub for new technology developments and supportive of business growth, it made perfect sense as the home for FreightRover. Our company operates at the intersection of transportation and technology, so Indiana is the ideal proving ground for our innovations."
FreightRover began as part of Celadon Group Inc., an Indianapolis-based trucking company where Meek formerly was president. He left Celadon last spring and acquired the technology unit. It has raised more than $5 million in venture capital to fuel growth and currently is hiring software developers, finance associates and sales and marketing managers.
Last year, the Indiana Economic Development Corp. offered FreightRover up to $1.55 million in tax credits and up to $75,000 in training grants based on its job-creation plans. The incentives are performance-based, meaning until the company can’t claim them until workers are hired.
FreighRover is among a handful of central Indiana companies launching freight-related apps in hopes of making money by helping to streamline a huge and fragmented freight-shipping industry.