MetaCX Inc., a software-as-a-service firm founded last year under the wing of Indianapolis-based venture studio High Alpha, announced Tuesday that it plans to spend $1.4 million to establish a downtown headquarters where it plans to hire 75 people by the end of 2023.
Company officials say they plan to lease, equip and renovate space on the 10th floor of Salesforce Tower at 111 Monument Circle. Gov. Eric Holcomb and Mayor Joe Hogsett were scheduled to be on hand at the new space Tuesday morning to publicly announce the company’s growth plans.
The firm, which currently has 24 employees, is led by tech entrepreneur Scott McCorkle, the former president of ExactTarget and CEO of Salesforce Marketing Cloud. It was founded by McCorkle and fellow ExactTarget and Salesforce alums Dave Duke and Jake Miller.
The Indiana Economic Development Corp. offered MetaCX up to $2.55 million in conditional tax credits based on the job-creation plans. The incentives hinge on the company’s ability to meet hiring goals.
MetaCX has developed a software-as-a-service, or SaaS, product that is expected to bring suppliers and buyers of enterprise software together for better collaboration and outcome management. The company began beta testing the product in January and plans to fully launch it this summer.
The company landed $14 million late last year in a funding round led by Upfront Ventures, an early-stage venture capital firm based in Los Angeles. Upfront has invested more than $1 billion since 1996 in early-stage tech companies including Ring, Maker Studios, TrueCar, Overture and Bird.
The IEDC said the company is using the state’s Venture Capital Investment tax credit program to support its initial scale-up. The program helps entrepreneurs and start-ups attract capital more quickly by giving investors an additional incentive to invest in growing firms.
MetaCx will be the 11th company launched by High Alpha since its founding in 2015.
High Alpha—founded by tech entrepreneurs and investors Scott Dorsey, Kristian Andersen, Mike Fitzgerald and Eric Tobias—creates and funds startups through mentoring and venture capital. Its studio companies include Sigstr, Zylo, Lessonly, Doxly and Pattern89.