Analytic.li LLC, an Indianapolis-based workforce analytics firm, on Tuesday announced that it has been acquired by Novi Group LLC, an investment group led by Hoosier natives Fred Luddy and Greg Bell.
Terms of the deal were not disclosed.
With the sale to Novi Group, Analytic.li plans to accelerate its offerings and grow the business to reach more customers, company officials said.
Luddy and Bell said they plan to retain Analytic.li’s Indianapolis headquarters and make investments in the product and team to expedite growth. The firm is based at 8335 Allison Pointe Trail
Analytic.li co-founder Jana Fuelberth is expected to remain with the company and add CEO to her title as president.
Analytic.li has 20 employees, and while company officials said they don’t have exact growth projections, they anticipate the staff size increasing because of the deal. It is hiring for positions in business development, product development and engineering.
A New Castle native, Luddy in 2004 founded ServiceNow—a Silicon Valley-based company that makes workflow-related software—serving as the company’s CEO until 2011 and as its chief product officer until 2016.
He now is chairman of the company, which employs 3,500 people and has a market value of more than $15 billion. Forbes in 2018 named ServiceNow the world’s most innovative company.
Last year, Luddy donated $60 million to launch an artificial intelligence initiative in the School of Informatics, Computing and Engineering at Indiana University, his alma matter.
Bell, an entrepreneur with more than 35 years of experience, is the founder of HealthX, one of the first cloud-based technology companies in health care. Bell, who has been friends with Luddy since their days in high school at New Castle, grew Indianapolis-based HealthX into one of the largest health care portal providers for U.S. health plans and payors.
“Since we started Analytic.li, our vision has been to help businesses make decisions that elevate productivity and performance, while preserving and honoring the employee experience,” Fuelberth said in a written statement. “When tech pioneers like Fred and Greg take an interest in what you’re doing, it validates we’ve been effective and are on the right path. Their insight and support—and their experience scaling tech organizations—will allow us to advance our mission and deliver more value to even more customers.”