May 24, 2017
Indianapolis has landed another win in what has been a busy week for the city’s burgeoning tech industry. Software company myCOI has announced plans to expand its downtown Indianapolis headquarters and create up to 185 jobs by 2021. The company, whose cloud-based platform tracks and manages certificates of insurance, won last year’s Venture Club of Indiana Innovation Showcase. Its clients include Caterpillar Inc. (NYSE: CAT), Cushman and Wakefield and the Indianapolis Motor Speedway.
In an interview with Inside INdiana Business, Chief Executive Officer Kristen Nunnery said a new downtown location gives the company access to a “large, growing tech community” and talent from throughout the city. She adds central Indiana also offers “access to venture capital and great support and resources from organizations like the IEDC and Elevate Ventures.”
myCOI was founded in 2009, with the aim of providing a platform to protect clients from underinsured claims, litigation and failed audits. The company currently has 36 full-time employees in Indiana. It has begun hiring for sales, software development and insurance service positions as part of its planned $765,000 investment. The Indiana Economic Development Corp. has offered myCOI nearly $1.8 million in conditional tax credits and training grants based on the job creation plans.
Wednesday’s news is the latest in a string of big tech announcements in Indianapolis over the last week. Yesterday, India-based technology giant Infosys announced Indianapolis would be the location for its first U.S. tech and innovation hub. The company had previously detailed plans to invest more than $8.7 million into a central Indiana expansion and hire up to 2,000 workers by 2022. Over the weekend, Salesforce (NYSE: CRM) officially opened its regional headquarters in Indiana’s tallest building, now known as Salesforce Tower, in downtown Indianapolis. The company announced it would add 500 local apprentices by 2020.