Tech Firm Plans Scaleup, Double-Digit Job Growth in Indiana

INDIANAPOLIS (May 24, 2017) – myCOI, a provider of cloud-based software for tracking and managing certificates of insurance, announced plans to expand its headquarters in Indianapolis, creating up to 185 jobs by 2021.

“myCOI’s success showcases how an idea can transform into a thriving company that employs hundreds of hard-working Hoosiers,” said Lt. Governor Suzanne Crouch. “As we enter our third century, we will continue to equip our job creators with the best tools by maintaining our fiscal predictability, creating a low-cost, low-tax business environment and investing in Indiana’s innovators, like myCOI, who create good, high-paying jobs for Hoosiers.”

The homegrown Hoosier company will invest more than $765,000 to double its footprint, leasing and furnishing a new 6,841-square-foot headquarters at 445 N. Pennsylvania St. in Indianapolis. The company completed its relocation in March, which allows myCOI to accommodate its growing sales and insurance service teams. In addition, the company offers its employees collaborative workspaces and team huddle rooms.

myCOI, which currently has 36 full-time employees in Indiana, has already begun hiring sales, software development and insurance service professionals. Positions are expected to offer average salaries more than 20 percent higher than the state’s average wage. Interested applicants may apply online.

Founded in 2009, myCOI assists its clients with managing certificates of insurance to protect them from underinsured claims, litigation and the risk of failed audits. With clients in a variety of industries such as construction, property management, manufacturing, insurance agencies and many others, myCOI’s clients include JE Dunn, Hines, Cushman and Wakefield, Caterpillar, RE/MAX, Meyer Najem and Indianapolis Motor Speedway.

“Indiana continues to be an ideal location for our company and client success stories,” said Kristen Nunery, chief executive officer for myCOI. “Indianapolis is home to the fifth fastest growing technology community in the United States, offering a talented Hoosier workforce, access to venture capital and great support and resources from organizations like the IEDC and Elevate Ventures. With the tools needed for growth at our fingertips, we are excited to continue our momentum right here in our home state.”

In 2016, the company was announced as a winner of the Venture Club of Indiana’s pitch competition at the annual Innovation Showcase. Since its founding, myCOI has raised $2.4 million in venture capital funding, including investments from the Indiana Angel Network Fund (IANF), which is managed by Elevate Ventures, and has leveraged the state’s Venture Capital Investment (VCI) tax credit program to help attract private investment. In addition, Kristen Nunery, myCOI’s founder and chief executive officer, was named to the 2015 Young Guns list by Insurance Business America.

The Indiana Economic Development Corporation (IEDC) offered myCOI LLC up to $1,750,000 in conditional tax credits and up to $42,500 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project in partnership with Develop Indy, a business unit of the Indy Chamber.

“Indianapolis has become a magnet for innovative tech companies, and it’s great to see local businesses grow and thrive thanks to our city’s momentum,” said Indianapolis Mayor Joe Hogsett. “CBRE’s recent Tech Thirty report ranked Indianapolis fifth for technology employment gains over the last two years, a testament to innovative companies like myCOI that choose to call Indy home. Congratulations to myCOI on their expansion!”

Today, the Indianapolis region is the fifth-fastest growing community in the nation for technology-related job growth, growing at a rate of 27.9 percent. Strengthening and accelerating Hoosier innovation through strategic partnerships, ensuring Indiana plays a leading role in solving 21st century challenges, is an important part of Governor Holcomb’s plan to help accelerate Indiana’s continued economic growth.

About Shane Ray

Check Also

Hendricks County Sherriff’s Office Investigating Domestic Incident Shooting

CLAYTON- On 03/23/2023 at approximately 4:00pm Hendricks County Sheriff’s Deputies were dispatched to E Crawford …

Leave a Reply

Your email address will not be published. Required fields are marked *