Originally posted by IEDC on March 28, 2017
INDIANAPOLIS – Kinney Group Inc., a cloud solutions integrator, has secured $6 million of investments through its latest funding round, which will support the company’s continued headquarters growth and job creation in Indianapolis.
“Access to capital is crucial for growing Indiana companies like Kinney Group to meet market demands and hire more Hoosiers,” said Jim Schellinger, Indiana Secretary of Commerce. “Through these investments, Indiana is making strategic moves to position our state as a leader in high-growth, high-wage industries like technology. When paired with our state’s world-class business environment, these investments are attracting capital to Indiana from across the country.”
Kinney Group’s funding announcement follows its 2015 growth announcement, when the company shared its plans to invest $5.8 million into its growth and create up to 89 new high-wage jobs by 2019. Since the announcement, the company has expanded to operate in nearly 10,000 square feet at 2425 W. Michigan St. on Indianapolis’ west side, and is working now to build out an additional 10,000-square-feet of its facility. This will provide the company with an updated office to serve its information technology clients, including Global Fortune 2000 businesses and public sector organizations.
“Kinney Group helps organizations harness the power of information technology in the cloud to make life better for their businesses, missions, and colleagues,” said Jim Kinney, chief executive officer and founder of Kinney Group. “The investment will help us accelerate our company growth in the areas of secure cloud computing, analytics and data center automation.”
Kinney Group’s growth comes as Indiana continues to develop as a 21st century innovation leader. Indianapolis is ranked fifth in the nation on Forbes’ list of cities creating the most tech jobs in 2017, with total employment at central Indiana tech companies like Kinney Group up 68 percent since 2006. Governor Eric J. Holcomb’s 2017 Next Level Legislative Agenda proposes accelerating this momentum across the state by making available $1 billion over the next 10 years to establish Indiana as the national capital of innovation and entrepreneurship.
“Kinney Group is on the edge of explosive growth,” said Sarah Nelms, chief operating officer of Kinney Group. “With this round of funding, we have fuel in the tank to meet market demands and scale our organization.”
Founded in 2006, Kinney Group works to improve people’s lives through technology, with a focus on helping its clients transition to the cloud. Splunk, a California-based big data software firm, presented Kinney Group with its 2016 Public Sector Professional Services Partner of the Year award, and earlier this year presented the company with its Global Partner Marketing Excellence award. Kinney Group was also a TechPoint Mira Award nominee for Tech Company of the Year last year, and has been nominated once again this year.
This $6 million funding round includes an investment from Indiana’s 21st Century Research & Technology Fund (21 Fund), which is managed by the state’s venture development partner, Elevate Ventures. The funding round also includes private funding from Michigan-based Plymouth Ventures. Investments through the 21 Fund are designed to support the growth of target industries, help Indiana-based companies grow and attract additional out-of-state private co-investment to Indiana.