Some companies captured the rise in venture capital but now see slowdown
Local sources see the current slump in venture investing as a correction following a period of overheated activity.
Susan Orr
Articles
Pier 48 keeps serving as legal wrangling continues
The saga of disputes among the restaurant’s four founders has a new chapter, with a lawsuit filed last month against one founder by an Indianapolis financial adviser whose allegations offer a different version of events than do previous complaints.
Rebooted data privacy legislation making its way through Statehouse
A data privacy bill died in the House last year, but a Fort Wayne lawmaker said she did “an entire rewrite” before introducing a new version of the bill this year, and she’s optimistic it will gain more support.
First Internet Bank to exit consumer mortgage business
Fishers-based First Internet said the decline in the housing market and the sector’s negative outlook for the next few years prompted it to get out of the consumer mortgage business.
Old National Bank sues over failed software
The Evansville-based bank is suing financial technology firm Backbase over what it calls Backbase’s “unmitigated failure” to fulfill $18 million in software contracts for a Chicago bank Old National acquired.
Broad Ripple-based software startup Yourco selected for SXSW pitch contest
Yourco, which offers a text-messaging-based communication for non-office workers, is one of 40 companies from around the world selected to participate in a pitch contest at SXSW, the massive tech/arts/cultural event in Austin, Texas.
Indianapolis software firm Authenticx lands $20M in growth capital
Authenticx offers business communications software that allows health insurers and health care systems to analyze millions of client interactions such as phone calls and emails, helping customers improve their interactions with patients.
Indiana Wesleyan is going big on non-degree educational programs
Over the past few years, the private college has begun offering non-degree credentials and will be ramping up even more to help students upgrade their careers.
IEDC looking to key U.S. markets to generate investments in Hoosier state
The IEDC says it would like to hire two more people this year, perhaps on the East Coast and in the Southeast, who can also scout for companies that might be persuaded to invest in Indiana.
Pennsylvania-based Northwest Bank to open regional office in Fishers
Pennsylvania-based Northwest Bank, which entered the Indiana market in 2020 with its acquisition of Muncie-based MutualFirst, has been beefing up its local workforce since then.
Indianapolis-based High Alpha shifting to a founder-first model of biz creation
Traditionally, Indianapolis-based venture studio High Alpha has created new software companies by starting with an idea for a company, then finding an entrepreneur or team to lead that startup. High Alpha is shaking up that model this year.
Tech exec Mike Langellier joins High Alpha venture studio
Langellier, who stepped down in May as CEO of Indianapolis-based TechPoint, has joined Indianapolis-based venture studio High Alpha as an operating partner.
First Merchants emerges from fair-lending settlement agreement
The bank had been operating under a settlement agreement since 2019, after the U.S. Department of Justice accused the bank of engaging in discriminatory lending practices.
Plymouth-based SIMBA Chain lands 20-year government contract
SIMBA Chain, which helps customers implement blockchain technology, recently became a preferred vendor for the federal government. This means the company can do business with any federal government agency and can more easily work with other government vendors on projects.
2022 Year in Review: KAR sells off physical auto auction business to Carvana
Carmel-based KAR Auction Services Inc., which has been working to transform itself into a digitally operated company, took a big step toward that goal when it sold its U.S. physical auto auction business to Tempe, Arizona-based Carvana for $2.2 billion in cash.
2022 Year in Review: Cummins acquires Meritor in deal worth $3.7 billion
Meritor, which had 9,600 global employees pre-acquisition, is a leader in electric axle and brake technology.
2022 Year in Review: Russia’s invasion of Ukraine hits home for some Indiana companies
Companies that had done business in Russia had to decide whether to keep doing so, while companies with operations in Ukraine were faced with the challenge of protecting their Ukrainian employees and keeping their businesses functioning.
Carmel-based Rangeline Solutions eyeing growth under new ownership
Rangeline Solutions, a Microsoft partner that offers supply-chain consulting services, has been acquired by Sweden-based Nexer, which plans to grow Rangeline’s Carmel office as part of its broader U.S. expansion plans.
Bill Oesterle awarded $7.2M in lawsuit against Iowa car repair shop
Angie’s List co-founder Oesterle had filed suit against a classic-car restoration shop alleging that the company had, among other things, overbilled him for repairs, charged him for unauthorized work and sold one of his cars without permission.
Indiana Wesleyan acquires Eleven Fifty’s assets, plans to continue operating coding school
Marion-based Indiana Wesleyan University said it plans to continue operating Eleven Fifty Academy as a not-for-profit organization, with new classes beginning early next year.