Downtown high-tech business announces $20M investment, growth plans

News

INDIANAPOLIS (WISH) — A high-tech business that helps employers lower health care costs announced expansion plans Monday.

Springbuk, located in The Union 525 building at 525 S. Meridian St., said in a news conference that its expansion would add more than 100 jobs by 2020. The growth comes from after the business received $20 million in venture capitol financing.

The business gathers employee heath data with the goal of cutting costs for employers. Phil Daniels, a co-founder of Springbuk, said most of the new jobs would be in data science and engineering. The company had 49 employees at the end of 2017, according to a venturebeat.com report. Daniels founded the company with Rod Reasen in 2015.

Daniels said in a statement, “This investment, which is among the largest that our city has seen, sends a loud, clear message to the rest of the country: We build high-value technology in Indianapolis. This city is the perfect hotbed of both healthcare and tech talent for us to build a company that can help save billions of dollars in healthcare costs.”

Mayor Joe Hogsett and others in the local tech communities joined Springbuk employees for the afternoon announcement in the gym of The Union 525 building.

© 2019 Circle City Broadcasting I, LLC. | All Rights Reserved.

LIKE US ON FACEBOOK

FREE News & Weather Apps

Storm Track 8 Weather App

Download Now:

WISH-TV News App

Download Now: