MomentPath will invest $800,000 to scale up its operations in Hamilton County, IN, and plans to hire up to 50 new employees by 2022. The Carmel-based software company provides a platform to help child care providers connect with loved ones and deliver insight into the care they provide.
“I’ve spent my entire life in Indiana, and I’m proud to locate MomentPath here and employ fellow Hoosiers,” said Caitlin Coffman, founder and CEO of MomentPath. “I’ve seen firsthand the kind of innovation and hard work that happens in Indiana, and I’m thrilled to grow the company in our great state.”
MomentPath (formerly tend.ly) provides solutions for monitoring preschool, child care, day care, senior living and elderly care facilities through a comprehensive software platform. Since its launch, the company has had more than 2.1 million interactions, or moments, through the app. In 2018, MomentPath secured a $1 million seed-stage funding round led by Indiana-based investors, Mike Simmons, Scott McCorkle, Eric Tobias and Michael Browning, and venture capital firm Elevate Ventures, which invested $150,000 from the state’s 21st Century Research and Technology Fund (21 Fund).
The Indiana Economic Development Corporation (IEDC) offered MomentPath up to $700,000 in conditional tax credits based on the company’s job creation plans. These tax credits are performance-based, so until employees are hired, the company is not eligible to claim incentives. The city of Carmel supports the project.
“Innovative products and ideas from Hoosier entrepreneurs like Caitlin Coffman are what fuels Indiana’s reputation as one of the fastest-growing tech hubs,” said Elaine Bedel, IEDC president. “Our pro-growth climate paired with our state’s passion for supporting small businesses and startups make Indiana the ideal place to scale up an innovative company like MomentPath.”
“This is great news concerning one of Carmel’s many small businesses that have taken root in our community and blossomed into a growing company,” said Mayor Jim Brainard. “It is particularly nice to note that MomentPath has been headquartered in our Arts & Design District, home to more than 200 arts or design related companies that are also enjoying success from our vibrant community and small-business environment. We look forward to watching their growth in the future.”
Relocating Or Expanding Your Business In Indiana
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