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Nov 02, 2018

Socio

Socio, a business-to-business Software as a Service (SaaS) company, plans to expand its operations in Indianapolis in order to keep up with growing demand from clients across 17 countries for its event technology platform. The company plans to significantly scale up its Hoosier workforce, creating more than 100 new jobs by the end of 2022.  



"Central Indiana's network of innovators continues to grow each day, and we're excited to see Socio commit to helping propel the tech industry even further," said Governor Eric J. Holcomb. "The world is more connected now than ever before, enabling companies like Socio to serve customers across the globe from a hub here in a pro-growth business climate with a skilled workforce."

 


 

Socio, which helps enterprises and small businesses optimize their events and boost return on investment for their organizers, attendees and sponsors, has averaged 450 percent year over year revenue growth in the last two years. The company serves hundreds of customers across six continents including Google, Microsoft, PepsiCo and Hyundai. 

Socio, which employs 15 full-time associates in Indiana as well as additional team members at its European operation in Istanbul, has already hired 10 associates toward its goal of 156 new jobs. The company is currently hiring sales development representatives, account executives, customer service representatives, a digital marketing manager, a QA engineer, a product manager and a chief of staff. 

"With digitization and globalization changing the landscape of economic growth, we believe that Indiana, with its available talent pool, affordable cost of living and direct access to venture capital, is well on its way to becoming a hub for innovation and business prosperity," said Yarkin Sakucoglu, Socio CEO. "We are very excited to be part of the growing startup ecosystem and provide hundreds of jobs to fellow Hoosiers here in Indianapolis." 

To accommodate its growing team, Socio will invest $1.2 million in its Indianapolis headquarters over the next five years. The company recently renovated and moved into a 2,527-square-foot downtown office space at 115 W. Washington St. and is already exploring potential future Indianapolis office spaces that would support continued growth. 

"Indianapolis is a leader in marketing tech, and companies like Socio build our international profile, expanding homegrown innovation globally," said Indianapolis Mayor Joe Hogsett. "Our tech ecosystem continues to grow, providing a pipeline of talented individuals who choose to call Indianapolis home. We congratulate Socio on their success."

The Indiana Economic Development Corporation (IEDC) offered Socio up to $2.2 million in conditional tax credits 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 at the request of Develop Indy, a business unit of the Indy Chamber.



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