ClearScholar Expands Operations In Indianapolis, Indiana
A portfolio company of High Alpha, ClearScholar is an Indianapolis-based venture studio managed by former ExactTarget CEO and co-Founder Scott Dorsey. The company moved into its new 2,000-square-foot office in the Lacy Building on Monument Circle earlier this month. Its new office, which is more than double the size of its previous office in Circle Tower, provides the team with eight additional dedicated workstations as well as increased space for collaboration and partnership meetings.
"We are invigorated by our success with Butler University and bullish on the feedback we are receiving from other institutions who have affirmed our vision and see great value in leveraging institutional data alongside technology to transform how students engage with learning institutions," said Konesco.
The Indiana Economic Development Corporation (IEDC) offered ClearScholar Inc. up to $39,000 in training grants and up to $340,000 in conditional tax credits based on the company’s job creation plans. These tax incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project in partnership with Develop Indy, a business unit of the Indy Chamber.
The company currently employs 11 full-time associates and plans to hire for sales and customer success positions throughout 2017 to meet customer growth.
Founded in 2016, ClearScholar partners with higher education institutions to leverage its mobile application technology to drive increased student engagement and, ultimately, student success and graduation rates. Through its student engagement platform, ClearScholar is working to change the way that universities connect with students by leveraging both data science and behavioral science to nudge students to engage with their university.
ClearScholar recently announced a three-year partnership with Butler University, and the ClearScholar app launched to the entire Butler student population in January of this year. Today, 73 percent of students at Butler University have downloaded the mobile application, and 70 percent of these students have used the application at least once per week.
“Whether it’s this month’s top-five ranking from Forbes or the continual stream of local tech industry news, Indiana’s status as the Silicon Valley of the Midwest is now clear,” said Elaine Bedel, President of the Indiana Economic Development Corporation.
“By building a climate with a low cost of doing business, a top-notch talent base and a supportive industry ecosystem, Indiana has rapidly grown into the location of choice for growing tech firms. Today, ClearScholar’s news showcases the power of the tech innovations we can grow here at home,” she added.
In December, Elevate Ventures, the state's venture development partner, participated in a $1.25 million investment round for ClearScholar, which included an investment from the Indiana Angel Network Fund. As an initiative of the Indiana 21st Century Research and Development fund, the federally-funded Angel Network Fund invests in seed-stage companies alongside qualified angel investors.
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