Indianapolis-based ShipSigma announced plans to invest $2 million to expand operations. The company, which had developed a Software-as-a-Service platform to help customers benefit from the lowest parcel shipping costs, says it will create up to 125 jobs by the end of 2026.
The company recently leased 6,000 square feet of space at 235 S. Meridian Street in downtown Indy.
ShipSigma currently employs 25 people and the new jobs are expected to offer an average hourly wage of $42.
Co-founder and CEO Chase Flashman said the investment isn’t just about real estate, but about talent coming into the pipeline.
“The IUPUI School of Computing is a key partner, and we are truly impressed with the students in this program who are already working with us,” Flashman said in written remarks.
ShipSigma’s platform uses artificial intelligence to provide shipping insights and analytics, as well as carrier contract analysis and negotiation, which it says will save customers around 25% on shipping costs per year.
The company claims to have seen a 489% increase in revenue since its inception, as well as an 843% growth in its customer base, which ranges from small businesses to Fortune 1000 companies. One of its local customers is Huse Culinary, parent of St. Elmo’s Steak House in downtown Indy.
“We ship tens of thousands of bottles of our fiery St. Elmo cocktail sauce all over the United States and ShipSigma has dramatically reduced our shipping costs and cut our carrier errors by more than half,” said Bryn Jones, vice -President of Marketing and Retail at Huse. . “Partnering with them is a no-brainer, no matter where their offices are; however, seeing them aggressively investing in the growth and revitalization of downtown Indy makes us even more excited and proud to partner with them.
The Indiana Economic Development Corp. offered ShipSigma up to $2.3 million in tax credits and $75,000 in conditional training grants, which the company cannot claim until Hoosier workers are hired for the new jobs .
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