31 Jan IU Ventures makes major investment in Indianapolis-based enterprise software company MetaCX
Indianapolis — IU Ventures has invested $250,000 in MetaCX, an Indianapolis-based company that has developed a revolutionary software platform that commercial enterprises and social impact organizations use to align stakeholders and measure value for their most strategic initiatives. The company was founded by Scott McCorkle, an Indiana University alumnus and globally recognized software-as-a-service leader. IU Ventures is IU’s early-stage venture and angel investment arm.
MetaCX’s innovative technology is a radical departure from today’s world of enterprise software. Instead of focusing on the workflow or processes of a single organization, MetaCX is a multi-stakeholder platform that organizations use to build networks that align all internal and external stakeholders on key strategic initiatives. These networks can be interconnected in layered ecosystems, coalitions and one-to-one relationships, leading to a digital world that mirrors the physical one. MetaCX was launched out of Indianapolis-based venture studio High Alpha in 2018.
“We would like to change the way enterprises think about the software they need to run their businesses,” said McCorkle, who serves as MetaCX’s CEO. “Instead of an enterprise accessing business software through a browser, MetaCX enables a business to access a new digital space where they can connect with other businesses and organizations of any kind to collaborate on and achieve commercial or social value.”
McCorkle was interested in having IU Ventures participate in MetaCX’s $8 million financing round after attending and delivering the keynote address at last year’s IU Founders & Funders Network Venture Summit. The annual summit, held on the IU Bloomington campus, brings together IU’s community of entrepreneurs, innovators and investors for a series of educational and networking events.
“Scott has led some of the most forward-thinking platforms ever to be born out of Indiana and MetaCX is next on that list”, said Jason Whitney, chief venture officer at IU Ventures and executive director of the IU Angel Network. “Their innovative approach to helping companies achieve their operational and social goals is revolutionary.”
McCorkle, a 1995 graduate of IU’s Kelley School of Business, has more than a quarter century of experience leading teams in the business of emerging marketing technologies, most recently as the CEO of Salesforce Marketing Cloud and as president of technology and strategy at Indianapolis-based ExactTarget, which Salesforce acquired in 2013 for $2.5 billion. He spent 11 years at ExactTarget and Salesforce, helping to build one of the world’s leading cross-channel digital marketing software platforms. Prior to his career at Salesforce, McCorkle served in leadership roles with tech companies including Software Artistry, Mezzia and IBM.
About IU Ventures:
IU Ventures invests in and supports IU-affiliated early-stage companies. Its investment programs include the IU Philanthropic Venture Fund, IU Angel Network, Shoebox Fund and Innovate Indiana Fund. It further supports IU founders through the Executive in Residence Program and IU Founders and Funders Network. Student support is provided through a variety of engagements, including the new IU Venture Fellows Program. Each program takes unique approaches to accelerate and support the positive impacts that entrepreneurs affiliated with IU already achieve across the world. IU Ventures is a recognized leader in increasing opportunities for diverse and historically underserved entrepreneurs and investing in Indiana startups with a shared commitment to diversity, equity and inclusion.
Emily Atkinson, Ph.D.