GREENFIELD — When Nick Tuttle bought Sonicu in 2014, it was operating out of a garage and serving a few customers.
“We basically were a startup,” Tuttle said.
Since then, the company, whose technology allows customers to monitor various settings and systems remotely, has grown its clientele to almost 400.
Now, thanks to a $6.5 million capital investment, the company is poised for even more growth.
Sonicu’s products and services are used in the fields of health care, life sciences, pharmacy, manufacturing, food safety and industrial. Wireless sensors monitor conditions like sound, pressure, temperature and humidity for equipment and rooms to protect assets and comply with regulations. Data is transmitted that users can access from web-enabled devices.
The system replaces data logging practices that can be labor-intensive and prone to human error.
Tuttle, Sonicu CEO, said the company has about 14,000 points of monitoring among its customers.
Chicago-based Protective Technologies Capital has committed $6.5 million of capital to accelerate Sonicu’s growth and expansion plans, an investment that leaves Tuttle excited and humbled.
“Their sizable investment will allow us to immediately hire software and hardware engineers and accelerate our expansion, as we continue to provide cutting-edge monitoring technology to all current and future customers,” Tuttle said in a news release.
The investment validates all of Sonicu’s hard work over the years, he added.
“I am looking forward to a bright future with significant next steps for Sonicu,” Tuttle said.
Sonicu was founded in 2008, currently has about 20 employees and has its headquarters at 11 American Legion Place in downtown Greenfield.
Many of the company’s customers are in Hancock County and central Indiana, but they’re also coast to coast, Tuttle told the Daily Reporter.
“We’re cloud-based, so it doesn’t really matter where our home office is,” he said.
Protective Technologies Capital’s investment will lead to the hiring of 20 employees, doubling its current workforce, Tuttle also said.
“They got big plans for us,” he said. “Should be pretty exciting times.”
Tim Fries, co-founder of Protective Technologies Capital, said in the news release that Sonicu meets firm’s investment criteria perfectly.
“We partner with high-performing, high-potential sensing, protection and control businesses by offering resources and experience to navigate change and accelerate growth,” Fries said.
Dennis Karr, co-founder of Protective Technologies Capital, said the firm was founded with a vision of partnering with businesses exactly like Sonicu.
“We have the flexibility to meet the needs of business owners considering an outside capital partner, and we are resolutely committed to upholding our core values,” Karr said in the release.
The investment was effective in November 2020 and leaves in place Sonicu’s executive team: Tuttle, chief technology officer Jason Young, chief revenue officer Joe Mundell and chief financial officer Clay Hopf.
