Studio Science, a leading design and innovation consultancy, today announces a growth capital investment from Inoca Capital Partners. Studio Science will use the funds to support the expansion of its core design and consulting practice areas and the build-out of the company’s growing e-commerce experience business.
With continued participation from existing investors, the investment will allow Studio Science to grow new lines of business focused on designing, implementing, and supporting Salesforce Commerce Cloud experiences for businesses. These commerce-related service lines have grown by 200% over the past two years.
“Studio Science is defining what a modern, people-centric design consulting partner will be in this new era dominated by experiences,” said Chris Sheffert, Managing Director and Founder Inoca Capital Partners. “The company’s unique combination of design and technology – along with their new services focused on Salesforce Commerce Cloud – have the potential to provide outsized value to businesses and capture a large piece of the multibillion-dollar creative/digital services and technology system integrator markets.”
The growth capital follows a period of change and acceleration for Studio Science. Over the past three years, the consultancy has more than doubled annual revenue and shifted a large portion of that revenue into the global enterprise, focusing on businesses in the Fortune 500.
“I have partnered with Studio Science across three companies: Salesforce, Genesys, and now Alteryx,” said Keith Pearce, CMO, Alteryx. “Each time, they have delivered world-class experiences to our customers, employees, and partners.”
Now with employees in 10 states, the company will retain its Monument Circle headquarters in downtown Indianapolis. “Indianapolis has been our home and the center of our growth for 25 years,” said Steve Pruden, CEO, Studio Science. “We will continue to harness the creative and technical talent in the city and are proud to call Indianapolis our headquarters.”
With the growth capital, Studio Science has a new board of directors to provide expertise and guidance as the company grows. It is comprised of members of ownership plus independent directors:
- Rich Lyons, former founder and CEO of Lyons Consulting Group, the foremost leader in digital customer experience. He led the company’s strategy and vision and worked closely with customers. In 2017, Lyons Consulting Group was acquired by Capgemini. Most recently, Mr. Lyons founded the MBA program at The Lyons School of Transformational Business at Wright Graduate University, focusing on leading and managing business’s greatest asset, its people.
- Dan Rudolph, Operating Advisor, Inoca Capital. Mr. Rudolph is a 20 year Silicon Valley software executive, former Chief Operating Officer of Stanford Business School and has worked in private equity as an operating partner helping to drive growth for industry-leading companies for the past ten years. Previously, Dan was President and Chief Executive Officer of Imparto, a Business-to-Business e marketing company that he sold in late 1999. Earlier, he spent four years at Intuit, where he led the marketing team that acquired the first million QuickBooks customers.
- Chris Sheffert, Managing Director and Founder of Inoca Capital.