FREDERICK, Md. (AP) – A Maryland state-sponsored venture capital fund is helping a growth-minded technology firm move its headquarters from Indiana.
The Department of Business and Economic Development said Monday that the Maryland Venture Fund has invested $500,000 in Blue Pillar, a company that makes software to help large organizations manage energy consumption.
Blue Pillar’s business relations chief, Scott Bender, says the company has about 40 workers, mostly in Indiana. He says the engineering and development teams will remain there while the company expands its headquarters office in Frederick.
Bender says Blue Pillar plans to have 65 to 70 workers by year-end, and 80 to 100 by the end of 2016, with about half of those employees in Frederick and half in Indianapolis.