July 30, 2019
LLamasoft to invest $10.7 million, create 70 jobs in Ann Arbor expansion
Supply chain management software provider LLamasoft Inc. is investing $10.7 million to expand its Ann Arbor headquarters and create 70 jobs.
The move fits into the fast-growing company's expansion plan as its revenue continues to increase.
New jobs would include software developers, engineers, professional services and sales representatives, according to a memo from the Michigan Economic Development Corp.
To make way for build-out, the company will relocate 140 of its 260 employees at its Ann Arbor office to other office space in the area effective Aug. 12, Sandra Moran, chief marketing officer, said in an email.
A completion date and cost of build-out were not provided.
The project is being supported by a $515,790 Michigan Business Development Program performance-based grant. Business booster Ann Arbor Spark will assist in the talent search. The incentives helped keep Llamasoft in Ann Arbor, in favor of competing sites in Colorado and Texas, according to the MEDC.
"LLamasoft has been one of Ann Arbor's fastest-growing companies for over a decade, and a cornerstone in our tech community," Paul Krutko, president and CEO of Ann Arbor Spark, said in the memo.
LLamasoft took on a new CEO last year to replace co-founder Don Hicks. In 2017, San Francisco-based private equity firm TPG Capital bought a majority stake in the company.
The company has 570 employees across the country. Its subscription-based revenue for the first quarter of 2019 grew 40 percent year-over-year, Moran said.