KEARNEY, Neb. — Phynd Technologies found a home in Kearney.
The company, which helps health-care institutions manage and share data, plans a move that will bring 18 new jobs to Kearney over the next two years at an average annual salary of $71,000.
Phynd (pronounced find) Technologies will base its operations in Kearney with help from a $500,000 seed investment from Invest Nebraska, a venture development organization focused on helping entrepreneurs and investing in high-growth companies in Nebraska.
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Gov. Dave Heineman, local business leaders and representatives of the Nebraska Department of Economic Development and Invest Nebraska made the announcement at Xpanxion in Kearney on Monday.
“Phynd Technologies is a great addition to Nebraska’s growing technology industry,” Heineman said. “These new, well-paying jobs are a key element of our Talent and Innovation Initiative.”
Phynd’s cloud-based technology provides institutions such as hospitals and clinics an efficient process of managing and sharing provider data that is often spread across different databases.
“Phynd Technologies has all the characteristics of a great startup,” said Mark Crawford, Invest Nebraska’s CEO and investment manager. “Tom White (Phynd founder and CEO) found a problem within health-care delivery and designed an innovative solution.”
The Dallas-based White has worked with Xpanxion on past projects. He said he liked the idea of starting a company in a smaller market with high-tech expertise. He said the community’s link to the University of Nebraska also was a draw.
White was initially attracted to Kearney for its talent pool but said encouragement and support from the Nebraska Department of Economic Development clinched the deal.
“I was surprised with their desire, interest and passion for me to come here,” White said. “I felt like the DED listened to my story and really wanted my business.”
The $500,000 investment will be supplemented with an additional $1.4 million from Texas and Nebraska investors.
Invest Nebraska is partially funded by the Nebraska Department of Economic Development through the Talent and Innovation Initiative, which is aimed at encouraging small businesses, innovation and entrepreneurship in Nebraska.
Paul Eurek, CEO of Xpanxion and an Invest Nebraska board member, said he was excited to help Phynd get off the ground by investing in the company and helping to create the software that will drive the new technology.
“This is going to be huge,” Eurek said. “White is a serial entrepreneur with a proven track record. This technology is going to be a high-growth-rate business for a very long time.”
No plans were announced for where the company will locate and when it will begin hiring.