McKinney Economic Development Corporation's Innovation Fund fuels expansion for McKinney-based software development company
McKinney, Texas -- Sigmetrix, a software-development company with roots in McKinney since its inception in 1999 is expanding their global headquarters and utilizing the McKinney Innovation Fund to aid in their growth efforts.
Sigmetrix is dedicated to helping our customers design better products through mechanical variation management. They are global leaders in tolerance analysis and standards-based Geometric Dimensioning and Tolerancing (GD&T) authoring software, as well as training and consulting services on topics of mechanical variation, GD&T, and dimensional management.
The company’s solutions enable companies to better understand the impact of manufacturing variations on their designs, facilitating the ability to make more objective cost and quality decisions, achieving faster time to market, and delivering more innovative products.
The software company currently has 29 employees, with an average tenure of over 6 years, and their growth plan includes creating 7 new, skilled positions over the next three years. This expansion will bring their total number of employees to 36.
“McKinney has been a great place for us to grow our business," said James Stoddard, Sigmetrix President. "The expansion of our headquarters has a lot to do with the local market and the Innovation Fund grant was confirmation for us to continue scaling our business in McKinney.”
The company had its origins supporting the producibility group within the Defense Systems Group at Texas Instruments that was later purchased by Raytheon. Sigmetrix became a stand-alone company in 1999. McKinney has been the home of Sigmetrix for more than 20 years and the company has serviced clients worldwide, within many industries including medical devices, automotive, electronics, consumer products, aviation, and heavy machinery.
“Sigmetrix has continued to expand in McKinney since 1999 and we are proud to partner with this advanced company to continue supporting high-skilled, high-wage companies in McKinney’s growing technology ecosystem,” said Madison Clark, Project Manager, for the McKinney Economic Development Corporation (MEDC).
Sigmetrix will relocate its headquarters at 2240 Bush Drive, McKinney, TX 75070 to the Valliance Bank Building (5900 S. Lake Forest Dr., McKinney, TX 75070) by leasing 5,200 square feet. Sigmetrix is one of the many tech companies that have recently announced their expansion or relocation into McKinney via the Innovation Fund; other startups like Alanna.ai, Invene, MyTelemedicine & CourMed also recently opened headquarters in the city.
The Innovation Fund was designed to grow with companies as they scale, supplementing growth during the timeliest need in the startup lifecycle, seed, or a few customers, to Series A and or a more extensive customer base. The mission of the fund is to spur and accelerate the growth of innovation-focused companies at various levels of revenue and funding stages during the startup life cycle.
About Sigmetrix
Sigmetrix has been helping companies produce better products for over 20 years through a combination of software solutions, training, and consulting services that focus on managing the impact of mechanical variation. For more information, visit their website at https://www.sigmetrix.com.
About McKinney Economic Development Corporation
The McKinney Economic Development Corporation (MEDC) leads, directs, and coordinates the broad-based expansion of the city's business tax base. It promotes sustainable job growth, thereby continuously enhancing the citizens' quality of life McKinney area.
For more information, visit uniquemckinney.com.