May 18, 2023
EDITOR'S NOTE: This story was originally published by Crain's Grand Rapids Business
The state today awarded a $510,000 grant to assist Tiicker Inc.’s expansion in a new office in downtown Grand Rapids that’s expected to create 73 jobs over three years.
Tiicker founder and CEO Jeff Lambert in late 2022 bought a building at 61 Commerce Ave. SW in Grand Rapids to serve as the headquarters for Tiicker as well as offices for Fairly Painless Advertising, a company owned by his public relations and investor relations firm, Lambert & Co.
Tiicker, which works with publicly traded companies to provide loyalty perks to small retail shareholders, expects to invest $4.8 million over three years as part of its expansion, according to an announcement from Gov. Gretchen Whitmer’s office.
The company presently employs seven people at offices in Detroit and Grand Rapids.
“It’s time for our team to expand in line with our platform’s growth,” Lambert said in a statement. “As we grow, these funds will help us recruit and retain high-tech and sales talent in Michigan — my home and an incredible place to work, play and scale a world-class startup.”
Lambert co-founded Tiicker in Detroit in mid-2020 and moved the headquarters last fall to downtown Grand Rapids, a few doors away from his public relations and investor relations firm. Lambert plans to house both companies at 61 Commerce, which he acquired in December for $3 million.
Tiicker this spring closed on a $5 million capital raise that will go to support the fintech’s ambitious growth plans over the next few years.
“We have certainly aggressive growth plans,” Lambert told Crain’s Grand Rapids Business last month. Lambert at the time predicted that direct-to-shareholder marketing for public companies will grow from an estimated $10 million industry today to $100 million in three years and $1 billion within five.
Lambert also said last month that Tiicker’s move from Detroit to Grand Rapids was “a reflection of the emerging tech culture in Grand Rapids, lifestyle benefits, and kind of the synergy between the Lambert family of companies.”
“As a region, we are committed to fostering a diverse and thriving technology sector,” Jen Wangler, vice president of technology at The Right Place Inc., said in a statement.
The economic development organization last year launched a 10-year strategy to bring thousands of tech-sector jobs to the region.
“Tiicker’s decision to expand in Grand Rapids proves that we are making significant strides in achieving this goal,” Wangler added. “We’re thrilled to have a Wall Street pioneer building in our community.”