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Member Newsletter September 29, 2016
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Montana High Tech News

SoFi’s Helena Team Serves 150,000+ customers, $10 Billion in Loans: Q&A with Megan Smith, Human Resources Manager

Launched in 2011, SoFi is a San Francisco-based financial technology (fintech) startup that raised $1 billion in 2015 and has financed $10 billion in loans. SoFi’s core software engineering team is based in Helena. Directors of Engineering David Thompson and Matt Conroy plan to grow their Montana team to 100+ developers.

Quick Facts:


Company: SoFi

Location: Helena and San Francisco

Industry: Financial Technology

Founded: 2011

Employees: 587 across the company, 82 in Helena (and expanding!)

Key Leaders:
Mike Cagney, co-founder and CEO

Matt Conroy and David Thompson are the Directors of Engineering for SoFi, Inc. They helped the initial team to get SoFi up and running in Montana as well as a more recent office in Salt Lake City that is continuing to grow.

June Ou, VP of Engineering, is located in SoFi’s San Francisco office.

“Montana is such a great place to live with so much to do no matter what your interests are…Helena really portrays what Montana has to offer, and its central location is perfect for exploring the state; you can drive an hour or so and visit a new city, enjoy nature in the mountains, or even explore an old ghost town…There is a strong sense of family and community, which is great to be a part of.”

- Megan Smith, Human Resources Manager, SoFi

How did SoFi get started?


SoFi was founded in 2011 by a team of Stanford Graduate School of Business (GSB) students who recognized that traditional banking institutions left certain population segments, especially young professionals, underserved. Mike Cagney, co-founder and CEO, knew there was a problem with financial services and wanted to fix it by creating a model that didn’t revolve around high fees and poor customer service.

Our model initially connected alumni and institutional capital directly with alumni borrowers – by leveraging the interest fellow alumni have in seeing graduates of their alma mater be successful, the founders hoped SoFi could provide more affordable options for those taking on debt to fund their education. SoFi has since moved away from an alumni-funded model to a nontraditional underwriting approach focused on lending to financially responsible individuals, and has surpassed more than $10 Billion in loans funded across its products: student loan refinancing, mortgages and personal loans.

What does your company do?


SoFi is a new kind of finance company taking a radical approach to lending and wealth management. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result.

Our current product offerings include student loan refinancing, mortgages, personal loan and mortgages, and our members benefit from great additional free services like access to our career strategy team, free member events around the country and an entrepreneur program.

Who are your customers?


SoFi members are a group of people who have a drive for success – they’re the type who will give it their all to get where they want to be. We like to think of them as financially responsible individuals who are proud make investments in their future, such as taking out student loans to finance their education or buying a home.

Who do you hire?


We look for people who share our mission to empower people to achieve their financial goals, and who share that spirit of ambition. As a fast-moving startup, we also look for employees who are creative, collaborative and results-driven in their work style.

What is special about your company?


SoFi received the largest funding round for any fintech company to-date in a 2015 $1 Billion Series E, and we’ve been on CNBC’s Disruptor 50 list for two years running. Our 600+ employees are committed to providing an unparalleled experience for our 150,000 members while always striving for new ways to better serve them through our products, online experience, as well as offline engagements. We also pride ourselves on a culture of transparency and accountability - our CEO addresses the full SoFi team in weekly all-hands meetings.

What are your plans for the future?


Our plan as a company is to continue to develop new ways to help our members achieve their financial goals - our upcoming wealth management tool, currently in beta for our members, is one example of that, and you can expect to see more in the near future.

What do you like about Montana? Your community?


Montana is such a great place to live with so much to do no matter what your interests are. There are some incredible places to visit and so much culture and diversity. Helena really portrays what Montana has to offer, and its central location is perfect for exploring the state; you can drive an hour or so and visit a new city, enjoy nature in the mountains, or even explore an old ghost town. Helena is also very culturally diverse, which is a wonderful complement to the gorgeous natural scenery found here – it’s really the best of both worlds. There is a strong sense of family and community, which is great to be a part of. 

Connect:


SoFi Facebook

SoFi Twitter

SoFi Instagram

Please check out all SoFi has to offer at Sofi.com

And if you’re looking for an exciting career move, check out Helena's open positions:

Feature Your Company in a Future Newsletter

Tell your story through our Member Q&A. Answer at least 5 of the 15 questions (or give them to your marketing person) and we will feature your company in our newsletter, social media and on MTHighTech.org. Click here to access the newsletter questions. We also publish guest posts and press releases from members. Contact rachel@mthightech.org for more information.

Member News:

IronCore Labs and Pulsara Take Top Prizes in Montana Pitch Fest

Montana State University Jake Jabs School of Business and Entrepreneurship hosted the Montana Pitch Fest with Colorado-based Rocky Mountain Venture Capital Association on September 22, 2016. The contest included six Alliance member companies - IronCore Labs, Clearas Water Recovery, Hoplite Industries, Ignite FeedbackAudience Awards and Pulsara. Of these participants, IronCore Labs tied in first place with Submittable, with Pulsara taking second place.The winners received a travel stipend to visit with the venture capital firm of their choice.

Organizers and sponsors of the Montana Pitch Fest included VP John O'Donnell of Alaska Growth CapitalFirst Interstate Bank, Dorsey & Whitney LLP and Next Frontier Capital.
Read More: MSU to host “Shark Tank”-style business competition (Bozeman Daily Chronicle) IronCore Labs wins Pitch Fest for High-Tech Start-Up Companies (IronCore Labs Press)

Total BS Media Founders to Serve as Fall entrepreneurs-in-residence, speak Oct. 13 at MSU

Brit Booth and Sarah Hunter, co-founders of Total BS Media, will serve as the Montana State University Jake Jabs College of Business and Entrepreneurship’s fall entrepreneurs-in-residence and give a free public lecture at 6:15 p.m. Thursday, October 13, in Jabs Hall 111 on the MSU campus.As entrepreneurs-in-residence for the week of October 10, Brit and Sarah will also visit business classes and meet with students in the college’s entrepreneurship program.

Click here for more information on the lecture or the entrepreneur-in-residence program, or contact Linda Ward at lward@montana.edu or (406) 994-1995. 
SoFi. SoFi Plans to Offer Life Insurance by End of Year (Bloomberg Technology)
Advanced Technology Group. Getting Ahead - ATG New Hires and Promotions (Missoulian)
MSU College of Engineering. Robots break ground for MSU's new Engineering College (Bozeman Daily Chronicle) MSU launches new center designed to improve engineering students’ success (MSU News Service)
MSU Jake Jabs College of Business and Entrepreneurship. Owners of Dee-O-Gee to speak Oct. 17 at MSU Entrepreneur Day (MSU News Service)
Stockman Bank. Stockman Bank seeks Demolition Approval for Vacant Cine 3 Theater (Missoula Current)

University of Montana's 3rd Annual Computer Science High Tech Career Fair

The University of Montana Computer Science Department is hosting its third annual high tech career fair, on Thursday, October 13, 2016, 10:00 am - 4:00 pm at the University of Montana. The fair is held in a prominent area of the University Center and will be visited by hundreds of students. All companies who project entry-level or internship computer science hires are strongly encouraged to attend. 

Registration is only $40, by check or charge. Click here to register and for more information.
 

Upcoming Events:

Save the Date: Upcoming Alliance Member Receptions in 2016

  • Missoula, Tuesday, November 15, 2016, 5:00-7:00PM hosted by First Interstate Bank. Board of Advisors meeting and CEO Roundtable 2:30-4:30PM.
Spika Manufacturing Day Event - Lewistown. Thursday, September 29, 2016, 5:00 pm to 8:00 pm. Event at Spika’s shop with tours and activities for people of all ages.
TecNet Billings, Thursday, September 29, 2016, 5:00 pm. Hosted by Arrow Solutions Group at St. Vincent Healthcare. Meet your peers to share some great conversation, connections, IT war stories, and complimentary local food and beverages. Click here for more information and to register for this event.
A Showcase of Local Manufacturing - Kalispell. Tours of local manufacturing facilities begin on Friday, September 30, 2016 at Kalispell Kreamery, and continue until Tuesday, October 20, 2016 when the annual timber tour will be held. Other tours are scheduled. Click here for more information and tour dates.
Innovation Nuggets with George Barbee - Missoula, Monday, October 3, 2016 4:00pm to 6:00 pm. Hosted by the University of Montana School of Business Administration and the Blackstone LaunchPad. George Barbee who will share insights from his extensive business career and new book "63 Innovation Nuggets". Click here to for more information and to register for this event.
Montana Manufacturing Extension Center Compete Smart Conference - Fairmont Hot Springs (outside of Butte), October 5 - 7, 2016. Marking MMEC's 20th anniversary. Keynote speaker Janyce Fadden.  Click here for more details and registration
MSU 29th Annual Fall Career Fair - Bozeman, October 6, 2016. Employers, register now reserve table locations. Click here to register online
Project Management Institute (PMI) Montana Chapter - Bozeman, Saturday, October 8, 2016 9:00am-4:30pm. Come network with peers and professionals and spend a fun day learning more about project management! Sponsors include ATG and Blackfoot Telecommunications. Event location: Best Western Plus Grantree Inn, 1325 N 7th Ave, Bozeman, MT 59715. Click here for more information.
Computer Science Career Fair - Missoula, Thursday, October 13, 2016, 10:00 am - 4:00 pm at the University of Montana. Click here for employer registration and more information.
Total BS and MSU Blackstone LaunchPad feature Entrepreneurs-in-Residence - MSU Jabs Hall, Bozeman. Wednesday, October 12, 2016 at 5:00 pm is the Workshop at Jabs Hall 211. Thursday, October 13, 2016 at 6:15 pm is the Public Presentation at Jabs Hall 207. Total BS will be sharing their successful approaches to inbound marketing and TM pending "Irreverent Strategery" as well as their story with the audience. Click here for more information.
1 Million Cups - Bozeman. Wednesday, November 2, 2016 at 7:30am at Red Tractor Pizza. Featured Speaker is Purse for the People. Click here for more information.

New Members:

Welcome:

Kimmel Kreations, Tricia Kimmel, Turner

Montartica, Travis Rhoads, Malta
Recent Newsletters:
09/22/2016 - ViZn Energy Growing Fast in Columbia Falls, Added 45 Employees in Two Years: Q&A with Paul Siblerud, V.P. Product Management
09/13/2016 - Kalispell Reception Highlights (with Photos): Glacier Bank Hosts Packed House for Event Featuring Applied Materials, ViZn Energy
09/01/2016 - PFL (PrintingForLess.com) Grows from World’s First Online Print Shop to MarTech Machine: Q&A with Suzie Lalich, Human Resource Director
08/25/2016 - PROOF Research Takes High-tech Approach to Re-invent the Future of Firearms: Q&A with Chris Polley, Marketing Manager
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