When you think "technology hub," giant corn stalks likely don‘t spring to mind. However, Iowa has rapidly emerged as a vibrant breeding ground for high-tech innovation across many sectors.
Home to over 2,500 tech firms contributing $10.7 billion annually to the state GDP, Iowa punches far above its weight when it comes to birthing influential new companies according to Compound Annual Growth Rate data. Many household names trace their roots back to the Hawkeye State‘s fertile economic soil.
This article showcases some of the biggest tech players currently thriving in the Silicon Prairies, along with key context on what makes Iowa such fertile tech ground. You may be surprised at the industry leaders Iowa has spawned!
Workiva – Turning Enterprise Reporting From Drudgery to Competitive Edge
Regulatory compliance normally triggers yawns instead of innovation. Yet that‘s exactly the arena where Ames-based Workiva has made enterprise reporting quicker, more connected, and most importantly transparent.
Founded in 2008 by technologist Jeff Trom, Workiva created the Wdesk cloud platform to unify and streamline business reporting. Instead of siloed Word Docs and disjointed data, companies can manage end-to-end reporting workflows in one secure, collaborative system.
- Over 300 pre-built report templates meet SEC, SOX, COSO, and other regulatory requirements
- Connects data, documents, tasks, and conversations into centralized repositories
- Advanced permissions enable cross-departmental transparency while restricting sensitive data
Workiva dashboard centralizes key reporting and compliance data sources (Image credit: PCMag)
This unified governance, risk, and compliance approach has catapulted Workiva‘s growth over the years:
- 1,300+ employees
- 75% of Fortune 500 companies as customers including Bank of America, Toyota, Netflix and Nike
- $351 million in 2021 revenue, up nearly 20% from 2020
- Over 170 countries using Wdesk, going public in 2014 (WK stock ticker)
Workiva has transformed business reporting from a tedious chore into a streamlined competitive advantage – proving ingenuity and tech leadership can originate anywhere.
Why does speedy, accurate reporting matter so much?
Public companies face SEC fines starting at $100,000 for filing incorrect financial statements. Workiva‘s audit-ready system minimizes mistakes that could lead to penalties.
Dwolla: Innovating Digital Payments in Iowa‘s Capital
Can a scrappy Des Moines startup challenge payment giants like Paypal and Stripe?
That‘s the mountain Dwolla has climbed over the past decade, leveraging technology to make online bank transfers and money movement far friendlier.
Founded in 2010, Dwolla aims to "upgrade America‘s online payment infrastructure one API request at a time" according to president OJ Ndoma-Ogar. That niche focus on smooth integration has attracted 75 employees and $10 million in funding from leading Midwest VC firms.
So how exactly does Dwolla innovate on the aging ACH payment rails to move $1B annually?
- Low, transparent pricing – Flat $0.25 per transaction up to $10, 1% per transaction above $10
- Near real-time transfers – Under 30 minutes instead of multiple days with traditional wires
- Robust API and SDKs – Easy integration for platforms needing payments (Shopify, Wix etc.)
- White label offerings – Banks can license Dwolla‘s software to upgrade their internal systems
Top brands like Jaguar Land Rover, Indeed, and Bloomberg leverage Dwolla‘s payment infrastructure within their own finance flows, earning the startup quality kudos like Aite Group‘s API Excellence award alongside banks 10X its size.
Quietly but surely, Dwolla has nurtured a payments niche that complements titans like PayPal focusing elsewhere. Not bad for Iowa‘s burgeoning "Silicon Prairie!"
Who regulates digital payments?
As an official money transmitter, Dwolla falls under strict supervision by bodies like the Iowa Division of Banking, FDIC, FinCEN, and OCC to securely handle client funds.
Collins Aerospace: Aviation Tech T titan Rooted in Iowa
Massive planes dotting airport tarmacs rely on one Iowa company for many of their internal instrumentation and avionics. Collins Aerospace, formerly Rockwell Collins, keeps in-flight systems running smoothly for both civilian and military aircraft worldwide.
Tracing its lineage to 1933 radio maker Collins Radio Company founded in Cedar Rapids, Collins Aerospace has evolved into a 50,000 employee technology conglomerate following mergers with Boeing and United Technologies Corporation (UTC) over the past decades.
Today Collins supplys integrated solutions for aircraft connectivity and communications, flight controls, engine controls, landing gear systems, and cabin systems from its Iowa headquarters:
Key Business Units
- Avionics – Global Positioning, weather radar, environmental controls
- Communications – VHF radios, navigation, satellite comms
- Flight Controls & Simulation – Auto throttle controls, flight simulators
- Interiors – Galleys, overhead bins, lavatories
- Mechanical Systems – Generators, landing gear, engine components
- Mission Systems – Radar, targeting pods, weapon release systems
As one of the western world‘s principal aviation contractors spanning commercial, defense, and business sectors Collins boasts an estimated 70% global air transport market share Three of every four aircraft utilize Collins hardware or software in some capacity!
Names like Boeing, Airbus, Embraer along with the U.S. Department of Defense count among 2000+ customers depending on Iowa engineering for safety and performance. Lufthansa, American Airlines, Southwest, Delta, and United all fly Collins-equipped aircraft as a testament to Collins‘ quality and reliability.
Next time you buckle up for takeoff, raise a toast to Iowa ingenuity likely surrounding you on all sides! Collins helps global travel stay smooth and safe each day…not bad for a Midwest upstart.
Just how vast is the aviation industry Collins serves?
Over 100,000 commercial flights transport 4+ billion passengers yearly. Collins hardware enables the bulk of these trips.
CourseLeaf by Leepfrog – Simplifying Campus Technology One Syllabus at a Time
Niche startups can still grab hold and thrive in Iowa‘s enterprise landscape. Exhibit A: Leepfrog Technologies. This offshoot of University of Iowa professors improves higher education through smarter software.
Leepfrog develops tools purpose-built for U.S. colleges‘ arcane bureaucracies. Their marquee offering CourseLeaf helps institutions centralize cumbersome paper-based records into user-friendly digital systems.
CourseLeaf consolidates key campus data for easier access and analysis
Among CourseLeaf‘s popular capabilities:
- Catalog Management – Central course bank with descriptions, learning outcomes, credits
- Curriculum Mapping – Plan program objectives across classes and semesters
- Registration & Scheduling – Assign courses to terms/rooms and onboard students
- Syllabus Creation – Standardize syllabi organization across departments
This niche focus helps Leepfrog punch above its weight serving major state college systems. The University of Tennessee, Montana University System, and University of Hawaii utilize CourseLeaf campuses-wide to unshackle administrators from paper files.
Leepfrog‘s example demonstrates Iowa‘s hospitable environment nurturing startups with fourteen employees into $2 million ventures improving education globally. Not bad for an overlooked heartland state!
How exactly does digitizing course data make colleges more efficient?
Manual catalog administration eats $250,000 worth of staff hours yearly per campus according to Leepfrog client reports. CourseLeaf automates grunt work for better insight fast.
Additional Leaders & Legacy Companies
Here are more technology innovators and stalwarts who owe their origins or ongoing growth to Iowa‘s welcoming business climate:
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Involta – Data center operator managing 35 facilities providing server hosting, cloud services, and cybersecurity to enterprises globally. Founder Bruce Lehrman continues guiding the 275 employee firm from Cedar Rapids.
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RK Dixon – Davenport-based IT provider offering printers, scanners, managed services and custom software development employing over 180 Iowans. Founded by entrepreneurs Carla Dixon and Robert Dixon who still actively direct operations nearly 40 years later!
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PC Pitstop – Scanner software and PC optimization tools forged in Iowa help home users better maintain aging machines. Creator Rob Cheng oversees 30 staff driving $14 million in sales helping modernize old clunker computers.
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Gateway – Before fading away after the dot-com bust, this Sioux City startup encapsulated 1990s home computing with its cow-print boxes and clever ads. Visionaries Ted Waitt and Mike Hammond pioneered the direct-sales PC industry worth billions today.
This cross-section shows Iowa cultivating technology ventures both large and small…across aerospace, ag science, education, and more. Don‘t underest underestimate the Midwest‘s IT cred!
Conclusion – Iowa‘s Surprisingly Strong Technology Breadbasket
As this tour demonstrates, write off Iowa as just corn and cows at your own peril. Global brands like Collins Aerospace and fledgling startups like Dwolla prove agrarian stereotypes woefully incomplete when appraising Iowa‘s technology landscape today.
$10.7 billion in annual economic impact shows Iowa fertile territory on par with any coastal hub for launching influential tech firms according to assorted venture capital metrics. Hundreds of thousands of employees code, analyze data, and create innovations making life and business better worldwide thanks to Iowa‘s welcoming Midwestern climate.
So next time you use Workiva‘s cloud compliance tools, board a Collins flight control-equipped plane, or checked out with Dwolla..take an extra moment to admire the heartland magic which made it all possible! Iowa‘s inconspicuous fields mask booming IT factories driving substantial value above and beyond bushels per acre.
