Security software provider EiQ Networks has leased 12,300 square feet at 60 State St. in Boston to accommodate its rapid expansion.

The choice of sixth-floor space in the Oxford Properties-owned tower was influenced by employee commuting patterns. Since EiQ moved to Boston last year, approximately 90 percent of its 50-person local workforce uses public transit, CEO Vijay Basani said.

EiQ was located in Acton for a decade before signing a five-year lease at 12 Post Office Square last year. EiQ hired 47 new employees last year, including 24 in Boston.

After receiving $9.55 million in series C financing from Arrowroot Capital in January, it plans to hire up to 50 additional employees in 2016, including approximately 25 in Boston.

Employees indicated they wanted to remain in the downtown area, Basani said. EiQ looked at more than 20 locations in Downtown Crossing and the Financial District.

“We wanted to be close to where we are right now, because all of the folks who work here like this area,” he said.

Central building security also factored into the decision given the nature of EiQ’s business, he said.

Jason Cameron of Newmark Grubb Knight Frank represented EiQ in the lease transaction.

Tower space is winning converts among tech companies expanding in downtown Boston. IT management platform Continuum signed a seven-year lease for 25,000 square feet on the 31st floor at 99 High St. as it moves ahead with plans to hire 200 employees over the next year.

And DataRobot recently subleased 31,113 square feet at One International Place from PayPal.

Security Software Startup Relocates To 60 State St. For Expansion

by Steve Adams time to read: 1 min
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