We recently discovered an unresolved radio source coincident with the ultraluminous X-ray source (ULX) IC 342 X-1. The radio emission and hard X-ray spectrum of the source suggest that it is a compact object accreting in the X-ray hard/radio loud state. This enables use of the fundamental plane relation, found valid for stellar to supermassive accreting black holes, to constrain the compact object mass to be near 104 solar masses. IC 342 X-1 has a redder optical spectrum than other ULXs and the optical emission may be dominated by a late-type supergiant companion star. We discuss radio, X-ray, and optical observations of IC 342 X-1 and their interpretation.