Catalant Closes Series D Financing, Secures Additional $41M in Funding
Capital will fund continued development of leading platform for dynamic business talent
27 Jun, 2017, 07:51 ET
BOSTON, June 27, 2017 /PRNewswire/ -- Catalant Technologies, the leading technology platform for business expertise, announced today that it has secured an additional $41M of financing with its Series D funding round and an expansion of its existing debt facility, co-led by Highland Capital Partners and General Catalyst, with participation from Greylock Partners, GE Ventures, Mark Cuban, Intuit founder Scott Cook, former Bain Capital Managing Director Mark Nunnelly, the Kraft family, and Bob Doris of Accanto Partners. Square 1 continues to serve as the company's debt financing partner. This new capital brings Catalant's total financing to more than $73M.
Thousands of clients – including nearly one quarter of the Fortune 100 - leverage Catalant's suite of solutions to access business expertise and knowledge in real time. These companies have taken a more dynamic approach to matching talent with opportunity, whether it be from within their existing talent pools or provided by an independent expert, bespoke team of consultants, or boutique consulting firm. The company's platform rapidly identifies the correct resource for a given need, facilitating an agile and efficient approach to talent. Catalant's user base of experts has grown to more than 40,000 leading independent professionals and boutique consulting firms.
"We continue to see leading companies fundamentally rethink their approach to talent," said Rob Biederman, co-CEO and co-founder. "Sophisticated global enterprises have realized that dynamic access to the world's most innovative minds will be critical as their core offerings evolve and end markets become increasingly competitive."
"The company of the future will think differently about what it means to be a member of a 'team' working on business problems together. Team members won't just be the people that sit inside a company's walls or have a company email address. Companies will have access to the entire globe of talent and will find the best person to get the work done, when it needs to be done, regardless of where that person sits," added Patrick Petitti, co-CEO and co-founder."
Catalant's additional financing demonstrates further validation of the market's acceptance for a technology-driven, dynamic approach to talent that allows businesses to find the right skills and expertise, no matter where it sits. The funding will be used to further develop the company's best-in-class software products and matching capabilities, as well as to educate corporate decision makers on how best to incorporate dynamic talent into their strategic plans.
"Catalant is a transformational company led by one of the most impressive executive teams we have ever backed. The nature of work is changing rapidly and the Catalant technology platform is providing all kinds of enterprises with unique access to the world's best talent and unprecedented value. Highland is thrilled to join in leading this financing as the company continues to grow rapidly," said Dan Nova, Partner, Highland Capital Partners.
"The future of talent is being redefined and Catalant is at the forefront," said David Fialkow, co-founder and managing director, General Catalyst. "We are thrilled to support them on their mission to fundamentally change how work happens."
Catalant connects companies to talent and knowledge in real time. Catalant has built a global network of more than 40,000 experienced and independent consultants and boutique firms available to work with clients on a variety of business needs including research, strategy, marketing, finance, sales, operations and product initiatives. These experts combine with clients' internal talent to form dynamic talent pools accessed via a suite of software products. By serving enterprise clients when they need on-demand talent for a specific initiative, or to close a longer-term talent gap, Catalant is changing the way the world finds the best people for their company's needs, faster. Catalant leverages a blend of machine learning and human oversight for its matching process, ensuring clients are matched with people with the right skills, availability, and budget in mind. Based in Boston, Catalant serves thousands of global clients, including nearly one quarter of the Fortune 100. For more information, visit www.GoCatalant.com
SOURCE Catalant Technologies
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