Founded in 2000 and led by CEO Matthew Derella, Catalyte is based in Baltimore, MD. The company offers an AI-powered, end-to-end reskilling platform that leverages 500+ data points to continuously refine talent discovery, development and deployment. It runs apprenticeship programs in software development, sales, digital media, cybersecurity, IT services and project management. Catalyte delivers day-one-ready talent to employers and has placed talent at Nike, GroupM, the State of Maryland and USA Swimming. The platform serves private and public sector organizations aiming to de-risk hiring, increase productivity, lower costs and drive sustainable diversity. The company intends to use new funding to accelerate growth of its apprenticeship programs. Catalyte is a Baltimore-based software engineering services company that applies proprietary AI and predictive analytics to identify and train talented individuals often overlooked by resume- and degree-focused hiring. The company provides career opportunities to people from diverse backgrounds while supplying software development services to Fortune 500 clients. Led by CEO Jacob Hsu, Catalyte uses its tech-driven hiring and training model to build teams of software developers. In February 2018 Catalyte raised $27M in a Series A round from investors including Revolution’s Rise of The Rest Seed Fund, Cross Culture Ventures, Expon Capital, and Palm Drive Capital. The company also acquired software development and consulting firm Surge to augment its delivery capabilities. Catalyte plans to use the Series A proceeds to expand its business reach by opening development centers in new cities in 2018. Catalyst DevWorks applies data and predictive analytics to assemble outsourced agile software engineering teams and offers a cloud-based Talent Platform for clients. Its core product enables enterprises to deploy engineering teams within 24 hours and, per company-shared data, improves development productivity by 77% and quality by 55% while costing roughly one-third of tier-one offshore providers. The Talent Platform is available for licensing as a hosted service to qualified clients. Catalyst reported 87% revenue growth in 2015, with 75% of revenue coming from Fortune 500 customers. The company plans to invest the new capital in sales and marketing, accelerate technologist hiring, and continue evolving its platform for both internal use and client licensing.

Total raised

$40M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2023