Funding will fuel talent development and deployment for private and public sector clients
BALTIMORE, Sept. 18, 2023 /PRNewswire-PRWeb/ -- Catalyte has announced it closed $1.5M in funding from Green Street Impact Partners, a leading ed-tech private equity fund. This is in addition to the $1.5M that company secured in July 2023. Catalyte will use the investment to accelerate the growth of its apprenticeship programs, which deliver highly-vetted talent to employers, helping both private and public sector organizations de-risk their hiring processes, increase productivity, lower costs and drive sustainable diversity.
Founded in 2000, Catalyte has amassed nearly 25 years worth of real-world data on employee performance. It leverages that data to continuously refine its AI-powered, end-to-end reskilling platform to discover, develop and deploy high-potential talent into new careers, regardless of their background. This helps to dismantle the inequities of traditional hiring practices, giving more people the opportunity for family-advancing careers, while providing employers high-quality talent they can't source through traditional methods.
"To have a partner like Green Street Impact Partners on board with us is spectacular," said Matthew Derella, CEO of Catalyte. "They understand exactly what we're trying to do and have the deep institutional knowledge to help us actualize our vision and capitalize on important growth sectors. We look forward to working with them to continue building Catalyte into a clear market leader."
Catalyte has delivered day-one-ready talent to such notable organizations as Nike, GroupM, the State of Maryland and USA Swimming. Its apprenticeship programs transform the lives of people like Michelle and help employers boost their bottom line and top-line culture. It currently offers apprenticeship programs in software development, sales, digital media, cyber security, IT services and project management.
"For two decades, Catalyte has been a leader in talent and workforce development," said Calvin Young, general partner, Green Street Impact Partners. "It is a company I have known for many years. I'm very excited about the vision for the company under new CEO Matthew Derella and we look forward to bringing our ed-tech sector focused knowledge to bear to support the acceleration of growth at this AI-powered company."
About Catalyte
Catalyte has redefined hiring. Its proprietary AI uses 500+ data points to unbiasedly discover and develop high-potential talent. By elevating aptitude over pedigree, Catalyte deploys a workforce that looks like America and that helps its clients boost productivity, quality and diversity metrics. By giving high-grit, high-aptitude talent the opportunity to launch new careers, Catalyte transforms individuals, companies and communities. For more information, visit www.catalyte.io.
About Green Street Impact Partners
Green Street Impact Partners is a sector-specific private equity fund that invests growth capital in companies leveraging technologies to catalyze innovation across the education lifecycle, from K-12, to higher education, to workforce learning. As experienced investors and operators–including former policymakers, educators, and college leaders–our focus is the intersection of learning and economic mobility. For more information, visit https://gsimpactpartners.com/.
Media Contact
Adam Curtis, Catalyte, 1 410.385.2500 1033, [email protected], www.catalyte.io
SOURCE Catalyte
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