Catalant Technologies Raises $35 Million in Series E Funding to Fuel Enterprise Growth and Scale
BOSTON, Jan. 22, 2020 /PRNewswire/ -- Catalant Technologies today announced the close of $35 million of additional funding from its Series E equity round and expansion of its existing debt facility to scale its product offering and expand into new global markets. Catalant is a leading provider of software that helps companies effectively manage strategy execution.
Goldfinch Partners led the round, with new investments from Anheuser-Busch InBev's ZX Ventures, Salesforce Ventures, and SJF Ventures. New investors were joined by follow-on investments from General Catalyst, Highland Capital, GE Ventures, Bob Doris of Accanto Partners, former Bain Capital Managing Director Mark Nunnelly, and Mark Cuban. The round brings Catalant's total equity and debt funding to more than $100 million.
"We're thrilled to lead this round of investment in Catalant," said Bill McNichols, Managing Partner and co-founder of Goldfinch Partners. "We invest in companies and founders who are changing the way the world works, and Catalant exemplifies that. No other software delivers the same level of visibility into work happening inside companies, the value driven by the work, who's actually doing the work, and whether the people doing the work are engaged and productive."
Catalant was founded in 2013 as an online marketplace for companies to find consultants quickly and easily. Since then, Catalant has globally rolled out software and services for work planning, resource management, and insights and reporting. The system, in its Resources module, facilitates access to more than 65,000 independent experts and 1,000 consulting firms in 127 countries around the world.
Global organizations typically partner with Catalant to accelerate and enable strategic plan execution, centers of excellence, enterprise portfolio management of transformation workstreams, organizational redesigns, post-merger integrations, and agile transformations.
"Catalant helps provide operational clarity and faster, more effective allocation of the right resources to critical work that helps us grow and better serve our customers," said David Almeida, Chief People and Transformation Officer of Anheuser-Busch InBev, an early Catalant customer who helped shape its strategic roadmap and product offerings.
"Catalant has been a trusted partner of our company and we're happy to back a company that is helping organizations around the world move quicker," said Bernardo Novick, Head of ZX Ventures, the global growth and innovation group of AB InBev.
"We're fortunate that our evolution has been driven by partnering with many of the world's biggest brands on some of their most defining, difficult work," said Pat Petitti, co-founder and co-CEO of Catalant.
Rob Biederman, Catalant co-founder and co-CEO, added, "These same customers investing in us validates our platform's impact on their business objectives. We're proud to have driven meaningful, long-term partnerships with very sophisticated corporate leaders."
In addition to Anheuser-Busch InBev and GE, 30 percent of the Fortune 100 use Catalant’s software platform to accelerate and deliver pivotal corporate initiatives.
About Catalant
Catalant helps the world's leading organizations get from strategy to execution — fast. Trusted by more than 30 percent of the Fortune 100, the Catalant Platform enables business leaders to organize mission-critical work, access and deploy internal and external resources dynamically, and track the speed, quality, and impact of work. With built-in access to more than 65,000 independent experts and 1,000 boutique consulting firms, Catalant helps organizations fill critical gaps on high-priority projects.
Gartner recently named Catalant Technologies as a Cool Vendor that transforms talent to drive the digital workplace, and highlighted it in different categories across four Hype Cycle reports.
Angie Malerba (amalerba@gocatalant.com)
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