Catalant

Catalant
Formerly
 HourlyNerd
Private
Industry Computer Software
Founded February 2013 (2013-02) (as HourlyNerd)
Boston, Massachusetts, U.S.
Founder Rob Biederman
Peter Maglathlin
Joe Miller
Patrick Petitti
Website http://www.gocatalant.com/

Catalant Technologies, Inc., formerly HourlyNerd,[1] provides global enterprises with software solutions to access business expertise on demand.[2]

Description

Catalant matches business expertise with enterprises for project-based work. Catalant's global network features more than 50,000 boutique firms, custom teams and independent experts, as well as software tools for engaging and managing this market.[3] From the Catalant platform, clients can post projects, receive bids, interview and select experts, track projects, and make payment all in the same place.[4] They can also collaborate with colleagues, as well as store and share project deliverables across their organization.

As of 2016, Catalant served 10% of Fortune 1000 companies,[5] including GE, Pfizer, and Staples.[6]

Catalant has two Co-CEOs: Rob Biederman and Patrick Petitti, both of whom were part of the founding team.[7]

History

Catalant launched in 2013 under the HourlyNerd brand as part of Harvard Business School's Field III course.[8][9] It was founded by Rob Biederman, Peter Maglathlin, Joe Miller, and Patrick Petitti.

In September 2013, HourlyNerd received $750,000 in seed money led by Mark Cuban.[10]

In March 2014, HourlyNerd announced its Series A financing round of $4M, led by Highland Capital Partners and Greylock Partners.[11][12]

In February 2015, HourlyNerd announced that it had raised $7.8MM in Series B funding, led by Highland Capital Partners, with participation from GE Ventures, Greylock Partners, Intuit founder Scott Cook, the Kraft Group, angel investor Semil Shah, former Etsy CEO Maria Thomas, Rent the Runway Founder/CEO Jennifer Hyman and Boston VC Suffolk Equity Partners.[13]

In July 2016, Catalant announced that it had raised $22MM in Series C funding, led by General Catalyst with participation from Highland Capital Partners, GE Ventures, Mark Cuban, Greylock Partners and Bob Doris of Accanto Partners. This new funding round brought the company's total amount raised to more than $33MM.[14]

This same month, the company announced that it had rebranded from HourlyNerd to Catalant. The parent company, Catalant Technologies, serves both large enterprises and small businesses.

In June 2017, Catalant announced that it raised $41M in Series D funding, 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.[15]

Catalant now offers customized software solutions for internal workforce management, serving major clients such as General Electric and Shell.[16]

References

  1. ↑ "HourlyNerd Rebrands as Catalant" (Press release). Catalant Technologies, Inc. Retrieved 26 July 2016 – via PR Newswire.
  2. ↑ Kauflin, Jeff. "Exclusive: Consulting Matchmaker Catalant Lands $41 Million In New Funding". Forbes. Retrieved 2018-03-21.
  3. ↑ "Catalant". Retrieved 26 July 2016.
  4. ↑ "Uber for MBAs is a worrying sign for knowledge workers everywhere". The Boston Globe. Retrieved 2016-06-09.
  5. ↑ "How HourlyNerd Is Leading the 'Uber Economy' in Boston". BostInno. Retrieved 2016-06-09.
  6. ↑ "HourlyNerd raises $22M for on-demand business experts". The Boston Globe. Retrieved 26 July 2016.
  7. ↑ "Catalant | Crunchbase". Crunchbase. Retrieved 2018-09-28.
  8. ↑ College Startup: Rend a Nerd with HourlyNerd, "Archived copy". Archived from the original on 2014-02-22. Retrieved 2014-05-23.
  9. ↑ Market Watch: HourlyNerd Raises Series B Investment, http://www.marketwatch.com/story/hourlynerd-raises-series-b-investment-2015-02-04
  10. ↑ NYT DealBook: Mark Cuban Invests in Start-Up to Connect Companies to M.B.A.s, http://dealbook.nytimes.com/2013/09/12/mark-cuban-invests-in-start-up-to-connect-companies-to-m-b-a-s/
  11. ↑ "Mark Cuban-backed HourlyNerd raises funding from Highland & Greylock". Retrieved 2018-03-21.
  12. ↑ Chapman, Lizette (2014-03-26). "Renting Harvard MBAs to Big Biz, HourlyNerd Raises $4M and Targets 'McKinsey Moms'". WSJ. Retrieved 2018-03-21.
  13. ↑ "HourlyNerd Raises $7.8M for Its Consulting Gig Marketplace". bostinno.streetwise.co. 4 February 2015. Retrieved 2018-05-10.
  14. ↑ "HourlyNerd Closes $22M in Series C Funding to Redefine How Talent Finds Opportunity" (Press release). HourlyNerd. Retrieved 26 July 2016 – via PR Newswire.
  15. ↑ "Catalant Closes Series D Financing, Secures Additional $41M in Funding" (Press release). Catalant Technologies. Retrieved 15 February 2018 – via PR Newswire.
  16. ↑ Schechner, Sam (2017-12-10). "Meet Your New Boss: An Algorithm". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-05-10.
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