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Company News : Catalyst DevWorks Receives $11.5M Funding
on 2016/3/8 9:33:31 (734 reads)
Company News

Catalyst DevWorks, the recognized leader in using data to enable higher performing and faster responding software engineering teams, has announced that it has closed on an investment of $11.5 million from Salem Investment Partners.

Catalyst leverages data and predictive analytics to hire and assemble software development teams, enabling the company to solve a critical business issue facing today’s enterprise: a lack of the necessary software engineering capabilities required to apply technology to core business strategy and quickly respond to changing markets. Catalyst gives enterprises the ability to deploy software engineering teams within 24 hours, and to dramatically reduce the time it takes to find and hire engineers.

The investment will further accelerate Catalyst’s growth. A pioneer in the use of data and predictive analytics to improve the productivity of outsourced software engineering teams, Catalyst grew revenue 87% in 2015, with 75% of its revenue coming from Fortune 500 companies. Catalyst’s growth reflects several trends: (1) the need for rapid response software engineering teams to build digital technologies that are transforming every industry and every enterprise, and (2) the application of big data and predictive analytics to transform markets like talent and technology services that have seen limited innovation for decades.

“Our typical client is a technology leader developing the capability to build technology core to their business strategy, whether that technology is part of a customer-facing product or a technology used to better understand user experience and behavior,” said Michael Rosenbaum, Catalyst DevWorks CEO. “As technology changes how every industry interacts with its customers, our clients need the ability to deploy engineering capabilities the next day. We give our clients the tools to do so. Our partnership with Salem Investment Partners will enable us to accelerate our pace of growth with investments in sales and marketing and to expand the capabilities of our core technology to provide even more value to our clients.” 

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