Catalant Funding, Investors & Competitors

Catalant has raised $146M across 7 funding rounds, most recently a $35M Series F in March 2021.

Last Catalant funding round

$35M

Series F · Mar 2021

Cumulative funding Catalant raised

$146M

across 7 funding rounds

Key investors in Catalant

  • Accanto Partners
  • Highland Capital Partners
  • Greylock
  • Mark Cuban
  • GE Ventures
  • General Catalyst
  • Scott Cook
  • Salesforce Ventures

Catalant Overview

About Catalant

Catalant is a Boston-headquartered software platform connecting enterprises to on-demand business experts. It facilitates strategy execution by matching projects with boutique firms and independents, offering tools for objective alignment, resource deployment, collaboration, and performance measurement for global clients.


Founded

2013

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Services, Subscription

Catalant Funding History

Catalant has raised a total of $146M across 7 funding rounds.

Catalant's first fundraising round was a $800K seed round in September 2013. The most recent completed round was a $35M Series F in March 2021.

Catalant funding rounds

Catalant funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2021Series FMorningside (lead)$35MCatalant Technologies, originally launched in 2013 as HourlyNerd, operates an Expert Marketplace connecting companies with over 70,000 independent experts and 1,000 boutique consultancies for strategic projects in areas like supply chain, corporate strategy, digital marketing, data analytics, and program management. The platform offers a faster, more cost-effective alternative to traditional consulting firms, serving more than 35% of the Fortune 1000 and seven of the top 10 private equity firms by assets under management. In 2020, Catalant launched a SaaS platform to manage strategic project portfolios, amid record returns driven by freelance demand. On March 30, 2021, Catalant closed a $35 million investment led by Morningside Group, bringing total funding over $100 million. This followed a $35 million Series E in January 2020 led by Goldfinch Partners with participants including ZX Ventures, Salesforce Ventures, General Catalyst, Highland Capital, Mark Cuban, and others, and a $41 million Series D in 2017. Morningside cited Catalant's ability to bridge talent gaps exacerbated by 2020 events, enabling flexible access to expertise without overpaying for rigid consulting solutions. The funding aims to capitalize on market growth in the freelance economy, where businesses seek on-demand high-end talent. Prior rounds included a $22 million Series C in 2016 led by General Catalyst, $7.8 million Series B in 2015, and earlier investments from GE Ventures, Greylock, Kraft Group, and angels.
Jan 2020Series EGoldfinch Partners (lead); Salesforce Ventures; General Catalyst; SJF Ventures; Highland Capital Partners; AB InBev; Mark Cuban; Accanto Partners; GE Ventures; Tectonic Ventures; ZX Ventures$35MCatalant Technologies, a Boston-based software and consultant matching firm, announced the close of $35 million in Series E funding on January 22, 2020. The round was led by Goldfinch Partners with new investments from Anheuser-Busch InBev's ZX Ventures, Salesforce Ventures, SJF Ventures, and Tectonic Ventures. Follow-on investors included General Catalyst, Highland Capital, GE Ventures, Bob Doris of Accanto Partners, former Bain Capital Managing Director Mark Nunnelly, and Mark Cuban. The round brought Catalant's total equity and debt funding to over $100 million. Catalant is a leading provider of software that helps companies effectively manage strategy execution, with global organizations using the platform to accelerate strategic plan execution, enterprise portfolio management, transformation workstreams, organizational redesigns, post-merger integrations, and agile transformations. As of the round date, 30 percent of the Fortune 100 and over 35 percent of the Fortune 1000 were using Catalant's software platform. In 2020, Catalant launched its SaaS Platform to enable companies to better manage their strategic project portfolios. The company's customers include seven of the top 10 private equity firms by assets under management, with notable enterprise customers like Anheuser-Busch InBev and GE serving as early adopters who helped shape the product roadmap.
Jun 2017Series DGeneral Catalyst (lead); Highland Capital Partners (lead); Mark Donnelly; Mark Cuban; Accanto Partners; GE Ventures; Greylock; Scott Cook$41MCatalant Technologies, a Boston-based platform formerly known as HourlyNerd, connects companies with over 40,000 independent consultants and boutique firms for on-demand expertise in areas like research, strategy, marketing, finance, sales, operations, and product initiatives. The platform uses machine learning and algorithms to match clients with professionals based on project details, resumes, proposed prices, star ratings, and profile viewing times, enabling tailored matchmaking to complement internal teams or fill talent gaps, particularly for small and mid-sized enterprises. In June 2017, Catalant closed its Series D funding round by securing an additional $41 million, led by General Catalyst and Highland Capital Partners, with participation from Accanto Partners, GE Ventures, Greylock, Mark Cuban, Mark Donnelly, and Scott Cook. This brought the company's total funding to over $73 million, including an expansion of its existing debt facility. The fresh capital was earmarked for boosting marketing efforts, R&D in software and matching technology, hiring (with 70 of 150 employees in sales and 130 total at the Seaport office), and developing new applications for managing internal resources. Catalant planned to grow its network and enhance its marketplace amid rising competition in on-demand consulting, similar to BCG's stake in Opportunity Network.
Jul 2016Series CGeneral Catalyst (lead); Highland Capital Partners; Mark Cuban; Accanto Partners; GE Ventures; Greylock$22MCatalant Technologies, originally launched in 2013 as HourlyNerd, is a Boston-based platform connecting companies with independent consultants and boutique firms for on-demand expertise. It rebranded to Catalant and expanded into software for work planning, resource management, and project portfolio management, including a SaaS platform launched in 2020. The company serves over 35% of Fortune 1000 clients and more than 70,000 experts. The specified 2016 funding round around May 7 matches a Series C referenced in sources with investors including GE Ventures, General Catalyst, Highland Capital, Greylock Partners, and Mark Cuban. General Catalyst is noted as a lead or key participant. Subsequent rounds include a $41 million Series D in 2017 co-led by Highland Capital Partners and General Catalyst with participation from Greylock, GE Ventures, and Mark Cuban, and a $35 million Series E on January 22, 2020, with similar investors including Accanto Partners' Bob Doris. Catalant's total funding exceeds $100 million by 2021 after a $35 million investment led by Morningside Group. The platform competes in the consultant marketplace, offering flexibility and cost savings over traditional firms, with clients like DuPont praising its speed and results.
Feb 2015Series BHighland Capital Partners (lead); Maria Thomas; Jennifer Hyman; Suffolk Equity Partners; Accanto Partners; GE Ventures; Greylock; Scott Cook$8MCatalant raised $7.8 million in a funding round on April 2, 2015, from investors including Highland Capital Partners, GE Ventures, and Greylock Partners. This appears to be an early-stage round for the Boston-based company providing an online marketplace for consultants.
Mar 2014Series AHighland Capital Partners; TriplePoint Ventures; Accanto Partners; Greylock$4M-
Sep 2013SeedMark Cuban; Accanto Partners$800K-

Who has invested in Catalant?

19 investors have backed Catalant across its funding rounds, including Accanto Partners, Highland Capital Partners, Greylock, Mark Cuban, GE Ventures and General Catalyst.

Lead investors include Morningside, Goldfinch Partners, General Catalyst and Highland Capital Partners.


Catalant Investors

Investors in Catalant by funding rounds participated
InvestorHQRoundsRoleFirst check
Accanto PartnersUnited StatesSan Francisco, CA6ParticipantSep 2013
Highland Capital PartnersUnited StatesLexington, KY5LeadMar 2014
Mark CubanUnited StatesDallas, TX4ParticipantSep 2013
GE VenturesUnited StatesMenlo Park4ParticipantFeb 2015
GreylockUnited StatesSan Francisco, CA4ParticipantMar 2014
General CatalystUnited StatesSan Francisco, CA3LeadJul 2016
Scott CookUnited StatesSan Francisco, CA2ParticipantFeb 2015
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantJan 2020
SJF VenturesUnited StatesDurham, NC1ParticipantJan 2020
Mark DonnellyUnited StatesChicago, IL1ParticipantJun 2017
Goldfinch PartnersUnited StatesSeattle, WA1LeadJan 2020
Maria ThomasUnited StatesWashington, DC1ParticipantFeb 2015
Jennifer HymanUnited StatesNew York City, NY1ParticipantFeb 2015

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Catalant Competitors

Catalant competitors include listed companies like Constellation Software and Copart, and private ones like Zetwerk, Jusda, Tradeshift and XINGYUN GROUP.

Public and private companies comparable to Catalant
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ZetwerkIndiaBangalorePrivate$102M$20M$3.1B-
JusdaChinaShenzhenPrivate--$2.5B-
TradeshiftUnited StatesSan Francisco, CAPrivate$100M-$2B-
XINGYUN GROUPChinaShenzhenPrivate--$2B-
Constellation SoftwareCanadaCanadaPublicly listed$12B$2.5B$43B3.5x
CopartUnited StatesUnited StatesPublicly listed$4.6B$1.9B$27B4.9x

Catalant Public Comps

Catalant is still privately-owned, but its public comps include Recruit Holdings, Uber, Booking Holdings, Accenture, Airbnb, Prosus, DoorDash, Carvana, Meituan and Constellation Software.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Recruit Holdings$24B$4B6.4x6.0x37.9x25.2x
Uber$52B$6.2B3.0x2.8x24.9x14.6x
Booking Holdings$27B$8.3B4.9x4.6x15.9x12.4x
Accenture$70B$12B1.7x1.6x10.1x8.4x
Airbnb$12B$2.4B7.2x6.5x36.3x18.2x
Prosus$9.7B$1.1B9.1x8.0x83.8x123.7x
DoorDash$14B$1.5B6.0x4.9x55.8x23.7x
Carvana$20B($110M)3.7x2.9x(691.4x)27.7x

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Common questions about Catalant

When was Catalant founded?Catalant was founded in 2013.
Where is Catalant headquartered?Catalant is headquartered in Boston, MA, United States.
Is Catalant publicly listed?No, Catalant is a private, VC-backed company.
How much funding has Catalant raised?Catalant has raised $146M across 7 funding rounds.
What was Catalant's last funding round?Catalant's last funding round was a $35M Series F in March 2021, led by Morningside.
Who are Catalant's investors?Catalant's investors include Accanto Partners, Highland Capital Partners, Mark Cuban, GE Ventures, Greylock, General Catalyst, Scott Cook, Salesforce Ventures, SJF Ventures, Mark Donnelly and 9 others.
Which companies are comparable to Catalant?Companies comparable to Catalant include Zetwerk, Jusda, Tradeshift, XINGYUN GROUP, Constellation Software and Copart.

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