Catalant Technologies, a US-based platform that enables companies to tap into the expertise of consultants, raised $41m on Tuesday from investors including GE Ventures, the corporate venturing arm of conglomerate General Electric.
The round is split into series D funding and an expansion of Catalant’s existing debt facility, though details of the ratio have not been revealed.
The equity portion was co-led by Highland Capital Partners and General Catalyst, with additional participation from Greylock Partners, the Kraft family and private investors including Mark Cuban. The debt financing was supplied by Square 1.
Catalant was formerly known as HourlyNerd, but rebranded in late July 2016. The company has developed a platform that connects businesses with a network of more than 40,000 consultants and boutique firms to assist with work such as research, strategy and operations.
The funding will support further development of Catalant’s software, and will also help market the platform to companies and help them understand how to best integrate into their processes.
Catalant has now raised more than $73m in total, it said. GE Ventures took part in a $22m series C round for the company in July 2016 that was led by General Catalyst and backed by Highland Capital, Greylock, Mark Cuban and individual investor Bob Doris.
GE Ventures had previously backed a $7.8m series B round in 2015 that included conglomerate Kraft Group, Highland Capital, Greylock, Suffolk Equity Partners and assorted angel investors.