US-based consulting services marketplace Catalant Technologies received $35m in funding on Wednesday from investors including beverage producer Anheuser-Busch InBev, enterprise software producer Salesforce and industrial technology conglomerate General Electric.
Investment firm Goldfinch Partners led the round, which included venture capital firms SJF Ventures, General Catalyst and Highland Capital as well as private investors Bob Doris, Mark Nunnelly and Mark Cuban. It involved series E equity funding and an expansion of Catalant’s existing debt facility.
Anheuser-Busch InBev, Salesforce and General Electric took part in the round through corporate venturing vehicles ZX Ventures, Salesforce Ventures and GE Ventures respectively.
Founded in 2013 as HourlyNerd, Catalant operates an online marketplace where enterprise clients can connect with more than 65,000 independent consultants and 1,000 consultancy firms.
The company also offers software and services that facilitate resource management, work planning, insights and reporting. The cash injection will help it enter additional markets and scale its offering.
Bernardo Novick, head of ZX Ventures, said: “Catalant has been a trusted partner of our company and we are happy to back a company that is helping organisations around the world move quicker.”
Catalant has now raised a total of $108m in equity and debt financing. It secured $41m in a 2017 round featuring equity funding from GE Ventures, Highland Capital, General Catalyst, Greylock Partners, the Kraft family and private investors including Mark Cuban, while financial services provider Square 1 supplied the debt financing.
General Catalyst had led the company’s $22m series C round in 2016, investing together with GE Ventures, Highland Capital, Greylock, Cuban and Bob Doris.
GE Ventures also backed a $7.8m series B round the year before, alongside conglomerate Kraft Group, Highland, Greylock, Suffolk Equity Partners and several angel investors.
