Catalyte was featured in the 60 Minutes segment “Venture capitalist spreading funding to Middle America.” The segment focused on Steve Case, co-founder of Aol and chairman and CEO of Revolution, and his efforts to bring investment to overlooked regions of America.
Sharyn Alfonsi (correspondent): Typically how hard has it been for these guys out here to get the attention of capital?
Steve Case: Super hard. Super hard. Right now, 75 percent of venture capital goes to three states: California New York and Massachusetts… Most of the venture capital is on the coasts, not in the middle of the country and we just have to change that.
Catalyte was one of three Revolution’s Rise of the Rest portfolio companies that were in the segment. Correspondent Sharyn Alfonsi interviewed CEO Jacob Hsu about how the company is using artificial intelligence to identify people with aptitude for software development in Baltimore and across the country.
Jacob Hsu: Our people come from all walks of life. We have fast food workers, we have teachers, musicians, artists, truck drivers– security guards. We have people who come from all over, right into these, into these positions.
Catalyte is rapidly expanding and plans to open in 20 cities in the next two years.
Jacob Hsu: This isn’t kindergarten engineering; this is the real deal. We’re not doing it just for a charity, we’re doing it because we found a better way.
You can read more about Catalyte’s involvement with Rise of the Rest in this post from 2018. Watch our part of the 60 Minutes segment below.