CEO Jacob Hsu talked to Jonathan Shieber at TechCrunch about the launch of the Odyssey talent transformation platform and its ability to discover, train and advance workers to bridge the tech talent gap. You can read an excerpt from the piece below, and find the full column here.
“We’re taking people from all walks of life,” says Hsu. “The average salary is $25,000 for people who have come in to the program… But within five years from working with the company, the average salary is $98,000.”
It’s this kind of narrative, and the company’s solid revenue that attracted investors like Steve Case, who’s backing Catalyte through his $150 million Rise of the Rest Seed Fund.
In 2018, Catalyte raised roughly $27 million in a round of funding from Palm Drive Capital, Cross Culture ventures, Expon Capital, and the Rise of the Rest Seed Fund.
The relatively novel approach to training and hiring (with some of the company’s recruits even coming in through Craigslist ads that pitch getting paid for learning to code) has netted Catalyte some impressive statistics when it comes to the diversity of its workforce — another important criteria for Case’s Rise of the Rest fund.