Venture Capital News: PresenceLearning Grabs $25M
SAN FRANCISCO, CA, Growth equity firm Catalyst Investors led the recent $25 million Series C investment in PresenceLearning.
Existing investors Birchmere Ventures, Blue Heron Capital, Catamount Ventures, and New Markets Venture Partners also participated in the round. Catalyst Partner & Co-Founder Ryan McNally has joined the company's Board of Directors.
Founded in 2009, PresenceLearning addresses the growing shortage of speech language pathologists, occupational therapists, and behavioral and mental health service providers by connecting clinicians and students via its award-winning platform and marketplace. The company intends to continue its growth within these areas while also expanding into additional allied health fields and new user populations.
'Our mission is to make all kinds of online therapy practical, affordable, and convenient for everyone,' said Clay Whitehead, co-CEO of PresenceLearning. 'After starting with schools, where we are privileged to beneficially affect the lives of tens of thousands of children everyday, we are now expanding to hospitals and other places where people need professional care.'
'PresenceLearning has strong traction and is in an excellent position to grow and successfully scale,' said McNally. 'We look forward to partnering with management and applying our expertise in business management software, healthcare practice management, and marketplace businesses to help the company achieve its strategic objectives.'
'Catalyst shares our vision and is an ideal partner to help maximize our impact. The Catalyst team understands what it takes to build a successful marketplace and has the experience to help us scale and make a fundamental difference in the way healthcare and therapy services are delivered,' said Jack Lynch, co-CEO of PresenceLearning.
About Catalyst Investors
Catalyst Investors is a New York City-based growth equity firm focused on technology-enabled services including cloud computing, wireless infrastructure and digital media. Founded in 1999 and investing out of its $377 million fourth fund, Catalyst draws on deep sector expertise and an extensive network of industry leaders to work in true partnership with management to create long-term value. The firm makes both minority and majority investments of up to $60 million in rapidly growing companies. For more information, visit www.catalyst.com.
PresenceLearning is the leading provider of online speech and occupational therapy, behavioral and mental health services, special education academic instruction, and assessments for K-12 districts and families of children with special needs. PresenceLearning's nationwide network of online professionals and telehealth providers includes hundreds of highly qualified speech language pathologists, occupational therapists, special education teachers, and behavioral and mental health professionals. Treatment sessions are delivered 'anytime, anywhere' via live interactive video using the latest in evidence-based practices combined with powerful progress reporting. For more information, visit www.presencelearning.com.
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