Venture Capital News: Techtonic Raises $6M in Series B Funding
BOULDER, CO, Techtonic has secured $6 Million in Series B funding led by Camden Partners.
Techtonic, the premier onshore provider of product-driven custom software development and a pioneer in apprenticeship talent generation, has secured $6 Million in Series B funding led by Camden Partners, with follow-on investments from University Ventures and Zoma Capital. This investment will expand the growth of Techtonic's onshore software development and software apprenticeship offerings across the United States.
This investment comes as a result of significant growth over the last 18 months for Techtonic, who continues to add new clients to their growing list of partners who need software services and a reliable talent pipeline. The investment will also be used for the expansion of the Techtonic Apprenticeship Program outside of Colorado and into several new cities. With the need for quality software engineers growing at a substantial rate, funding by Camden will allow Techtonic to invest in employees, sales & marketing initiatives and further expand the Techtonic Apprenticeship Program across the country.
"This is an exciting time for Techtonic," said Heather Terenzio, CEO of Techtonic. "We are changing the way companies build their software and think about talent generation. We have built a business model that is a rare win-win-win for our clients, our employees and Techtonic. We are very excited for this next phase of our growth and our partnership with Camden Partners."
"Techtonic is a transformative company addressing the overwhelming demand for tech developers," commented Jason Tagler, Partner at Camden Partners, who will join the Techtonic Board of Directors. "We are pleased to partner with Techtonic to accelerate growth on a national level as the need for talent development plays a key role when it comes to a rapidly evolving tech workforce."
As companies across the United States look to bring development back onshore, the need for skilled engineers will continue to grow. This demand, combined with an ever-increasing need for quality application development across virtually every industry, has created a significant market shift. Moving forward, Techtonic is excited to lead the way in evolving how progressive companies source, teach and develop software and software engineers for tomorrow's business demands.
Founded in 2006, Techtonic is the premier partner for developing onshore, product-driven software. In 2012, we pioneered a way to close the talent gap by creating the Techtonic Apprenticeship, a fully accredited program registered by the United States Department of Labor. We provide our clients with high-quality software development services while also serving as their talent generation partners through our unique service-to-talent pipeline model. Techtonic is based in Boulder, Colorado and is backed by Camden Partners, University Ventures, Zoma Capital, and Yucatan Rock Ventures. For more information, please visit www.techtonic.com.
About Camden Partners
Camden Partners is a multi-strategy private equity firm based in Baltimore, MD. Founded in 1995, the firm focuses on both growth and seed stage investments. Camden Partners' growth strategy leverages domain expertise in the technology-enabled business services, education and healthcare services sectors to turn lower middle market companies in these sectors into market leaders.
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