HourlyNerd Rebrands as Catalant, Continues Metamorphosis as a Unique Enterprise Talent Platform

Catalant

HourlyNerd, a work intermediation platform (WIP) that enables enterprises to access highly qualified freelance business talent, has announced it is rebranding to Catalant. The announcement comes on the heels of the company receiving $22 million in private equity funding earlier this month.

The “new name — a combination of catalyst, brilliant and talent — reflects the company’s leading role in redefining how enterprises access top talent to solve critical challenges,” the company said in a press release — not the least of which is actually sourcing qualified talent.  

Re-aligning Talent Supply and Demand

Citing the growing talent gaps in organizations and the trend of expert professional talent toward independent work arrangements, Catalant co-founder and co-CEO Rob Biederman noted that the “freelance economy’s rapid growth is forcing a new conversation between global enterprises and top talent” and driving businesses to learn “how to successfully incorporate the freelance model into their day-to-day operations.”

Accordingly, the press release describes Catalant as a platform-based solution that “allows global organizations, such as General Electric and Pfizer, to centralize the process of sourcing independent talent by giving business leaders direct and immediate access to Catalant’s network of more than 27,000 experts,” teams and boutique firms. The press release also describes how algorithms, driven by machine learning processes, enable the matching of the right expert for a project within minutes of business user uploading an RFP. The platform, it is reported, stores information (requirements, projects and experts) that can be shared and leveraged across an entire organization to enable fast and efficient sourcing of the right expertise for new projects.

“We are rapidly defining a new market category,” Patrick Petitti, fellow co-founder and co-CEO at Catalant, said. “For the first time, businesses are using a unified (internal, external, knowledge) approach to solve problems and capitalize on opportunities. With Catalant, they can access the exact expertise or knowledge needed in real-time.”

While the rebranding to Catalant signifies the company’s ongoing metamorphosis from an online freelancer marketplace to a unique enterprise sourcing, engagement and talent integration platform that optimizes connection with and utilization of top-tier freelance business expertise, the press release also notes that “the company’s small business offering will continue to operate under the name “HourlyNerd powered by Catalant.”

Spend Matters Take

We have been following the company for some time observing its evolution. In 2015, we observed some of the signs of an emerging strategy to not simply act as an open marketplace but to provide a unique, platform-based solution that would enable enterprises to optimize their utilization of top-tier, freelancer business expertise. Moreover, the platform allows enterprises to engage expertise, whether sourced as an individual freelancer, a team or a boutique consulting business.  

Notably, Catalant is not only a source-to-pay platform, with its own vetted “supplier network.” It is also a platform that incorporates analytics, machine learning and algorithms to optimize each enterprise’s unique connections to and ways of utilizing the required talent and expertise specifically relevant to the organization.

We have been continuously pointing out to contingent workforce management and services procurement practitioners that the emergence of new platform-based talent services suppliers is not far off on the horizon but much closer to home. It is within this context that Catalan should be considered.

For more information on Catalant, please visit gocatalant.com.

Please follow Andrew Karpie on Twitter @andrewkarpie. Read more of our contingent workforce and services procurement coverage.

Discuss this:

Your email address will not be published. Required fields are marked *