Next-Generation IT Staffing Firm's Unique Talent Sourcing and Development Model to Be Accelerated Through University Partnerships
RESTON, VA--(Marketwired - Mar 7, 2016) - Today Revature announced its first external investment through a Series A round led by University Ventures and Eden Capital, with participation from USA Funds. An IT training and staffing firm focused on high-demand coding and software development professionals, Revature blends accelerated learning with labor market intelligence to provide job seekers with the skills and competencies required to succeed in the workforce.
Founded in 2003, Revature delivers coding and software development engineers to the Fortune 500, government organizations, and top systems integrators competing for tech talent. Unique to IT professional services organizations, the company's model incorporates free pre-hire training for candidates who meet aptitude benchmarks, allowing job seekers with or without any technology or computer science background to develop foundational coding skills and receive mentoring from seasoned professionals in one of the company's 22 enterprise-driven online training pathways.
"We are delighted to partner with University Ventures, Eden Capital and USA Funds to help our clients close critical skills gaps and help more job seekers reach their potential," said Srikanth Ramachandran, founder and CEO of Revature.
Revature's approach also requires that all candidates, regardless of their background, attend free intensive 10-week on-ground bootcamps, where they receive custom training on enterprise technologies required by employers, as well as key soft skills. Upon completion, candidates are hired by Revature and staffed at industry-leading clients. Revature currently employs over 500 software engineers, trained on high-demand enterprise technologies that are critical for client success.
"Revature's unique business model has great potential to not only close the IT skills gap, but transform how we train and place job candidates," said Dina Said, founder of Eden Capital. "With impressive and sustainable partnerships in place with leading corporations, Revature is well- positioned to scale quickly."
"Colleges and universities pride themselves on inculcating the critical thinking, problem solving and executive function skills that help students get their fifth job," said Ryan Craig, Managing Director at University Ventures. "But in today's job market, unless students get a good first job, the path to their fifth job is likely to be less successful. As a result, colleges and universities must focus on providing students with the hard skills employers are demanding for first jobs in the fastest growing sectors. This is exactly what Revature provides: no-risk pathways for college students to well-paid first jobs in the fastest growing sector of the economy."
"With students from over 600 universities placed or hired and nearly 1,000 more students currently engaged in Revature's training programs, the company is already significantly enhancing the return on students' investments in their college educations - at no additional cost to students, their families or their universities," said Bill Hansen, USA Funds president and CEO. "USA Funds looks forward to working with Revature to help tens of thousands of additional college students complete their degrees and jumpstart their careers."
Revature is a leading IT professional services firm with a unique approach to talent sourcing and training. Revature partners with top colleges and universities to provide students with no-risk pathways to high-value careers in coding and software development. While Revature's academic partners do the hard work of equipping students with the essential cognitive skills to become successful professionals, Revature's role is to provide students with state-of-the-art "last-mile" training at no cost and then a well-paid first job in coding and software development, setting them up for a range of exciting career options. Due in part to its talent development strategy, Revature successfully serves a wide range of Fortune 500 enterprises, government organizations and top systems integrators. Learn more at www.revature.com.
ABOUT UNIVERSITY VENTURES
University Ventures (UV) is the premier investment firm focused exclusively on the global higher education sector. UV pursues a differentiated strategy of 'innovation from within'. By partnering with top-tier universities and colleges, and then strategically directing private capital to develop programs of exceptional quality that address major economic and social needs, UV is setting new standards for student outcomes and advancing the development of the next generation of colleges and universities on a global scale. Learn more at www.universityventures.com.
ABOUT EDEN CAPITAL
Eden Capital is a sector-focused private equity firm backing leading management teams in education and financial services companies. The firm specializes in growing and investing in small- and medium-sized companies featuring proven, scalable business models, a profitable operating history and a sustainable competitive advantage. Eden Capital employs a flexible approach, investing through control, majority or substantial minority positions. With more than 40 years of international investment heritage, Eden Capital brings an entrepreneurial mindset, patient capital and a global perspective to every investment. Learn more at www.edencp.com.
ABOUT USA FUNDS
USA Funds is a nonprofit corporation that supports Completion With a Purpose, building a more purposeful path for America's students to and through college and on to rewarding careers and successful lives. USA Funds pursues its nonprofit mission through philanthropic activities and partnerships, policy research, and programs and services that enhance preparation for, access to and success in higher education. Learn more at www.usafunds.org.