Migration has been a delicate issue as of late, but the increased concentration has been useful for business at Envoy Global. The innovation pioneer in worldwide immigration and workforce administration raised $21 million in Series C financing, driven by growth equity firm Catalyst Investors. Existing investor General Catalyst took an interest as well. The new capital will grow Envoy’s go-to-market endeavors and improve its worldwide immigration services and software platforms.
The Chicago organization, once called VisaNow, enables businesses to manage migration issues, fundamentally taking care of documentation and different prerequisites important to oversee visa applications for representatives. In conjunction with the financing, Susan Bihler of Catalyst Investors joined Envoy’s Board of Directors. She said, “Envoy is simplifying an outdated and cumbersome process with a robust software product that enables the delivery of more efficient, cost-effective and transparent services for Envoy’s clients. We look forward to partnering with Envoy’s talented management team to help the company continue its notable growth trajectory.”
“Foreign-born workers have grown from 12 percent of the U.S. STEM workforce to close to 25 percent, underscoring the criticality of a comprehensive workforce management solution. Some of the world’s biggest companies rely on Envoy, not only because our platform helps to navigate the complex immigration process, but because they see tremendous value in our dedication to continued innovation and customer satisfaction,” said Dick Burke, president and CEO of Envoy. “We’ve made great progress in the past year – we launched our updated platform with expanded global capabilities and evolved our service offering– and we are seeing record growth as a result. Catalyst Investors is an ideal partner to help us expand further, given the team’s extensive experience with SaaS and services businesses and their domain expertise in the enterprise and HR markets.”
The organization has handled more than 30,000 cases, and served more than 2,000 clients in a wide scope of businesses including Enova, Grubhub, and CBS Interactive. “We’re winning more customers, and we’re seeing an expansion of wallet share with our current customer base,” Burke says. Envoy is the second big Chicago-area investment for Catalyst Investors. It also invested $41 million in Rosemont-based Fusion Risk Management in June.