Baltimore tech entrepreneur Mike Rosenbaum exits Maryland governor’s race

After six months, entrepreneur Mike Rosenbaum is ending his campaign to become governor of Maryland.

The founder of Baltimore-based, workforce-focused tech companies Catalyte and Arena Analytics, Rosenbaum entered the 2022 Democratic primary in May with a focus on the kind of job and wealth creation that underlie his companies. This month, he debuted a TV ad, and released a detailed economic proposal focused on career training and growth that could help residents move into key growth industries, including tech.

The news of Rosenbaum’s exit from the race was first reported by Maryland Matters. A spokesperson said Rosenbaum wasn’t taking interviews Tuesday, but shared a statement in which Rosenbaum is planning to return to the private sector; further details weren’t available. Here’s the full statement:

“For more than 20 years I’ve dedicated my life’s work toward helping to create more pathways into the middle class and to ensure that more Marylanders and Americans can achieve economic security and dignity,” he wrote. “My campaign was launched around the vision that Maryland can and must do more to help Marylanders achieve economic security and become a model for how to rebuild our systems to enable every person to have dignity. I will continue to advocate for this vision, but at this time, I have concluded that a campaign for governor is not the most effective way forward in achieving the kind of change I believe is necessary for Maryland to thrive. Therefore, I have decided to end my campaign for governor and return to the private sector. As an entrepreneur, I’ll continue to champion my belief that we should not shy away from what is possible simply because it is difficult. I look forward to supporting whichever candidate ultimately becomes our nominee and offer my sincere gratitude to my staff, volunteers, and donors who supported our campaign.”

Rosenbaum founded the company that is now named Catalyte in 2000 after a stint as an economist in the Clinton White House. The company uses predictive analytics to identify promising software engineers, provides training and employs technologists on client projects. He later founded Arena Analytics, which uses AI to match talent for organizations and is designed to reduce bias in hiring.

The governor’s race will determine who will succeed Gov. Larry Hogan, who is term-limited in 2023. The Democratic primary is scheduled for June 28, 2022. Remaining candidates in the race include Comptroller Peter Franchot, entrepreneur and author Wes Moore, former Democratic National Committee Chairman Tom Perez, former US Secretary of Education John King, former PG County Executive Rushern Baker, former state Attorney General Doug Gansler, nonprofit exec Jon Baron and former Obama administration official Ashwani Jain.