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Camden Partners leads $6M funding round for Techtonic

Boulder, Colorado-based Techtonic plans to expand its paid tech apprenticeship program with a fundraising round lead by a Baltimore private equity firm.

Inner Harbor-based private equity firm Camden Partners led a $6M Series B for Techtonic, the firms announced this week.

Boulder, Colorado-based Techtonic combines a focus on software development, as well as developing talent. The company offers software development services, and also runs a tech apprenticeship program.

The company’s apprenticeship program is certified by the U.S. Department of Labor, offering training in the fundamentals of software engineering to people who often don’t have a previous technical background. Those who take the classes are paid, and Techtonic CEO Heather Terenzio told Inc. earlier this year that 75% of students are minorities, women or veterans.

“Techtonic is a transformative company addressing the overwhelming demand for tech developers,” Jason Tagler, a partner at Camden Partners, who will join the Techtonic Board of Directors, said in a statement. “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.”

Techtonic characterizes the apprenticeship program as a talent generation source for the company’s clients. According to the company’s website, the program allows apprentices to work with clients on a project basis, then provides the option to retain them as full-time hires. CEO Heather Terenzio told Inc. earlier this year that 75% of the classes are made up of women, minorities, and veterans.

With the new funding round, which also included follow-on investment from University Ventures and Zoma Capital, the company is looking to expand the apprenticeship program beyond Colorado to new cities, a news release states.

The company is also aiming to invest in its employees, as well as sales and marketing initiatives, it said.

Series: Workforce Development Month 2019
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