Denver – April 25, 2018 – Techtonic Group, a world-class software development services firm that operates a unique outsourced apprenticeship program aimed at closing skill and equity gaps in high-tech fields, today announced $2 million in its first round of funding, led by employment tech investor University Ventures, with participation from Zoma Capital.
Demand for software development jobs in the U.S. is continuing to accelerate, with recent estimates suggesting there will be as many as 1 million unfilled coding positions by 2020. At the same time, the technology industry is struggling with persistent diversity and equity gaps.
“Tech companies are beginning to recognize the importance of expanding the talent pool to more diverse candidates as both as socially responsible decision and a good business practice,” said Heather Terenzio, Founder and CEO of Techtonic Group. “But hiring norms, including degree requirements, can box-out the very talent that employers want and need. Our model offers a new paradigm by enabling our clients to build software with a leading firm while they are building a team based on skills and potential, rather than pedigree.”
Founded in 2006 to deliver high-quality software solutions, Techtonic Group offers the country’s first-ever Department of Labor registered apprenticeship provider for software development. In addition to providing software development services for startups and Fortune 1000 companies, Techtonic Group recruits and trains promising developers to connect its clients with proven entry-level talent. The firm’s clients can then hire Techtonic Group apprentices at no additional cost after 1,000 hours of work together. To date, more than thirty-percent of program participants have been female. Nearly half come from underrepresented minority backgrounds, and one quarter are veterans.
“In an industry that grapples with both pervasive skills gaps, and a troubling diversity challenge, Techtonic Group is pioneering a uniquely American solution: outsourced apprenticeships,” said Ryan Craig, managing partner of University Ventures and author of the forthcoming book, A New U: Faster + Cheaper Alternatives to College. “Techtonic Group’s outsourced apprenticeship model radically reduces hiring friction for employers and provides a pathway to great first digital jobs for Americans of all backgrounds.”
Techtonic Group works with a range of technology companies that rely on the firms both best-in-class development work and a proven pipeline of diverse entry-level, purpose-trained talent. Clients include Zayo Group, Well Wallet, Pivotal Software, and Misty Robotics.
“We’re passionate about identifying and supporting promising solutions that tackle pressing social challenges,” said Ben Walton, Co-Founder of Zoma Capital. “Techtonic Group’s approach recognizes the power of on-the-job training and relationship-building to not only equip individuals with in-demand skills, but also help them identify fulfilling career pathways for the long term.”
About Techtonic Group
Techtonic is world-class software development services firm with a unique outsourced apprenticeship model, providing clients with not only best-in-class development work, but also a proven pipeline of diverse entry-level purpose-trained talent.
About University Ventures
University Ventures (UV) is a private equity firm that is reimagining the future of higher education and creating new pathways from education to employment.
About Zoma Capital
Zoma Capital is the private family office of Ben and Lucy Ana Walton and seeks to invest in a broad range of market based sustainable solutions addressing environmental and social challenges. Its global investment portfolio spans multiple asset classes and sectors with an emphasis on workforce development, energy, and water.