NEW YORK and CHICAGO, Sept. 21, 2021 – Palladium Equity Partners, LLC (along with its affiliates, “Palladium”), one of the nation’s oldest minority-owned private equity firms with nearly $3 billion in assets under management, today announced that it has invested in Envoy Global, a mission-driven, tech-enabled global immigration services provider, alongside existing shareholders including Catalyst Investors and General Catalyst.
Envoy seeks to streamline the immigration process for employers and foreign nationals. It is one of the only workforce management platforms that combines proprietary technology and expert legal representation to make it possible for companies to hire and manage an international workforce. Envoy serves close to 1,000 customers in a broad range of industries, including the technology sector, with an emphasis on STEM workforce needs.
“We are excited to partner with Palladium as we continue on our mission to make it easier for people to work anywhere in the world,” said Dick Burke, President and Chief Executive Officer of Envoy. “Over the past 23 years, companies have relied on Envoy to simplify the sponsorship and management of work visas and green cards globally. We believe there is a substantial opportunity to continue to introduce new customers to our offering as well as expand our solutions for companies and employees. Palladium will be a close strategic partner to us as we move forward.”
Alex Funk, Principal at Palladium added, “Envoy’s mission strongly overlaps with Palladium’s heritage. Over Palladium’s nearly 25-year history, we have demonstrated that our team’s commitment to diversity is an important contributor to generating superior outcomes for all stakeholders. More than 70% of Palladium employees are minority or female, and many members of our team were born outside of the U.S. and personally recognize the impact of Envoy’s solutions, having experience with the U.S. immigration process themselves. We are thrilled to be partnering with Envoy, whose immigration solutions are mission critical to companies and empower people to work anywhere in the world. We are incredibly impressed with the business that Dick and his team have built, and we look forward to supporting Envoy in their next chapter of growth.”
Catalyst Investors and General Catalyst will both retain minority equity stakes in Envoy and continue to support the Company going forward.
David Orfao, Partner at General Catalyst said, “We have been very impressed with Envoy’s growth over the past six years, realized through investments in technology, sales and buildout of a top-tier management team.”
“Envoy is in the early innings of transforming an industry,” said Susan Bihler, Partner at Catalyst Investors and continuing Envoy board member. “We are excited to continue to be a part of the Company’s exciting growth story alongside Palladium.”
Raymond James served as financial advisor to Envoy on the transaction. Latham & Watkins, LLP served as Envoy’s legal advisor. Robert W. Baird & Co. served as the financial advisor for Palladium. O’Melveny & Myers served as the legal advisor and financing counsel for Palladium.
About Envoy Global
Founded in 1998, Envoy is a global immigration services provider with an international footprint, working across offices in APAC, EMEA and the Americas. Envoy offers the only immigration management platform that makes it seamless for companies to hire and manage an international workforce by combining expert legal representation — for both inbound and outbound immigration — and proprietary technology. Envoy empowers companies to acquire the best talent regardless of where they are in the world; helps mobilize employees around the world to take advantage of business opportunities; and enables the management of entire global workforces, providing a strategic, proactive view into workforce and financial forecasting and compliance. Envoy has managed more than 30,000 cases and served more than 2,000 customers in a broad range of industries.
Website, technology platform and administrative services are provided by Envoy Global Inc., a Delaware corporation. U.S. legal services are provided by two U.S. law firms — Global Immigration Associates, PC and Corporate Immigration Partners, LLP. Global immigration services are provided by Envoy or Envoy’s global immigration service providers. All U.S. legal and global immigration services are fully integrated with the Envoy Platform for a seamless customer experience. Please visit <a href=”https://www.envoyglobal.com/”>www.envoyglobal.com</a> for more information.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with nearly $3 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has made 38 platform investments and 141 add-on acquisitions.
Palladium is a signatory of the United Nations supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors committed to integrating environmental, social and governance (ESG) considerations into their investment decision making. For more information on Palladium, please visit Palladium Equity Partners, LLC.
About Catalyst Investors
Catalyst Investors is a growth equity firm based in New York. The firm’s mission is to earn superior returns by helping entrepreneurs build great companies. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue growth. Over the past 20 years, Catalyst has invested in companies across the SaaS, tech enabled services and digital infrastructure sectors, and has established a successful track record of partnering with entrepreneurs and helping companies scale. Recent investments and exits include Weave, BrightFarms, ChowNow, EDB, Effectual, Insite Wireless, PresenceLearning and Xplornet. For more information, visit www.catalyst.com.
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.