Bitwise Industries, a tech service provider that invests in tech real estate, runs apprentice programs for marginalized communities, and sells managed tech services, has raised $80 million in a funding round led by existing investors Kapor Center and Motley Fool, bringing its total funding to $180 million. The latest investment valued the tech hub creator at over $600 million from a $200 million valuation in early 2021. Bitwise Industries supports the training of over 10,000 individuals, with 80% of them receiving technical employment, and aims to grow its training hubs into Chicago’s South Side this year.
Bitwise Industries has raised $80 million in a funding round led by existing investors Kapor Center and Motley Fool, with participation from Goldman Sachs Asset Management and Citibank. This latest investment valued the tech hub creator at over $600 million, from a $200 million valuation in early 2021. The company’s total funding has now reached $180 million.
Bitwise Industries has reportedly doubled its revenue in 2022, generating $40 million in 2020. The company runs apprentice programs for marginalized communities, invests in tech real estate, and sells managed tech services to government and traditional businesses. It aims to grow its training hubs into Chicago’s South Side this year. Bitwise Industries has supported the training of over 10,000 individuals, 80% of whom have received technical employment. The training program, supported by government workforce upskill funding and tech corporate funding, usually takes about 12-18 months to complete.
Founded in Fresno, California by Irma Olguin Jr and Jake Soberal in 2013, Bitwise Industries invests in tech real estate and runs apprentice programs for marginalized communities. The company has expanded its training hubs into 10 cities across the United States, including Toledo, Ohio, and Bakersfield, California. Half of its apprentices are female and about 20% are Black. Bitwise Industries aims to train its own talent pool and views itself as a value-added consulting firm akin to Accenture.
Bitwise Industries, a tech service provider that invests in tech real estate, runs apprentice programs for marginalized communities, and sells managed tech services, has raised $80 million in a funding round led by existing investors Kapor Center and Motley Fool, bringing its total funding to $180 million. The latest investment valued the tech hub creator at over $600 million from a $200 million valuation in early 2021. The company has doubled its revenue in 2022 and has supported the training of over 10,000 individuals, 80% of whom have received technical employment. The training program, supported by government workforce upskill funding and tech corporate funding, usually takes about 12-18 months to complete.
