Natalia Chi
The California-based company, which aims to diversify the class of tech workers, said Tuesday it hopes to open a training center in the Greater Grand Crossing on the South Side and employ 100 people within a year.
Bitwise Industries said it will operate at 7421 South Chicago Avenue with new funding of $80 million. A spokesman said Santiago Villegas said the approximately 6,000-square-foot facility is expected to be completed by his late April.
It will be a temporary storage place. Villegas said the company will look for larger homes in the same area.
Bitwise trains, pays, and places apprentices from what it calls “underrepresented” communities to work with local businesses, governments, and organizations. We offer services on Salesforce, DocuSign and other platforms.
The company’s latest funding includes support from Kapor Center, Motley Fool, Goldman Sachs Asset Management, and Citibank. It is also supported by P33, a non-profit organization based in Chicago.
The Chicago location is near the Comer Education Campus, which includes the College Prep High School, and works with the Comer Science and Education Foundation. Villegas did not know any details about the permanent location.
However, Comer Foundation project manager Emily Emmerman says she plans to include Bitwise in her organization as part of a workforce and wellness training hub called Xchange. The Foundation plans to build a hub on a vacant lot at 7301-69 South Chicago Avenue.
With the latest funding, Bitwise has raised more than $200 million, Villegas said. Bitwise has 10 locations in the US, 4 of which are in California, and he hopes to have 20 in the next few years. The company is not affiliated with Bitwise Asset Management, which offers crypto index funds.
Bitwise Industries co-CEO and co-founder Jake Soberal said the additional funding “will validate our model and allow us to deploy our proven approach to other parts of the country.” I’m here. “Bitwise is a transformative agent for cities and people, delivering unparalleled results for the technology industry, businesses, and the communities we serve.”
The company said it has trained more than 10,000 individuals who may not have thought of working in the tech sector.
Part of its mission is real estate development. The company has renovated over a million square feet of his vacant and dilapidated spaces in other cities.
“Bitwise has a track record of removing barriers that have prevented talented individuals from securing quality work in one of the fastest growing industries in the world. High-growth, high-paying jobs that enable schools and communities to thrive in the digital economy.”
