Major news at Catalyst today: The company announced that FTV Capital has acquired a significant stake in Catalyst, investing a total of $32 million.

FTV Capital is a multi-stage growth equity firm that invests in high-growth companies offering a range of innovative solutions in business services, financial services, payments and transaction processing, and technology. FTV Capital provides entrepreneurs with unique access to its Global Partner Network, a group of the world’s foremost financial institutions that have invested in FTV Capital and its portfolio companies for more than a decade. Founded in 1998, FTV Capital has more than $1 billion across three funds, and has offices in San Francisco and New York.

“We are highly enthusiastic about partnering with Catalyst, given the significant achievements and momentum of this company, “said Eric Byunn, FTV partner and new Catalyst board member. “Catalyst’s long-tenured, proven management team has built a differentiated, proprietary technology offering that has attracted an impressive client base of blue chip companies and large law firms. Global demand for e-discovery is huge and growing rapidly, and Catalyst is well-positioned to capitalize on this multi-billion dollar market.”

“FTV’s new investment represents a powerful endorsement of Catalyst’s accomplishments and strong outlook, bolstered by the continued support from our initial investors, who have retained a stake in the company,” said John Tredennick, CEO of Catalyst. “FTV brings domain expertise and a strong network of industry contacts which will help contribute to Catalyst’s continued strong growth, especially as we expand into new markets.”

“We have worked with this management team since our initial investment in 2005 and are proud of the growth Catalyst has achieved,” said Tyler Newton, a partner at Catalyst Investors and former Catalyst board member. “Management’s vision and the company’s capabilities will enable it to continue to attract enterprises and law firms worldwide who are looking for an e-discovery solution with speed, scalability and features that attack complex legal issues.” Catalyst Investors is selling the majority of its ownership in Catalyst in conjunction with this transaction.

Read the full announcement here or download the PDF version.