Springboard, a mentor-guided online learning platform that prepares people for in-demand careers, raised $31 million in Series B funding which was led by Telstra Ventures. This has increased the platform’s total capital to more than $50 million.
The online learning platform launched India as its first geography outside the United States in 2019. Springboard has placed its learners in Fortune 500 and world-renowned companies such as Samsung, Visa, Salesforce, Cisco, and Linkedln.
The latest round of capital will enable Springboard to double down on student employability in response to the current job market in India and globally, by creating new hiring-focused products and strengthening employer partnerships to help graduates land their dream careers. The new capital infusion will help Springboard build several innovative tools for India and global markets, with the likes of Hireability Forecaster, Springboard Introductions and Student-Job Fit Recommender.
India is witnessing one of its toughest challenges owing to the recent job losses that have impacted a large section of the workforce, said Parul Gupta, co-founder Springboard. “Our remote-first, mentor-guided model is uniquely positioned to serve not only these individuals but also universities and employers who need help navigating today’s new economic reality. We are delighted to partner with a great group of investors, as we continue on our mission to transform over one million lives by 2030.”
Vivek Kumar, Managing Director Springboard pointed out that as more and more companies are built on tech, the need to understand concepts like Data Science, AI, ML, UI/UX has become more homogenous. “For learning to be meaningful, it needs to encompass state-of-the-art curriculum with real-world projects as well as mentorship, and this is what Springboard stands for,” he said. “With this funding, we are in a good position to build on our strengths to provide in-demand job skills and holistic support at every step.”
Albert Bielinko, Principal Telstra Ventures, said the education sector is facing a tectonic shift. “As enterprises and countries alike seek more and better talent with digital skillsets, the technology training market is set to explode,” he said. “We invested in Springboard because the strong educational and job placement outcomes achieved by its students are a big differentiator.” Bielinko lauded Springboard’s highly personalised approach as it’s built with the online learner in mind first and offers a life-changing value proposition for Springboard’s graduates.