[Funding Alert] Springboard Secures $31 Mn Funding In Series B Round Led By Telstra Ventures
The new capital infusion will help Springboard further support job-seeking graduates by building several innovative tools for India and global markets
Mentor guided learning platform Springboard on Wednesday announced that it has raised $31 million in Series B round led by new investor Telstra Ventures, with participation from Vulcan Capital and SJF Ventures, and returning investors Costanoa Ventures among others.
The fresh funding brings the total capital raised by Springboard to more than $50 million.
The new capital infusion will help Springboard further support job-seeking graduates by building several innovative tools like the ‘Hireability Forecaster’, which provides early indications of student success and potential employability roadblocks; ‘Springboard Introductions’, which offers students personalized, targeted introductions and job referrals from its community of over 13,000 members including mentors, alumni, and others; ‘Student-Job Fit Recommender’- an artificial intelligence-driven job matching tool, which recommends open roles at Springboard’s employer partners that match each student's unique background and skill set.
"India is witnessing one of its toughest challenges owing to the recent job losses that have impacted a large section of the workforce. It is therefore imperative for displaced workers to make the difficult transition into new, in-demand careers,” 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're delighted to partner with a great group of investors, as we continue on our mission to transform over one million lives by 2030."
Commenting on the development, Vivek Kumar, managing director, Springboard, said,
“Technology used to be a niche area but that’s no longer the case. 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 that is what Springboard stands for. 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.”
“The education sector is facing a tectonic shift. As enterprises and countries alike seek more and better talent with digital skill sets, the technology training market is set to explode,” said Albert Bielinko, Principal, at Telstra Ventures. "We invested in Springboard because the strong educational and job placement outcomes achieved by its students are a big differentiator. Springboard's highly personalised approach is built with the online learner in mind first, not as an afterthought, and offers a life-changing value proposition for Springboard's graduates.”
Started by co-founders Gautam Tambay and Parul Gupta in 2013, Springboard offers a mentor guided online learning platform that prepares people for in-demand careers. Springboard launched India as its first geography outside the USA in 2019 and has placed its learners in Fortune 500 and world-renowned companies such as Samsung, Salesforce, Visa, LinkedIn, among others.