San Francisco-based online learning platform Springboard has raised $11 million in post Series A financing round led by venture capital and private equity firm Reach Capital.
Other investors who participated in the round include Pearson Ventures, International Finance Corporation (IFC), returning investors Costanoa Ventures, Learn Capital, and Blue Fog Capital. The company plans to use the funds to expand their presence, launch more courses and bring in more people to strengthen their operations.
Founded in 2013, Springboard offers an educational experience that empowers the students to thrive in this new world order. It provides an online boot camp for high-demand digital skills with one-on-one mentorship by industry experts and portfolio of real-world projects. Springboard offers courses on Data Science, AI/Machine Learning and Data Analytics. The company also offers personalized career coaching, job assistance, and job guarantee, which ensures students get a job within six months of completing a course or they are refunded with the entire tuition fee.
Springboard claims to have empowered over 14,000 students, who have enrolled globally for its online programs. It claims to have a global community of students and mentors from over 100 countries across the world.
Speaking about the company and its programs, Vivek Kumar, Managing Director, Springboard India, said,
“Working professionals have to significantly up-skill or re-skill every 3-5 years to advance in their careers. Our industry-designed programs, combined with in-depth, one-on-one mentorship and career guidance, enable people to achieve their full potential.”
On future plans with the latest funding, Vivek said,
“We also plan to expand our global program portfolio, enhance our career services and employer partnerships, and launch more alumni-focused initiatives with this additional funding.”
Springboard has also partnered with Microsoft to train and place 5,000 students into analytics jobs over the next three years through its new Data Analytics Career Track. The course utilizes Microsoft’s educational resources and subject matter expertise to get students job-ready and place them into high-demand jobs.
Needless to mention, Springboard entered into Indian market earlier this year and launched three programs in the country. The company said that it plans to grow its Indian presence with more courses in design and software engineering.
Springboard believes that education should prepare everyone for the real world, and that working on meaningful projects under the guidance of industry experts is one of the best ways to get there. It seeks to make learning accessible, with support from advisors and mentors who understand the skills needed to succeed.