Pathrise, an online mentorship and job placement platform for tech professionals, has recently announced that it has raised $9 million in Series A funding, including $5.5 million in new equity capital and $3.5 million in venture debt.
The round was led by Learn Capital, with participation from Western Technology Investment, and Day One Ventures.
Founded in 2017, Pathrise is a leading online mentorship, career accelerator, and job placement platform that seeks to uplift both aspiring and established tech professionals irrespective of the stage of their career. The platform provides one-on-one mentorship, insider knowledge, training, and advice from experts at top tech companies to help job seekers land their next job.
Pathrise invests in fellows by providing personalized advice and training on how to get the best possible job or promotion. The platform is designed for career success and is built around aligned incentives; meaning prospective employees only have to pay if they succeed in getting hired and start work at a high-paying job first. The company has claimed that over 96% of their fellows are placed in top-tier tech positions with high-paying salaries in their first year.
According to an official statement, the latest funding will be implemented to benefit existing and future fellows by growing the size of the engineering team, and in the development of the company’s proprietary platform, which manages mentor matching, job searching, and resource recommendation.
Kevin Wu, Co-founder & CEO of Pathrise, said,
"Pathrise is pioneering a new way of approaching the job search and we aim to utilize the capital and funding received in this Series A to ultimately ensure our fellows have a higher quality experience with top tier mentors and equal access to their dream job in some of the top industries in the world.”
Greg Mauro, Founder and Managing Partner at Learn Capital, and Pathrise Board Member commented on the investment,
"We've explored the career development and ISA space through hundreds of companies that we've reviewed over the last few years and Pathrise has stood out as an extremely promising solution. Their unique approach to mentorship and a human-centric job platform has the potential to change the way that the job search is approached across many different industries at scale. We are excited to support the continued development of a technology-driven mentorship program that helps job seekers succeed, regardless of circumstance or background."
Pathrise said the latest funding will also help the company to recruit and onboard the highest quality career and industry mentors, refine scholarship systems and create affordable income share agreements and other financial innovations to improve the accessibility of the program. The company also plans to invest in research projects, in gathering additional job search data, including industry surveys of hiring managers and compiling interview data through the company's platform.