Virtual Internships, a Vietnamese education technology startup, has raised $2.5 million in a new funding round led by Sequoia Capital India’s accelerator program Surge.
Others investors including Art Impact, Hustle Fund, iSeed, and 500 Startups also participated in the round.
Founded in 2018, Virtual Internships is redefining career development by reducing barriers to employment through industry-leading virtual employability programs. The startup works with universities, K-12 schools, foundations, governments, education institutions, and corporates to provide students, graduates, and employees with programs that incorporate professional development courses, mentor coaching, and guaranteed remote work placements.
Virtual Internships offers programs across 18 career fields including human resources, engineering, finance, digital marketing, and computer science, allowing young people to receive guaranteed work experience that matches their interests and goals and kickstart their careers in the 21st-century job market.
“Digitalization has completely accelerated the way we work with people across the globe and internships should mirror this pattern,” Virtual Internships co-founder and CEO Daniel Nivern said in a statement.
From application and screening to accepting candidates, the entire process for an internship takes place on the company’s online platform. Employers receive access to video and application screening tools, internship project templates, placement support, and content on remote team management.
According to a 2019 student survey report by the US-based National Association of Colleges and Employers, internships improve a student’s chances of landing a job offer by roughly 16%. However, movement restrictions and border closures due to the Covid-19 pandemic have made it more difficult for students to apply for and take up internships. Virtual Internships aims to circumvent these barriers by incorporating technology and best practices for remote work setups.
Virtual Internships claimed to have seen student sign-ups grow to over 6,000 last year from just 100 in 2019. The company also claimed that more than 125 universities and educational institutions, and over 4,000 host companies across 70 countries were taking part in its programs.