InternMatch, a global EdTech platform and community focused on employment and career outcomes, has raised $10 million in a Series A round led by Canberra-based residential property developer Doma Group to grow and expand its existing network internationally.
The round also received backing from Melbourne-based investment firm Henslow, which facilitated the capital raise but decided to also invest after becoming convinced by InternMatch’s vision.
Founded in 2016, InternMatch partners with leading companies, startups, and education providers across the globe to provide university students and career changers with professional internships, training, and mentorship, enabling them to gain vital real-life, hands-on industry experience and significantly improve their career prospects. The platform claims to have placed more than 10,000 students into internships to date.
Explaining the need for a platform like InternMatch, Gerard Holland, InternMatch CEO said,
"Many individuals do not have the connections, support or resources to land themselves in these skilled professional roles, and so require a foot in the door that will allow them to use their knowledge and obtain ‘real world’ experience."
"Our technology vets both the candidate and host company to ensure a transparent, safe and accountable relationship is established so that both parties are empowered and can form a long-lasting professional relationship."
InternMatch has grown fourfold since launching into the international market 18 months ago, offering internships to young people looking for experience after completing their education and entering full-time employment.
Entering the workforce and developing experience is a big challenge for many young people. InternMatch hopes to help solve this issue by connecting people across borders and industries to deliver supported internship placements that increase people’s career readiness and training.
Henslow managing director Chris Tait said,
"The technology platform and the machine learning that sits behind the platform is a game-changer for both the businesses, universities and Interns that InternMatch engages with. We had a very strong response from our investor base and increasing interest from international investors. We as a firm were impressed by the team and their clear passion to tackle the employment crisis, not just in Australia but globally, and saw the value in having skin in the game to help them achieve this outcome."
Alongside growing and expanding its existing network internationally, InternMatch said it will use the fresh capital to invest in its technology platforms, making the process more individualised for both employers and prospective interns. The company will also use a proportion of the capital to fund scholarships for underprivileged and underrepresented students.
InternMatch, which was previously known as Outcome.Life, works with the University of Sydney, the University Group, and the Victorian Government to help students gain experience in business and has placed interns at the likes of tech startup Pelikin, accountants Pitcher Partners, and green-packaging outfit Little Green Panda.