Springboard, a mentor-guided online learning platform that prepares people for in-demand careers, has raised as much as $31 million in its Series B round, per an announcement.
The round, led by Australian venture capital firm Telstra Ventures, has brought the total capital raised to over $50 million.
A host of other investors participated in the funding round. These include names such as Vulcan Capital, SJF Ventures, Costanoa Ventures, Pearson Ventures, Reach Capital, IFC, 500 Startups, Blue Fog Capital, and Learn Capital.
Springboard, headquartered in San Francisco and Bengaluru, launched its India operations as its first geography outside the USA in 2019. It claims to have placed its learners in companies such as Samsung, Salesforce, Visa, LinkedIn, Cisco.
“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, co-founder, at Springboard.
The latest round of capital will enable Springboard to double down on student employability in response to the current job market in India and globally.
“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,” added Gupta.
Started by co-founders Gautam Tambay and Parul Gupta in 2013, Springboard focuses on a learning model through which it claims to have enabled thousands of successful career transitions into the most in-demand technology fields such as data science, user experience design and business analytics, via its job-guaranteed programmes that are taught entirely online.