California-based Springboard announced that it raised $9.5 million in a Series A funding. The funding round was headed by Costanoa Ventures, with participation by other investors like Learn Capital and Jyoti Bansal, founder of App Dynamics. The funding round saw participation from other players like Blue Fog Capital, Rocketship VC, and Moneta Ventures.
The online skill enhancement provider has courses that are specifically created to bridge the gap between industry and individual skill. To date, Springboard has already helped around 7,000 students in subjects like data science, UX design, and business analytics over an intensive three to six month course. Springboard houses experts and mentors from various companies like Amazon, Airbnb, McKinsey, with over 350 mentors who help students
The company also provides courses for those who want to get a job, which includes the recently launched Digital Marketing Career Track.
CEO and Co-Founder Gautam Tambay said, “Millennials are likely to have 15 jobs with four to five career changes through their working lives. But options to make those life-changing shifts either involve taking on debt to go to graduate school or relying on a bare-bones online class with no support.”
The funding will help with expansion of the company into new verticals and geographical locations.
They will also use the funds to enhance their learning platform and expand their career services. In the future, the company will launch courses around cybersecurity, which is in very high demand, expecting to cater to 280,000 students.
Springboard’s model is to tag a student with an industry mentor, who will provide constant feedback and career advice.