Edtech startup Springboard has raised $31 million in a Series B funding round led by Telstra Ventures with participation from Vulcan Capital, SJF Ventures, Costanoa Ventures, Pearson Ventures, Reach Capital, International Finance Corporation (IFC), 500 Startups, Blue Fog Capital, and Learn Capital, as reported by ET (1).
Founded by Gautam Tambay and Parul Gupta in 2013, the startup has accumulated a total of $50 million in funding to date.
Springboard plans to use the freshly raised funding to create new hiring-focussed products and also strengthen the employer partnerships to help graduates gain access to their dream careers and dream jobs.
Rising demand in edtech
Parul Gupta, the co-founder at Springboard, stated that India has been witnessing one of its toughest challenges, owing to the recent layoffs that have impacted a large workforce section. She added that displaced workers must make a difficult transition into the new, in-demand careers.
Springboard forayed its way into India last year.
Recently, Byju’s acquired K-12 segment leader WhiteHat Jr in a $300 million all-cash transaction deal, making it a part of India’s leading edtech giant.
Edtech is one of the segments that has seen the maximum growth in the last few months, ever since the pandemic forced us all to open our doors to the world of online learning.
The company plans to grow its course offerings outside the high-tech industry to include additional skills gap disciplines. The firm also plans to deepen its relations with universities and employers, allowing them to adapt to evolving reskilling needs in a post-pandemic economy.