Total amount raised
$37 Millions
Latest funding date
8/1/2021
Location
Forage has successfully raised significant funding through multiple rounds, with notable investors such as Lightspeed Venture Partners and Blackbird Ventures. The platform offers free virtual work experience programs designed by top companies to help students build real-life skills and prepare for jobs.
Keep reading to explore the intricacies of Forage's fundraising journey and the investors backing this innovative platform.
What Is Forage?
Forage, founded in 2017 by Pasha Rayan and Thomas Brunskill, is headquartered in San Francisco, California. The company collaborates with top employers to create free virtual work experience programs that help students build real-life skills and prepare for their careers.
These programs, designed by leading companies, offer job simulations that replicate real work tasks, providing students with practical experience and insights into various industries and roles. Forage's platform is open access and self-paced, making it accessible to a wide range of students.
With a team of 51-100 employees, Forage continues to expand its ecosystem, which includes over 1 million students. The platform's mission is to enhance career skills, visibility, and confidence among its users.
How Much Funding Has Forage Raised?
- Seed Round
- Amount Raised: $150K
- Date: January 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial development and launch of the platform.
- Seed Round
- Amount Raised: $2.5M
- Date: May 2019
- Lead Investors: Transition Level Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more students.
- Series A
- Amount Raised: $9.3M
- Date: September 2020
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the staff, particularly in engineering, product, and sales roles.
- Series B
- Amount Raised: $25M
- Date: August 2021
- Lead Investors: Blackbird Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance its offerings.
Total Amount Raised: $36.95M. Current Valuation: Not publicly disclosed.
Key Investors
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments. They have a strong track record of supporting innovative technology companies.
- Investment Focus Areas: Enterprise, consumer, health sectors.
- Notable Investments: Snapchat, Nest, GrubHub.
- Blackbird Ventures
- Details: Blackbird Ventures is an Australian venture capital firm that invests in technology companies. They aim to support founders with global ambitions.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Canva, Culture Amp, SafetyCulture.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding and mentorship. They have helped launch numerous successful startups.
- Investment Focus Areas: Technology, software, consumer services.
- Notable Investments: Airbnb, Dropbox, Reddit.
- Transition Level Investments
- Details: Transition Level Investments is a venture capital firm that focuses on early-stage technology companies. They aim to support disruptive and innovative startups.
- Investment Focus Areas: Technology, fintech, software.
- Notable Investments: Go1, Clipchamp, Gilmour Space Technologies.
- FundersClub
- Details: FundersClub is an online venture capital platform that connects investors with early-stage technology startups. They provide a unique approach to venture capital through their online platform.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Coinbase, Instacart, GitLab.
What's Next for Forage?
Forage stands at the cusp of a significant opportunity, driven by the rising demand for virtual work experiences. With partnerships with major companies like Deloitte and Citi, the platform is poised to expand its reach, potentially enrolling millions more students globally. This growth could attract further investment, enabling Forage to enhance its offerings and scale operations.
However, challenges loom. The company must navigate a competitive edtech landscape and ensure the effectiveness of its corporate partnerships. Maintaining profitability while scaling will be crucial. Despite these hurdles, Forage's innovative approach and strong investor backing position it well for future success.
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