Total amount raised
$434 Millions
Latest funding date
Location
Handshake has successfully raised significant funding across multiple rounds, with notable investors such as Spark Capital and the Chan Zuckerberg Initiative backing the platform. The company provides a robust career network that connects over 10 million students and recent graduates with more than 750,000 employers.
Keep reading to explore the intricacies of Handshake's fundraising journey and the investors supporting this innovative platform.
What Is Handshake?
Founded in 2014, Handshake is a career network based in San Francisco, California. The platform connects students and recent graduates with job opportunities.
Handshake was established by Ben Christensen, Garrett Lord, and Scott Ringwelski. It aims to bridge the gap between educational institutions and employers.
With a workforce of 501-1000 employees, Handshake serves over 10 million users from 1,400 educational institutions, linking them with more than 750,000 employers.
How Much Funding Has Handshake Raised?
- Seed Round
- Amount Raised: $3.5M
- Date: March 2015
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and establish a market presence.
- Series A
- Amount Raised: $10.5M
- Date: February 2016
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the user base.
- Series B
- Amount Raised: $20M
- Date: November 2016
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and increase market penetration.
- Series C
- Amount Raised: $40M
- Date: October 2018
- Lead Investors: EQT Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and further product development.
- Series D
- Amount Raised: $80M
- Date: October 2020
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the platform's capabilities.
- Series E
- Amount Raised: $80M
- Date: May 2021
- Lead Investors: Lightspeed Venture Partners, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and invest in new technologies.
- Series F
- Amount Raised: $200M
- Date: January 2022
- Lead Investors: Coatue, Valiant Peregrine Fund
- Valuation at Round: $3.5 billion
- Motivation Behind the Round: To meet unprecedented demand and expand internationally.
Total Amount Raised: $434M. Current Valuation: $3.5 billion.
Key Investors
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups across various stages. It has a strong presence in the technology sector.
- Investment Focus Areas: Technology startups, media, entertainment.
- Notable Investments: Twitter, Slack, Oculus.
- Chan Zuckerberg Initiative
- Details: Founded by Mark Zuckerberg and Priscilla Chan, this philanthropic organization focuses on leveraging technology to solve social issues.
- Investment Focus Areas: Education, technology, social impact.
- Notable Investments: Andela, BYJU'S, AltSchool.
- Lightspeed Venture Partners
- Details: Lightspeed is a venture capital firm that invests in the enterprise, consumer, and health sectors. It has a global presence with offices in multiple countries.
- Investment Focus Areas: Enterprise, consumer, health.
- Notable Investments: Snapchat, Nest, GrubHub.
- Coatue Management
- Details: Coatue Management is a global investment firm focused on technology, media, telecommunications, and consumer sectors.
- Investment Focus Areas: Technology, media, telecommunications, consumer.
- Notable Investments: ByteDance, DoorDash, Snap.
- True Ventures
- Details: True Ventures is a venture capital firm that invests in early-stage technology companies. It aims to support founders with bold ideas.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Fitbit, Peloton, Ring.
What's Next for Handshake?
With a fresh $200 million in Series F funding, Handshake is poised to seize significant opportunities. The platform's expansion into job-ready skills and credentials for students, coupled with its international growth, positions it to tap into a vast market of over 20 million candidates and 650,000 employers. This growth trajectory suggests potential for future fundraising to support these ambitious plans.
However, Handshake faces challenges in competing with established networking giants like LinkedIn and Indeed. Ensuring the platform remains effective and relevant as it scales, while addressing the diverse needs of a global user base, will be crucial. The company's focus on dismantling outdated recruiting practices and fostering inclusivity will be key to navigating these hurdles.
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