Total amount raised
$15.6 Millions
Latest funding date
10/1/2021
Location
NextStep has successfully raised $5.8 million over two funding rounds, with its latest Series A round bringing in $3.3 million. The company focuses on providing training and job placement through a mobile application platform.
Keep reading to explore the intricacies of NextStep's fundraising journey and the investors backing this innovative platform.
What Is NextStep?
NextStep, founded in 2018, is an information technology company based in Seattle, Washington. The company specializes in providing training and job placement services through a mobile application platform.
Founded by Justin Beals, NextStep aims to bridge the gap between job seekers and employers by offering a user-friendly platform that facilitates efficient staff management.
With a small team of 1-10 employees, NextStep continues to innovate in the job placement industry, leveraging technology to streamline the hiring process.
How Much Funding Has NextStep Raised?
- Seed Round
- Amount Raised: $3.2M
- Date: October 2018
- Lead Investors: Jazz Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and begin initial operations.
- Seed Round
- Amount Raised: $3M
- Date: August 2019
- Lead Investors: SEI Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its features.
- Seed Round
- Amount Raised: $3.6M
- Date: April 2020
- Lead Investors: SpringRock Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
- Seed Round
- Amount Raised: $2.5M
- Date: January 2021
- Lead Investors: ETF@JFFLabs, Zoma Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund continued growth and expand into new states.
- Series A
- Amount Raised: $3.3M
- Date: October 2021
- Lead Investors: Johnson & Johnson Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology platform.
Total Amount Raised: $15.6M. Current Valuation: Not publicly disclosed.
Key Investors
- Johnson & Johnson Foundation
- Details: The Johnson & Johnson Foundation is the philanthropic arm of Johnson & Johnson, dedicated to improving health and well-being globally. It supports initiatives that enhance healthcare access and outcomes.
- Investment Focus Areas: Health, well-being, community health.
- Notable Investments: Various health and well-being initiatives.
- ETF@JFFLabs
- Details: ETF@JFFLabs is a venture fund that invests in companies transforming the future of work and education. It aims to create economic advancement for all by supporting innovative solutions.
- Investment Focus Areas: Workforce development, education technology, future of work.
- Notable Investments: Companies transforming work and education.
- Zoma Capital
- Details: Zoma Capital is the investment arm of the family office of Ben and Lucy Ana Walton. It focuses on addressing social and environmental challenges through strategic investments.
- Investment Focus Areas: Energy, water, community development, education.
- Notable Investments: Investments in energy, water, and community development projects.
- SpringRock Ventures
- Details: SpringRock Ventures is a venture capital firm that invests in healthcare and technology companies. It aims to support innovative solutions that improve health outcomes.
- Investment Focus Areas: Healthcare, technology, life sciences.
- Notable Investments: Healthcare and technology startups.
- Jazz Venture Partners
- Details: Jazz Venture Partners is a venture capital firm that invests in companies at the intersection of technology and human performance. It seeks to enhance human capabilities through innovative technologies.
- Investment Focus Areas: Technology, human performance, health.
- Notable Investments: Companies enhancing human performance through technology.
What's Next for NextStep?
NextStep is poised to capitalize on the growing demand for healthcare workers, particularly certified nursing assistants (CNAs). With plans to expand into new states and enhance its technology platform, the company is well-positioned to address staffing shortages in the healthcare industry. The recent $2.5 million funding round will support these growth initiatives, and a substantial Series A financing round is anticipated in the second half of 2021.
However, the path forward is not without challenges. The ongoing COVID-19 pandemic necessitates virtual training solutions and adapting to varying state regulations. Despite these hurdles, NextStep's innovative approach and strategic partnerships position it for continued success in the evolving healthcare landscape.
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