Total amount raised
$65.7 Millions
Latest funding date
6/1/2023
Location
Springboard has successfully raised significant funding through multiple rounds, attracting a diverse group of investors including Transform Capital and 500 Global.
The platform offers a range of expert-led courses designed to help individuals launch new careers, supported by a robust mentorship and career services system.
What Is Springboard?
Springboard, founded in 2013 by Gautam Tambay and Parul Gupta, is an e-learning platform based in San Francisco, California.
The company offers online courses in fields like software engineering, data science, cybersecurity, data analytics, and UX/UI design, all supported by one-on-one mentorship and a job guarantee for certain programs.
With a team of 101-250 employees, Springboard aims to prepare individuals for modern careers through innovative curriculum and mentor guidance.
How Much Funding Has Springboard Raised?
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: July 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to launch the platform and develop core offerings.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: May 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage operations and product development.
- Seed Round
- Amount Raised: $1.7M
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: $9.5M
- Date: December 2017
- Lead Investors: Costanoa Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase course offerings.
- Series A
- Amount Raised: Not publicly disclosed
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform and improve user experience.
- Series A
- Amount Raised: $11M
- Date: December 2019
- Lead Investors: Pearson Ventures, Reach Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance student employability and expand career services.
- Series B
- Amount Raised: $31M
- Date: August 2020
- Lead Investors: Titanium Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new hiring-focused products and expand course offerings.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and innovation.
- Venture Round
- Amount Raised: $12.5M
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance user engagement.
Total Amount Raised: $65.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Telstra Ventures
- Details: Telstra Ventures is a venture capital firm that invests in technology and innovation. They led the Series B funding round for Springboard.
- Investment Focus Areas: Technology, digital skill sets, innovation.
- Notable Investments: Box, DocuSign, CrowdStrike.
- Costanoa Ventures
- Details: Costanoa Ventures is an early-stage venture capital firm that focuses on enterprise software. They have been a returning investor in multiple funding rounds for Springboard.
- Investment Focus Areas: Enterprise software, data analytics, cybersecurity.
- Notable Investments: Alation, Intacct, Quizlet.
- Pearson Ventures
- Details: Pearson Ventures is the investment arm of Pearson, a global education company. They have participated in several funding rounds for Springboard.
- Investment Focus Areas: Edtech, educational services, digital learning.
- Notable Investments: Knewton, Smart Sparrow, Lumerit Education.
- Reach Capital
- Details: Reach Capital is a venture capital firm that invests in early-stage education technology companies. They have been involved in multiple funding rounds for Springboard.
- Investment Focus Areas: Edtech, K-12 education, higher education.
- Notable Investments: ClassDojo, Handshake, Nearpod.
- International Finance Corporation (IFC)
- Details: IFC is a member of the World Bank Group that focuses on private sector development in developing countries. They have been a returning investor in Springboard.
- Investment Focus Areas: Private sector development, infrastructure, financial services.
- Notable Investments: Byju's, Coursera, UpGrad.
What's Next for Springboard?
Springboard is poised to seize significant opportunities in the edtech sector by enhancing student employability through new hiring-focused products and expanding its course offerings beyond high-tech industries. With a 330% increase in student enrollment and $31 million raised in Series B funding, the platform is well-positioned to deepen partnerships with employers and universities, addressing the growing demand for upskilling in a post-pandemic economy.
Future fundraising opportunities appear promising as the edtech industry continues to attract substantial investment. However, Springboard will need to navigate challenges such as maintaining high job placement rates and adapting to the rapidly changing job market. Competition from other well-funded edtech startups and ensuring the scalability of personalized mentorship will also be critical hurdles to overcome.
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