ⓘ Featured image: Co-founders of Springboard – Gautam Tambay (L) and Parul Gupta
SlideRule Lab, Bengaluru and San Francisco-based company that operates the edtech startup Springboard, on Wednesday raised a whopping $31 million in a Series B round led by Telstra Ventures, with participation from Vulcan Capital and SJF Ventures. The round also saw participation from existing investors Costanoa Ventures, Pearson Ventures, Reach Capital, International Finance Corporation (IFC), 500 Startups, Blue Fog Capital and Learn Capital.
The company aims to deploy the fresh funds to develop new hiring-focused products. It plans to grow its course offerings outside the high-tech industry to include additional skills gap disciplines. The company will also look to deepen its partnerships with universities and employers, enabling them to address their reskilling requirements in a post-pandemic economy.
Speaking of the development, Vivek Kumar, managing director at Springboard in a statement said,
“Technology used to be a niche area but that’s no longer the case. As more and more companies are built on technology, the need to understand concepts like data science, AI (artificial intelligence), ML (machine learning), UI/UX (user interface) has become more homogenous,”
Launched in 2013 by Gautam Tambay and Parul Gupta, Springboard is an online platform for workforce upskilling. It offers courses for early and mid-career professionals in analytics, data science, design, software engineering and other new economy fields. In 2019, it launched its services in India as its first geography outside the US. Springboard matches every student with a personalised mentor who provides weekly feedback. The platform claims to have enrolled over 20,000 students across more than 100 countries have used its platform to advance their careers.
Commenting on the investment round for Springboard, Albert Bielinko, Principal, Telstra Ventures, in a statement said,
“The education sector is facing a tectonic shift. As enterprises and countries alike seek more and better talent with digital skillsets, the technology training market is set to explode,”