Founders: Gautam Tambay and Parul Gupta
Financing status: USD 9.5 million in Series A
California and Bengaluru-based online edtech startup Springboard has landed USD 9.5 million in a Series-A funding round led by California-based Costanoa Ventures. The round also saw participation from existing investors Blue Fog Capital, Rocketship.vc, and Moneta Ventures as well as new investors Learn Capital and Jyoti Bansal. According to Springboard, the newly raised capital will be allocated towards enhancing its learning platform, expanding career services and alumni support, and onboarding new staff to handle marketing, engineering, and student services.
Springboard is a digital learning portal focused on technology and job-related knowledge sets. The startup provides users with a flexible and personalized course experience aimed at developing in-demand skills. Students have a choice of courses in tech-related disciplines such as data science, user experience (UX) design, or business analytics — all of which come with mentorship from an industry professional. According to Springboard’s cofounder, “The world and the economy are changing in a way that traditional education can’t adapt to. This is education designed to fit your life instead of the other way around.”
Since its launch, Springboard has reportedly educated more than 7,000 students. Select programs (such as the Data Science Career Track) guarantee employment upon course completion or a tuition refund is dispensed. According to Springboard’s website, the platform currently enrolls more than 5,000 students hailing from more than 77 countries, all of whom are studying under the guidance of more than 300 mentors.
Graduates of its programs have continued on to prestigious employers such as Amazon, Boeing, Saatchi & Saatchi, and Visa. India’s online education market is expected to witness 800% growth in the next five years according to market research from KPMG and Google. Springboard hopes to be an integral driving force in that growth.
Gautam Tambay and Parul Gupta founded Springboard in 2013. Tambay previously worked as a director of business and corporate development at inMobi. Gupta worked previously as a technical staff member at IBM.
Other players in India’s workforce edtech area that have received substantial investment include include CareerGuide, Embibe, Cuemath, and CultureAlley.
(Top image from Springboard.com)