Workforce upskilling platform Springboard raises $11 Mn

Springboard, the online learning platform for workforce upskilling, has raised $11 million in a “post series A” funding round led by San Francisco-headquartered early-stage VC firm Reach Capital.

The latest funding round by Springboard, which launched India operations early this year, also saw the participation of Pearson Ventures, International Finance Corporation (IFC), Costanoa Ventures, Learn Capital and Blue Fog Capital.

Exactly two years ago, the company had raised $9.5 million in a Series A round led by Costanoa Ventures.

The fresh proceeds will be used to expand operations, add more courses and hire more talent to strengthen operations. It also is planning to increase the headcount from the current 130 to about 200 over the next few quarters.

The company has also announced a partnership with Microsoft to train and place 5,000 students for data analytics roles through its newly launched product - Data Analytics Career Track.

Launched in 2013 by Parul Gupta and Gautam Tambay as SlideRule, the company was rechristened as Springboard in 2015. It essentially provides online boot camp for high-demand digital skill programmes including machine learning, data science, software engineering, and UI/UX design.

With 1-on-1 industry mentors and job support, and a job guarantee model, Springboard ensures students are placed in new positions within six months.

Globally, Springboard claims to have trained over 14,000 students for its programmes and helped them to get placed in multinational companies such as Microsoft, Facebook, Boeing, and Visa. For the Indian market, Springboard will work separately to increase its footprint with more courses in design and software engineering.

The company provides a six-month course, which includes mentorship and technical guidance, and costs between $4,000 and $6,000.