Springboard Raises $9.5 Million to Build Graduate School Alternative for Millennials

SAN FRANCISCO, Dec. 18, 2017 /PRNewswire/ -- Springboard, a leading provider of online workforce upskilling, today announced $9.5 million in Series A funding led by Costanoa Ventures, with participation by Learn Capital and Jyoti Bansal, the founder of AppDynamics, as well as returning investors Blue Fog Capital, Rocketship.vc, and Moneta Ventures.

Built to help today's workforce move nimbly through a rapidly-shifting economy, Springboard's courses are focused on skills-gap industries where demand for talent is outstripping supply. Springboard has educated more than 7,000 students in its intensive three-to-six months courses in data science, UX design, and business analytics, and has students and alumni in nearly 80 countries. The company has more than 350 professional mentors from companies ranging from Amazon and Airbnb to Uber and McKinsey.

In addition to short upskilling courses, Springboard also offers longer job-focused programs, including its recently-launched Digital Marketing Career Track. The company's flagship career track in data science provides graduates with a job guarantee or their tuition is refunded; on average, Data Science Career Track students receive job offers before the course is even over.

"Millennials are likely to have 15 jobs with four to five career changes through their working lives. But options to make those life-changing shifts either involve taking on debt to go to graduate school or relying on a bare-bones online class with no support," said Springboard CEO and co-founder Gautam Tambay. "Springboard allows the convenience of learning online, but with a robust project-based curriculum and human support, leading to better student outcomes."

Springboard's model pairs each student with an industry mentor, who provides real-world context, frequent feedback, and career advice, resulting in nearly tenfold higher completion rates than Massive Open Online Courses (MOOCs) and other online courses.

Students also work with career coaches and advisors, who focus on job readiness through mock interviews and career-focused curriculum modules. This emphasis on greater accountability and human support has led to alumni landing roles at companies like Google, Visa, Capital One, Nielsen, and beyond.

"Springboard's Career Tracks have experienced a tenfold increase in applications in just the last year. Their mentor-led, career-focused courses are exactly what today's career-changers and job-seekers need," said Mark Selcow, Venture Partner at Costanoa Ventures who is joining Springboard's board as a hands-on operating expert for scaling high-growth companies. "We believe Springboard's unique offering will help fill the major gaps in the current job market and help people across the world achieve their career goals."

The additional funding will enable Springboard to expand its offering into new verticals and geographies, improve upon the learning platform, expand career services and alumni support, and hire across product, marketing, engineering, and student services.

The company will also launch courses in cybersecurity, another high-demand field with a projected 280,000 unfilled openings in the US alone, in early 2018.

About Springboard
Springboard is a workforce upskilling company that offers online courses and extensive mentor-based learning for early- and mid-level professionals in data science, UX design, digital marketing, and other new-economy fields where the demand for talent exceeds supply. Springboard students receive one-on-one mentorship, individualized career counseling, and a uniquely human experience that leads to higher completion rates and job placements. Learn more on our website or join our rapidly growing team.

SOURCE Costanoa Ventures

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