Springboard raises USD 11 mn from Reach Capital, others

Springboard, leading online learning platform for workforce upskilling, on Tuesday said it has raised USD 11 million (over Rs 78 crore) in funding led by Reach Capital.

The post-series A financing round also saw participation by Pearson Ventures, International Finance Corporation (IFC), as well as returning investors Costanoa Ventures, Learn Capital, and Blue Fog Capital.

The company, which has so far raised USD 20 million in funding, has also partnered with Microsoft to train and place 5,000 students into analytics jobs over the next three years through its new Data Analytics Career Track.

"Working professionals have to significantly upskill or re-skill every 3-5 years to advance in their careers. Our industry-designed programmes combined with in-depth, 1-on-1 mentorship and career guidance enable people to achieve their full potential," Springboard India Managing Director Vivek Kumar said.

He added that the funding will be used to expand operations, add more courses and bring in more talent to strengthen operations.

The San Francisco-based company currently has over 130 people and plans to increase the headcount to about 200 over the next few quarters.

Springboard has over 14,000 students, who have enrolled globally for its programmes. Earlier this year, Springboard launched three programmes in India.

Kumar said the company plans to grow its Indian presence with more courses in design and software engineering.