Total amount raised
$29.2 Millions
Latest funding date
07/01/2022
Location
Pathrise has successfully raised $17 million in a Series B funding round, backed by investors such as Western Technology Investment and LearnStart. The platform offers a comprehensive mentorship program designed to help tech professionals land their next job through services like career mentorship, technical interview prep, and salary negotiation.
Keep reading to explore the intricacies of Pathrise's fundraising journey and the investors backing this innovative platform.
What Is Pathrise?
Pathrise, founded on February 23, 2017, is an online mentorship program based in San Francisco, California. The company was established by Derrick Mar and Kevin Wu.
Operating in the career planning, education, employment, and recruiting industries, Pathrise offers a comprehensive career accelerator program. It provides personalized mentorship, technical interview preparation, and salary negotiation support to help tech professionals land high-paying jobs.
With a team of 51-100 employees, Pathrise has successfully assisted over 2,700 fellows in advancing their careers through various industry tracks, including Software Engineering, Product Management, and Data Science.
How Much Funding Has Pathrise Raised?
- Pre-Seed Round
- Amount Raised: $120,000
- Date: August 2018
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop the initial platform.
- Seed Round
- Amount Raised: $3,100,000
- Date: November 2019
- Lead Investors: GoAhead Ventures, LearnStart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: $5,500,000
- Date: May 2021
- Lead Investors: Learn Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive team growth, develop the platform, and help job seekers succeed.
- Debt Financing
- Amount Raised: $3,500,000
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and further platform development.
- Series B
- Amount Raised: $17,000,000
- Date: July 2022
- Lead Investors: Western Technology Investment, LearnStart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand into new markets.
Total Amount Raised: $29,220,000. Current Valuation: Not publicly disclosed.
Key Investors
- Learn Capital
- Details: Learn Capital is a venture capital firm focused on investing in the global education technology sector. They support companies that innovate in the learning and education space.
- Investment Focus Areas: Education technology, online learning platforms, innovative educational tools.
- Notable Investments: Coursera, Udemy, AltSchool.
- Western Technology Investment
- Details: Western Technology Investment (WTI) provides venture debt to high-growth companies. They have a history of supporting technology and life sciences sectors.
- Investment Focus Areas: Technology, life sciences, clean technology.
- Notable Investments: Facebook, Google, Palantir.
- Day One Ventures
- Details: Day One Ventures is a venture capital firm that combines investment with public relations and marketing support. They focus on early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies, consumer software, enterprise software.
- Notable Investments: Superhuman, Truebill, DoNotPay.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding, advice, and connections to early-stage startups. They have a broad focus on technology and innovation-driven startups.
- Investment Focus Areas: Technology, innovation-driven startups.
- Notable Investments: Airbnb, Dropbox, Stripe.
- GoAhead Ventures
- Details: GoAhead Ventures is a venture capital firm that invests in early-stage technology companies. They support startups across various sectors.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not specified.
What's Next for Pathrise?
Pathrise is poised to capitalize on the growing demand for online mentorship and job placement services. With $9 million in Series A funding, the company plans to expand its engineering team, develop its proprietary platform, and recruit high-quality mentors. This financial boost will enable Pathrise to refine its scholarship systems and create affordable income share agreements, making its services accessible to a broader audience.
Future fundraising opportunities seem promising, given the successful Series A round and the involvement of prominent investors like Learn Capital and Western Technology Investment. As Pathrise scales its operations, it may attract additional investment to further enhance its platform and expand into new markets. However, the company will need to navigate challenges such as maintaining the quality of mentorship and competing with other job placement platforms.
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