Total amount raised
$65.7 Million
Latest funding date
6/1/2023
Location
Springboard has successfully raised funding over eight rounds, with the latest being a Venture - Series Unknown round. The platform offers a range of online learning programs designed to help individuals launch new careers in tech and healthcare.
Springboard is backed by 26 investors, including Transform Capital and Costanoa Ventures. Keep reading to explore the intricacies of Springboard's fundraising journey and the investors supporting this innovative platform.
What Is Springboard?
Springboard is an e-learning platform based in San Francisco, California, that prepares individuals for modern careers through innovative curriculum and mentor guidance. The company operates within the e-learning, EdTech, and education industries.
Founded with the mission to provide career-focused programs, Springboard offers courses in fields such as AI, Data Science, Cybersecurity, Software Engineering, and Healthcare. The company employs between 101-250 people, ensuring a robust support system for its students.
How Much Funding Has Springboard Raised?
- Series Unknown
- Amount Raised: USD 12,500,004
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the growth and expansion of Springboard's e-learning platform.
- Series B
- Amount Raised: USD 31,000,000
- Date: August 2020
- Lead Investors: Telstra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance student employability, create new hiring-focused products, and strengthen employer partnerships.
- Series A
- Amount Raised: USD 11,000,000
- Date: December 2019
- Lead Investors: Pearson Ventures, Reach Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at expanding the platform and enhancing its offerings in the upskilling domain.
- Series A
- Amount Raised: Not publicly disclosed
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the growth and expansion of Springboard's e-learning platform.
- Series A
- Amount Raised: USD 9,500,000
- Date: December 2017
- Lead Investors: Costanoa Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the growth and expansion of Springboard's e-learning platform.
- Seed
- Amount Raised: USD 1,700,000
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the initial growth and development of Springboard's platform.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: May 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the initial growth and development of Springboard's platform.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: July 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting the initial growth and development of Springboard's platform.
Total Amount Raised: USD 65,200,004. Current Valuation: Not publicly disclosed.
Key Investors
- Telstra Ventures
- Details: Telstra Ventures is a venture capital firm that invests in technology and innovation. They have a strong focus on digital transformation and enterprise software.
- Investment Focus Areas: Technology, digital media, enterprise software.
- Notable Investments: Box, DocuSign, BigCommerce.
- Vulcan Capital
- Details: Vulcan Capital is the investment arm of Vulcan Inc., founded by Microsoft co-founder Paul Allen. They invest in a wide range of sectors including technology and life sciences.
- Investment Focus Areas: Technology, life sciences, media.
- Notable Investments: Charter Communications, Alibaba, Intellectual Ventures.
- SJF Ventures
- Details: SJF Ventures is a venture capital firm that focuses on high-growth, positive impact companies. They are known for their investments in clean energy and sustainability.
- Investment Focus Areas: Clean energy, sustainability, social impact.
- Notable Investments: Nextracker, Vital Farms, TransLoc.
- Costanoa Ventures
- Details: Costanoa Ventures is an early-stage venture capital firm that invests in enterprise software. They focus on helping startups grow and scale.
- Investment Focus Areas: Early-stage enterprise software.
- Notable Investments: Alation, Intacct, Quizlet.
- Pearson Ventures
- Details: Pearson Ventures is the venture capital arm of Pearson, a global education company. They invest in innovative education technology and services.
- Investment Focus Areas: Education technology, learning innovations.
- Notable Investments: Knewton, Voxy, Smart Sparrow.
What's Next for Springboard?
Springboard is poised to capitalize on the growing demand for digital skills and workforce upskilling. With a 330% increase in student enrollment from June 2019 to June 2020, the platform is expanding its course offerings beyond high-tech industries to address broader skills gaps. This significant growth potential is supported by a recent $31 million Series B funding round, bringing their total funding to over $50 million.
Future fundraising opportunities seem promising as Springboard continues to enhance student employability through new hiring-focused products and strengthened employer partnerships. The edtech sector's favorable investment climate suggests that additional funding rounds could be anticipated to support these initiatives.
However, Springboard may face challenges such as competition from other well-funded edtech startups and the need to maintain high job placement rates. Adapting to the rapidly changing job market and ensuring the quality of education will be crucial as the company scales its operations and expands its offerings.
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