Springboard raises $11 Mn from Reach Capital, others

Springboard, a US-based online learning platform designed to upskill the workforce of today, has raised $11 Mn in funding with Reach Capital leading the rest of the investors. The platform launched its operations in India, earlier this year. 

Having raised a total of $20 Mn in funding so far, Springboard also partnered with Microsoft to train and place 5,000 students in job roles related to analytics over a period of the upcoming three years with the help of a new Data Analytics Career Track launched by the workforce upskilling platform.  

Pearson Ventures, International Finance Corporation (IFC), Costanoa Ventures, Learn Capital, and Blue Fog Capital, also participated in the post-series A financing round. 

With three programs already launched in India, the organization is working on expanding its presence in India by introducing courses in design and software engineering. At present, Springboard has about 130 employees and intends to raise that number to 200 in the upcoming quarters. 

The recent funding will be leveraged to hire more talent, add more courses, and expand operations, said Vivek Kumar, Managing Director, Springboard India. 

Key takeaway

Currently, the online learning market in India is burgeoning with already established players such as Simplilearn, UpGrad, Udacity, etc. The additional player in the field only goes to show that in an increasingly global market, the need of the hour is for members of the workforce to continuously upskill and re-skill themselves. And, the online education model is the mantra of the digital age, for many L&D and HR leaders.