New funding round will drive team growth, platform development, help job seekers succeed and shape the future of tech professionals
Pathrise, the leading online mentorship and job placement platform for tech professionals, announced today that it has secured $9 million in Series A Funding — including $5.5 million in new equity capital and $3.5 million in venture debt.
The round was led by Learn Capital (Coursera, General Assembly, Springboard), and also included Western Technology Investment (Facebook, Google), and Day One Ventures (Superhuman, Truebill, DoNotPay). Existing investors with Pathrise include the likes of K50 Ventures, Y Combinator, and GoAhead Ventures.
“We’ve explored the career development and ISA space through hundreds of companies that we’ve reviewed over the last few years and Pathrise has stood out as an extremely promising solution. Their unique approach to mentorship and a human-centric job platform has the potential to change the way that the job search is approached across many different industries at scale,” said Greg Mauro, Founder and Managing Partner, Learn Capital and Pathrise Board Member. “We are excited to support the continued development of a technology driven mentorship program that helps job seekers succeed, regardless of circumstance or background.”
The newly formed partnership following the funding round will aid Pathrise’s clientele by utilizing Learn Capital’s cache in the education technology space as well as their skills, expertise, and network. “Pathrise is pioneering a new way of approaching the job search and we aim to utilize the capital and funding received in this Series A to ultimately ensure our fellows have a higher quality experience with top tier mentors and equal access to their dream job in some of the top industries in the world,” says Kevin Wu, Pathrise CEO and Co-Founder.
Pathrise, an online program for aspiring and established tech professionals, provides one-on-one mentorship, insider knowledge, training, and advice from experts at top tech companies such as Google, Amazon, and Uber to help job seekers land their next job. Pathrise is built around aligned incentives – prospective employees only pay if they succeed in getting hired and start work at a top tier job. Over 96% of their fellows are placed in top tier tech positions with top tier salaries in their first year.
The funding raised in this Series A will be implemented to benefit existing and future fellows by growing the size of the engineering team and investing in the development of Pathrise’s proprietary platform, which manages mentor matching, job searching and resource recommendation. The funding will also aid in continuing to recruit and onboard the highest quality career and industry mentors, refine scholarship systems, create affordable income share agreements and other financial innovations to improve accessibility of the program. Lastly, Pathrise will also be investing in research projects, gathering additional job search data, including industry surveys of hiring managers, and compiling interview data though the company’s platform.
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