Ed-tech startup Springboard raises ₹60 crore in its Series A funding round

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Springboard, an ed-tech startup that provides professional courses, has announced that it has secured around ₹60 crore ($9.5 million) in its Series A funding round. The investment round was led by Costanoa Ventures.

As a part of the deal, Mark Selcow of Costanoa Ventures will now be a part of the company’s board of directors.  The funding round also saw participation from Learn Capital and Jyoti Bansal, founder of Appdynamics. Existing investors of the company, including Blue Fog Capital, Rocketship.vc, and Moneta Ventures also participated in this round.

The funding will now be used by the company to expand its offerings in new verticals and geographies, especially in India. The company will also be investing in technology to enable personalised learning.

Commenting on this new funding round, Gautam Tambay, CEO of Springboard, said,

In this day and age where one changes 5-6 careers and has 12-15 jobs, education has to fit into your life. The main reason for raising funds is to expand into new verticals like cybersecurity and blockchain technology. We are looking to double down on India.

Mark Selcow, venture partner at Costanoa Ventures, said,

Springboard’s Career Tracks have experienced a tenfold increase in applications in just last year. We believe Springboard’s unique offering will help fill major gaps in the current job market.

Springboard, founded in 2013 by Gautam Tambay and Parul Gupta, offers online courses and one-to-one mentor-based learning for early and mid-level professionals in data science, UX design, digital marketing and other new economy fields.

The company, which was formerly known as SlideRule, began as a search engine for online courses, but later added a mentoring element. It now curates curriculum for students and facilitates video calls with personal mentors.