Springboard raises USD$1.7 Million in Seed round of funding



Online education platform, Springborad has raised $1.7 Million in seed round of funding from a group of investors including co-founder of LinkedIn, Allen Blue and Naveen Tewari. The founder of The Princeton Review, 2U and The Noodle Companies, John Katzman, founders of InMobi, Amit Gupta, 500 Startups and Kartik Hosanagar, Wharton School professor and others have also participated in this round of funding raised by the EdTech Company. The company will use the fund to launch some additional courses as well as providing additional services and support to the students.

Springboard was founded by Parul Gupta and Gautam Tambay as SlideRule in 2013. The startup was started as a platform that allowed students to search for online courses, but later tweaked its model. Parul Gupta said, “There is incredible demand for trained data scientists and UX designers, even as 45 percent of recent college grads are underemployed and struggle to find effective ways to learn career-related skills. We’re addressing these problems through an incredibly personalized education co-designed with industry experts. Our approach of combining a project-heavy curriculum with 1-on-1 mentorship creates accountability and ensures that our graduates are ready to thrive in the new economy.”

Currently, EdTech startups are pretty popular in US and Canada, but it is not that much popular in India. But, the EdTech startups are slowly getting their due in India also. Some other funded EdTEch startups in India are Toppr, Vedantu and Iprof India.

Toppr had raised $10 Million led by Fidelity Growth Partners India this May, whereas Vedantu, which is an online tutorial platform for students, had raised $5 Million from Accel Partners and Tiger Global Management. IProf India, which is a content provider platform for exam preparation, had raised $15 Million till now from group of investors including UK based Daily Mail Group and Norwest Venture Partners.