Edtech specialists Virtual Internships has closed a $14.3 million Series A funding round as it scales to meet a growing demand for remote work and learning. It hopes to provide virtual work experience for the more than 250 million students around the world.
Investors across three continents reflect the Virtual Internship’s ambitions to continue to expand the platform internationally and “make internships at the most exciting companies accessible to all”, the company said.
The round was led by Hambro Perks, with support from Sequoia India & Southeast Asia’s Surge, Arsenal Growth, Kaplan, Ascend Vietnam Ventures, and STIC Investments.
“We have seen a clear societal shift towards remote work, a trend that we believe will continue to accelerate at pace,” Daniel Nivern, CEO of Virtual Internships, said.
“We should embrace the opportunities that this presents, and platforms like Virtual Internships help students and graduates from around the world to acquire new skills that will accelerate their career growth and prepare them for the 21st-century workplace.
“Our mission is to bridge the gap between education and the workforce by making global remote work experience accessible to all in a digital and borderless world.”
In 2021, Virtual Internships raised an initial $2.5m in funding.
Managing director at Hambro Perks, Nicholas Sharp, noted that the company is “addressing the needs of a more digital working world”.
By offering programs across all industries in more than 100 countries Virtual Internships is “providing opportunities for young people from all backgrounds to be part of the globalised economy”, he continued.
“The global network that the team is creating through the platform –with customers, teams, and investors worldwide– is unique and exciting, and we are delighted to be supporting them through their next stage of growth,” Sharp explained.
Virtual Internships was founded in 2018 by Ed Holroyd Pearce and Daniel Nivern. Photo: Virtual Internships
Over 70% of interns work directly with the founder or a C-Suite executive at host companies, and Virtual Internships guarantees an internship match for every student within one month, regardless of their background, major, location, or desired career field.
Kaplan International Pathways has also signed up to be Virtual Internships’s first strategic partner.
“[The company’s] work-integrated learning approach and mission to increase accessibility for students align closely with Kaplan’s keen focus on enhancing the employability of our international students,” managing director at Kaplan International Pathways, Linda Cowan, said.
“Global institutions of higher learning need to adjust and adopt technologies and processes”
“We have received extremely positive feedback from our students who have undertaken internships with Virtual Internships and look forward to continuing to work with the VI team.”
Jason Rottenberg, co-founder and general partner of Arsenal Growth, also pointed to the trajectory of the future of work shifting “dramatically over the last two years”.
“As a result, global institutions of higher learning need to adjust and adopt technologies and processes to deliver employees that are capable, confident, and comfortable with this shift,” Rottenberg said.
“Virtual Internships’ platform and the program enable institutions, students, and employers to effectively and efficiently collaborate to produce the employees that the future of work demands. The Virtual Internships team and investors understand the importance of this market need and are ready to become a critical component to address it.”
