Tech-enabled ‘future of work’ startup Virtual Internships has raised $2.5m in funding led by Sequoia Capital India’s Surge, with participation from 500 Startups, iSeed, Arc Impact and Hustle Fund.
Virtual Internships offers global work experience programs across 18 career fields and seeks to help young people “kick-start” their career and prepare for the future of work in a digital, borderless world.
“Digitalisation has completely accelerated the way we work with people across the globe and internships should mirror this pattern”
Student sign-ups for Virtual Internships have increased “exponentially”, with 100 students participating in 2019, rising to 1,700 in 2020 and over 6,000 set to take part in 2021.
There are currently over 4,000 host companies across 70 countries using the platform, and over 100 universities and educational institutions worldwide.
“Digitalisation has completely accelerated the way we work with people across the globe and internships should mirror this pattern,” said Daniel Nivern, CEO and co-founder of Virtual Internships.
“With a focus on accessibility, diversity and clear learning outcomes, we’ve redesigned the internship experience for a new, virtual and borderless world.”
Students can either pay directly for the program or a school can pay on their behalf for a guaranteed internship placement with participating host companies, including the online curriculum and optional academic credit.
Some 85% of Virtual Internships’ current revenue comes from universities, governments and foundations.
“Virtual Internships was a great opportunity for me to learn new skills that were imperative for an aspiring graduate. Being able to build confidence, get hands-on experience in my chosen career field, networking, and receiving feedback for personal development was wonderful,” said Jennifer Sharon, a student at Northumbria University.
Virtual Internships is part of the Sequoia Capital India’s Surge fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals live, work and learn better in a rapidly evolving Southeast Asian landscape.
