Investment in the global work experience company was led by Hambro Perks and supported by Sequoia India & Southeast Asia’s Surge, Arsenal Growth, Kaplan, Ascend Vietnam Ventures, and STIC Investments.
Thursday 15th September 2022 – Virtual Internships, an EdTech company delivering global work programs for young people, today announces that it has closed a $14.3 million Series A raise. The capital will help Virtual Internships to further scale its education platform as demand for remote work and learning continues to grow. The global nature of the fundraise, made up of investors across three continents, reflects the business’ ambitions to continue to expand the platform internationally and make internships at the most exciting companies accessible to all.
Daniel Nivern, CEO of Virtual Internships, said: “We have seen a clear societal shift towards remote work, a trend that we believe will continue to accelerate at pace. 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.”
Virtual Internships offers programs across all industries in more than 100 countries worldwide, creating opportunities for the more than 250 million students in higher education to undertake a virtual internship. The unique platform ensures intelligent, rapid matches between students and companies globally, guaranteeing an internship match for every student within one month, regardless of their background, major, location, or desired career field.
Nicholas Sharp, Managing Director at Hambro Perks, said: “Virtual Internships is addressing the needs of a more digital working world and providing opportunities for young people from all backgrounds to be part of the globalized economy. 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.”
With firsthand experience, Sara Sohail, an alumnus of Virtual Internships, said: “Virtual Internships has been a brilliant opportunity for me as it has allowed me to gain experience in a way where I think much of the future workplaces are heading – remote! I was able to learn how to balance working from home better than ever before and felt so productive.”
Interns can work with a wide range of innovative companies, from start-ups to blue chips, with programs ranging from one to four months. With over 70% of interns working directly with the founder or a C-Suite executive of their host company, these young people are gaining experience that can be transformational in helping them pursue their dreams.
With universities, governments, and foundations worldwide supporting Virtual Internships, Linda Cowan, Managing Director, Kaplan International Pathways, said: “We are delighted to be supporting Virtual Internships as their first strategic partner in this latest round of funding. Their 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. 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.”
Beyond helping interns gain invaluable work experience that boosts their employability, a new host company joins the Virtual Internships network every 7.5 minutes from across the globe. Host companies recognize the new perspectives interns bring to the table and are looking to proactively expand their global talent pipeline. In addition, 1 in 4 interns are offered to extend their work with their host company at the end of their internship, further demonstrating the scope of opportunity on both sides.
Speaking about the importance of engaging higher education students in global work, Jason Rottenberg, Co-Founder and General Partner of Arsenal Growth, said: “The trajectory of the future of work has shifted 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. 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.”
About Virtual Internships
With employees in over 25 countries, Virtual Internships is a remote-first EdTech company that is redesigning internships for the 21st-century workforce. The platform ensures intelligent matches between students and companies, provides access to real global internships at the world’s most exciting companies, trains students before and during their internship, and unlocks a global network of relationships.
Virtual Internships works with universities, governments, foundations, and corporations to provide their students, graduates, or employees with a solution to employability customized to the institution or organization. Virtual Internships was founded in 2018 by Daniel Nivern and Ed Holroyd Pearce and has been awarded winners of Mass Challenge 2020, listed as one of the top 20 EdTech start-ups ready to address the needs of the education sector (Jisc and Emerge Education), and one of the top 100 EdTech companies in Europe by Holon IQ.
About Hambro Perks
Hambro Perks is a London-headquartered international investment firm focussed on technology investing. We partner with founders and entrepreneurs to support growth businesses at all stages of the investment cycle.
Hambro Perks has specialized and dedicated investment teams working across a number of funds. In addition to their flagship Venture, EIS, and co-investment funds, Hambro Perks offers several specialist differentiated investment strategies, including Hambro Perks Environmental Technology, Special Situations, and Access, which invests in venture secondaries.
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