Educational product supplier Pearson has invested $2.2m in US-based digital education provider Springboard through corporate venturing vehicle Pearson Ventures as part of an $11m post-series A round, EdSurge has reported.
The round was led by education-focused investment firm Reach Capital and included International Finance Corporation, the private investment arm of the World Bank, in addition to Costanoa Ventures, Learn Capital and Blue Fog Capital.
Springboard runs bootcamps that teach digital skills, offering job guidance and one-to-one mentoring. It also offers refunds to any participants without a job offer within six months of the end of the course.
Pearson Ventures had already announced its investment separately, in conjunction with a $2m investment in healthcare education platform developer Knowledge to Practice.
Pedro Vasconcellos, Pearson Ventures’ head of investments, said: “We are pleased to invest in Springboard and Knowledge to Practice (K2P), both companies shaping the future of education.
“Each company aligns closely with Pearson’s five-year strategy and vision. Springboard brings a sharp focus on employability outcomes and Knowledge to Practice delivers relevant and up-to-date content in an innovative and flexible manner.”
Springboard graduated from the Bangalore, India branch of software provider Microsoft’s Accelerator scheme and raised $1.7m from assorted angel investors in 2015.
Costanoa Ventures led the company’s $9.5m series A round in late 2017, investing together with Learn Capital, angel investor Jyoti Bansal and existing shareholders Blue Fog Capital, Rocketship.vc and Moneta Ventures.
