Virtual Internships, an Edtech startup that delivers global work experience programs across 18 career fields by helping young people to pursue their dream careers with top companies around the world, has helped university students around the world by partnering with over 12,000 companies from 100 countries.
Virtual internships recently raised $14.3 million in Series A funding, according to a statement released by the company. Hambro Perks was the lead investor with participation from Sequoia India & Southeast Asia’s Surge, Arsenal Growth, Kaplan, Ascend Vietnam Ventures, and STIC Investments to further expand its operation.
The company disclosed that the recent fund raised will be used to grow its product and engineering teams.
It also plans to expand its partnership development teams in the United States, United Kingdom, and Australia, along with emerging markets like the Middle East, Africa, and Southeast Asia.
The company makes use of AI Technology to match students at scale with internships at companies ranging from startups to blue chips and guarantees a match within one month.
Over 70% of interns work directly with a founder or C-suite executive and the platform also trains students before and during internships with an employability course called CareerBridge.
They have access to weekly check-ins, group discussions, webinars, and coaching calls in the middle and at the end of their internships. About 25% of students who complete an internship through the platform are invited to continue working with their matched company, and 70% are working in full-time roles within three months of their internship.
Speaking on its operation, the CEO of Virtual Internships, Daniel Nivern said; “Virtual Internships solves all of these barriers and more by giving all students around the world access to global, structured internships that they can do at any time and from any place.
“It allows employers to create global talent pipelines, and universities or governments can support specific audiences, ensuring enhanced employability outcomes and better ROI.”
Since the launch of the Edtech startup, the company has increased its revenue from $100,000 in the fiscal year 2019/2020 to $4.1 million in 2021/2022, and it expects to hit $10 million by 2023.
Most of its revenue comes from universities that have added Virtual Internships to their curriculum.
