Remote work struck down barriers for many employees, and now Virtual Internships is doing the same for university students around the world by partnering with over 12,000 companies from 100 countries. The edtech startup announced today it has raised a $14.3 million Series A led by Hambro Perks, with participation from Sequoia India & Southeast Asia’s Surge, Arsenal Growth, Kaplan, Ascend Vietnam Ventures and STIC Investments.
Virtual Internships uses AI to match students at scale with internships at companies ranging from startups to blue chips and guarantees a match within one month. Its host companies include AWS, Carrefour, Dentons, GAM Investments, Asian Development Bank and Bio Pharm Dongsung.
Over 70% of interns work directly with a founders 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.
CEO Daniel Nivern told TechCrunch that work experience is the most important differentiator for graduates seeking a job, but out of 260 million students in higher education around the world, less than 80 million internships are undertaken. This…
