Virtual Internships matches college students with prime firms all over the world

Remote work struck down limitations for a lot of workers, and now Virtual Internships is doing the identical for college college students all over the world by partnering with over 12,000 firms from 100 nations. The edtech startup introduced in the present day 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 makes use of AI to match college students at scale with internships at firms starting from startups to blue chips and ensures a match inside one month. Its host firms embody AWS, Carrefour, Dentons, GAM Investments, Asian Development Bank and Bio Pharm Dongsung.

Over 70% of interns work straight with a founders or C-suite govt and the platform additionally trains college students earlier than and through internships with an employability course referred to as CareerBridge. They have entry to weekly check-ins, group discussions, webinars and training calls within the center and on the finish of their internships. About 25% of scholars who full an internship by means of the platform are invited to proceed working with their matched firm, and 70% are working in full-time roles inside three months of their internship.

CEO Daniel Nivern informed Thealike that work expertise is a very powerful differentiator for graduates in search of a job, however out of 260 million college students in increased training all over the world, lower than 80 million internships are undertaken. This ends in many college students feeling that their universities didn’t give them satisfactory profession assist. But geography and time commitments additionally make many prime internships inaccessible.

“Virtual internships solves all of these barriers and more by giving all students around the world access to a global, structured internships that they can do at any time and from any place,” he stated. “It allows employers to create global talent pipelines, and universities or governments can support specific audiences, ensuring enhanced employability outcomes and better ROI.”

Before founding Virtual Internships, Nivern and co-founder Edward Holyroyd Pearce launched CRCC Asia in 2006 to assist college students get internships in Asia, rising the enterprise to greater than 10,000 college students. In 2018, they realized there was a a lot bigger market of scholars who needed to do worldwide internships and created Virtual Internships to assist them discover positions regardless of the place they’re.

Since its launch, Virtual Internships has elevated its income from $100,000 in fiscal 12 months 2019/2020 to $4.1 million in 2021/2022, and it expects to hit $10 million by 2024. Most of its income comes from universities which have added Virtual Internships to their curriculum. It additionally companions with governments and college pathway packages.

Nivern says rivals embody venture-backed firms like Forage, which gives 5 to 6 hour digital work expertise packages; apprenticeship packages platform Multiverse; and Riipen, which organizes firm competitions and assignments for college students to finish with the assistance of college. Virtual Internships differentiates by partnering with universities and governments to supply assured internships which have a excessive likelihood of resulting in employment.

The firm will use its new funding to develop its product and engineering groups. It additionally plans so as to add to its partnership growth groups within the United States, United Kingdom and Australia, together with rising markets just like the Middle East, Africa and Southeast Asia.

Nivern says Virtual Internships will concentrate on scalability and employability outcomes by additional creating its matching course of and dealing on a post-internship employability portal that may let firms discover potential workers from its database of scholars and graduates.

“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,” stated Hambro Perks managing director Nicholas Sharp in a press release. “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.”

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