Vietnamese company EdTech Virtual Internships raises $14.3 million to make internships accessible to everyone

Virtual Internships, a Vietnam- and UK-based education technology company offering global work experience programs for young people, announced that it has raised $14.3 million in its Series A funding round led by Hambro Perks.

The round was also backed by Sequoia India and Southeast Asia’s Surge, Arsenal Growth, Kaplan, Ascend Vietnam Ventures and STIC Investments.

According to a press release, the company plans to use the capital to further grow its education platform as demand for remote work and learning continues to grow. The global nature of the fundraising, made up of investors from three continents, reflects the business’s ambitions to continue expanding the platform
internationally and make internships at the most exciting companies accessible to everyone.

Founded in 2018 by Daniel Nivern and Ed Holroyd Pearce, Virtual Internships offers programs across all industries in more than 100 countries, creating opportunities for more than 250 million higher education students worldwide to undertake virtual internships. The unique platform provides an intelligent, fast match between students and companies on a global scale, guaranteeing an internship match for every student within one month, regardless of their background, major, location or desired career field.

Speaking of the company, Co-founder and CEO of Virtual Internships, Daniel Nivernsaid in a statement to the media:

“We have seen a clear social shift towards remote working, a trend we believe will continue to accelerate. We should embrace the opportunities this presents, and platforms like Virtual Internship help students and graduates from around the world acquire new skills that will accelerate their development careers and prepare them for the 21st century workplace. Our mission is to bridge the gap between education and the workforce by making the global remote work experience accessible to everyone in a borderless digital world.”

The startup’s vision is to democratize the global workforce so that a young person can find their global dream job, based on merit, not geography. It works with universities, governments, foundations and corporations to provide its students, graduates or employees with a recruitment solution tailored to the institution or organization.

Commenting on the fundraising, General manager of Hambro Perks, Nicholas Sharp, He said:

“Virtual Internships addresses the needs of a more digital business world and provides opportunities for young people from all backgrounds to be part of a globalized economy. The global network the team is creating through the platform – with clients, teams and investors around the world – is unique and exciting and we are delighted to support them through their next phase of growth.”

The virtual practice is backed by some of the world’s biggest investors who were early investors in companies like LinkedIn, AirBnB, Zoom, WhatsApp, Udemy, ApplyBoard etc. The company is part of Sequoia Capital India’s Surge fifth group of 23 companies that have developed new digital solutions to would help businesses and individuals better live, work and learn in the rapidly evolving landscape of Southeast Asia.

Kaplan International Pathways, Director, Linda Cowanalso reacted to the latest investment, saying:

“We are pleased to support Virtual Internships as their first strategic partner in this latest round of funding. Their approach to work-integrated learning and mission to increase accessibility for students aligns closely with Kaplan’s strong focus on increasing the employability of our international students. We have received overwhelmingly positive feedback from our students who have done internships with the virtual internship and look forward to continuing to work with the team.”

Co-Founder and General Partner of Arsenal Growth, Jason Rottenbergadded:

“The trajectory of the future of work has changed dramatically over the last two years. As a result, global higher education institutions must adapt and adopt technologies and processes to deliver employees who are capable, confident and comfortable with this change. The Virtual Internship Platform and Program enable institutions , students and employers to collaborate efficiently and effectively to produce the employees that the future of work demands. The Virtual Internship team and investors understand the importance of this market need and are poised to become a critical component in solving it.”

Last year in July, Virtual Internships raised $2.5 million in a funding round led by Sequoia Capital India’s Surge, with participation from 500 Startups, iSeed, Arc Impact and Hustle Fund.

about the author

Author: Shalini Pathak

Shalini PathakShalini Pathak is a writer at EdTechReview (ETR) – India’s leading edtech media and community. He has over four years of experience in the media, covering different beats. Like all writers, she is first and foremost an avid reader with a passion for creating out-of-the-box content and the ability to write about any topic. As part of the ETR team, he will cover the latest news in the edtech industry with a focus on stories about edtech startup companies and their funding.

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