InsideSherpa, a tech startup that offers company-backed free open-access virtual internships for college students has announced that it has raised US$9.3 million in a Series A round according to a company press release.
The round of funding was led by Lightspeed Venture Partner with FundersClub, Y Combinator and Arizona State University also participating in the round.
It also stated that InsideSherpa will also be rebranding itself to a new company name, Forage.
“For us, the name Forage evokes self-development, curiosity and self-sustenance, things that reflect the qualities of the students and companies in our ecosystem,” Brunskill said about the rebrand.
“As the product evolved, we’ve long felt it was time to evolve our company name as well,” Brunskill added.
Proceeds of the round will be used to grow InsideSherpa’s staff, with more engineering, product and sales roles.
Founded in 2017 by Brunskill and Pasha Rayan, Forage does not sell internships placements but rather offers one more degree before the recruitment process. Students can go to the website and take a course from large companies such as Deloittee, Citi, BCG and GE.
“We don’t believe there is a silver bullet solution to fixing the education (or recruitment) system (which is why we love seeing other companies tackle this same problem), but we think our model will play an incredibly important role in democratizing skill-building & employment opportunities in a scalable way,” Brunskill said in the announcement.
Forage has now raised funds to the tune of $11.6 million according to the statement.