Online mentor-based learning platform SlideRule, which we covered earlier this year, has raised $1.7 million (about 11.4 crores) in seed funding. It also announced a change of name to Springboard to better reflect their transition from a course discovery platform to a non-traditional school in itself.
The funding round was led by LinkedIn’s Allen Blue; InMobi co-founders Naveen Tewari and Amit Gupta; John Katzman, founder of The Princeton Review, 2U and The Noodle Companies; and 500 Startups.
Kartik Hosanagar, a professor at The Wharton School of the University of Pennsylvania; serial entrepreneur Kashyap Deorah and Blue Fog Capital were the other investors who participated in the round.
We are thrilled that these amazing folks have joined us in our mission.This is just the beginning. We are on a mission to make high-quality education accessible to everyone in the world. We have some great things planned, and we’re excited about the future.
said the team of Springboard in a blogpost.
The fresh funds will be deployed by the company to launch new courses on its platform and to provide additional student services and support. Springboard initially started off as an online discovery platform for various courses and was limited to offering curated learning paths.
With demand, it began offering various online courses along with personalized mentorship and guidance from people currently working in the industry. Through one to one personalized video sessions with experts during the learning period, there is a level of human interaction and accountability associated with Springboard.
This makes the learning experience as well as, course completion rate on Springboard is altogether different and better than the most MOOCs and other online courses. According to the startup, they see a completion rate of 10 times higher on their courses as compared to the traditional online courses.
Our approach of combining a project-heavy curriculum with 1-on-1 mentorship from industry experts creates accountability and ensures that our graduates are ready to thrive in the new economy,
said Gautam Tambey, co-founder, and CEO of Springboard.
When a student knows that he/she has to talk to the mentor the next day, you know they’re going to be better prepared,”
Currently, Springboard has over 1000 paid learners and about 105 data science and design professionals as mentors on its platform.