Careers network offering virtual work experience gets £2.25m boost

Liverpool-based career network Springpod, which sources virtual work experience for pupils unable to find hands-on job placements, has raised £2.25m in Series A funding.

The Merseyside company, launched in 2018, is a specialist careers platform enabling young people to experience the world of work and university at an early stage, online.

The investment was led by Alliance Fund Managers through MSIF’s Merseyside Loan and Equity Fund, Triple Point and Cass Entrepreneurship Fund, alongside participation from existing investors.

Springpod MD, Sam Hyams, said: “This backing from top investors is a significant vote of confidence in our vision and the impact our incredible team have had collectively in a really short period of time.

“It will enable us to support hundreds of thousands more students, expand to new geographies and get us closer to that goal of giving every young person the ability to transform their future.”

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More than 5,000 young people join the platform each week and the firm hit the headlines when 16,000 pupils turned to its virtual work experience during spring half-term because of the pandemic.

The initiative – with more than 2,200 schools and colleges signing up – offers opportunities in various industries including the NHS, teaching, finance, engineering, journalism and law.

Hospitals and companies such as Vodafone, Nestle, Jaguar Land Rover, Airbus and Heathrow Airport are some of the companies involved who offer placements and on-the-job insights for pupils aged 13 to 24.

The company, which has already helped 150,000 young people gain virtual work experience, said a fifth of students recently placed come from low-income families.

Following the new investment, Springpod aim to connect a further 500,000 UK pupils with virtual work experience and start to export their service to Europe and the US.

Business Live – North West