An Australian Edtech startup designed to solve the world’s skills shortage has today closed an oversubscribed $10M Series A raise to assist with the company’s expansion into Canada, the United States and the United Kingdom.
Known as InternMatch, the rapidly growing platform acts as the nexus between education and employment and fills vital roles with recent graduates and existing students who are looking to gain experience.
Since launching into the international market 18 months ago, InternMatch has grown its revenue fourfold, solidifying itself as one of Australia’s fastest growing Edtech platforms.
Working on a global scale, InternMatch is able to connect people across borders and industries to deliver supported internship placements and increase career readiness and training.
The capital raise was led by advisory and investment firm Henslow who believed the vision so much, they became investors themselves.
Henslow Managing Director Chris Tait said the seamlessness of the platform, where businesses and interns can search quickly and efficiently for roles that suit their unique talents and requirements, is something not seen in the EdTech space.
“The technology platform and the machine learning that sits behind the platform is a game changer for both the businesses, universities and Interns that InternMatch engages with,” said Chris.
“We had a very strong response from our investor base and increasing interest from international investors. We as a firm were impressed by the team and their clear passion to tackle the employment crisis, not just in Australia but globally, and saw the value in having skin in the game to help them achieve this outcome.”
According to a recent report, 52 per cent of Australian businesses cannot find skilled talent*. At the same time, there has been a 50% reduction in the number of entry-level jobs in the last 15 years**, making entering the workforce and developing experience even more difficult for young people.
An expert on global work-readiness and employment solutions, CEO of InternMatch Gerard Holland said that by creating a global community focused on employment and career outcomes, the platform can plug appropriate candidates into roles that are in critical demand.
“Many individuals do not have the connections, support or resources to land themselves in these skilled professional roles, and so require a foot in the door that will allow them to use their knowledge and obtain ‘real world’ experience,” said Gerard.
“Our technology vets both the candidate and host company to ensure a transparent, safe and accountable relationship is established so that both parties are empowered and can form a long-lasting professional relationship.”
To date, InternMatch has placed over 10,000 interns around the world, with Technology and Engineering related fields being the most in-demand. Over 65 per cent of interns are offered an ongoing position at the end of their placement.
The recent capital raise will allow InternMatch to grow and expand its network internationally, while another portion will go towards funding scholarships for underprivileged and underrepresented students. To learn from about Internmatch, please visit https://internmatch.io/