Pando (303 Holdings, Inc.), a technology company focused on managing career risk, raised over $8m in Series A funding.
The round was led by Core Innovation Capital with participation from Pear VC, Avalon Ventures, Ulu Ventures, Nimble Ventures, Stanford StartX Fund, WTI and Slow VC.
The company is using the funds to develop offerings for entrepreneurs, MBA students and business professionals.
Started by two graduates from Stanford Graduate School of Business, Charlie Olson and Eric Lax, Pando provides professional athletes, specifically professional baseball players with a system which enables a group of individuals to come together and contractually pledge a small portion of future earnings – above a hurdle – to a shared pool. Total pool distributions are distributed equally. Pooling gives the benefits of diversification, spreading risk and providing upside if someone else in the pool becomes a superstar.