Pathrise, a San Francisco, CA-based online mentorship and job placement platform for tech professionals, secured $9m in Series A Funding including $5.5m in new equity capital and $3.5m in venture debt.
The round was led by Learn Capital and also included Western Technology Investment and Day One Ventures and existing investors K50 Ventures, Y Combinator, and GoAhead Ventures.
Led by Kevin Wu, CEO and Co-Founder, Pathrise is an online program for aspiring and established tech professionals, which provides one-on-one mentorship, insider knowledge, training, and advice from experts at top tech companies such as Google, Amazon, and Uber. It is built around aligned incentives – prospective employees only pay if they succeed in getting hired and start work at a top tier job.
The company intends to use the funds to invest in:
- engineering team
- development of its proprietary platform, which manages mentor matching, job searching and resource recommendation
- recruitment and onboarding of mentors,
- refining scholarship systems,
- creating affordable income share agreements and other financial innovations to improve accessibility of the program
- research projects, gathering additional job search data, including industry surveys of hiring managers, and compiling interview data though the company’s platform.