CareerLabs, a profile building platform for college students and working professionals, has raised $2.2 million in a new financing round as it plans to expand its platform, including a new product.
Rocket Internet’s VC fund, Global Founders Capital, invested in the Bengaluru-based startup’s pre-series A round with participation from Ajit Isaac, Founder Chairman of QuessCorp; Rohit Kale, MD, Spencer Stuart; Toshan Tamhane, Chief Digital Officer, UPL; Professors of ISB, Ghanshyam Dass- Former MD- Asia Pacific and the Middle East, Nasdaq and Abhishek Nag, Director of Business Development -India and South Asia, Netflix and other angel investors.
PN Santosh, co-founder and CEO of CareerLabs said, “India’s vision of “Make in India” leading to Aatmanirbhar Bharat can be a reality only if India leverages its demographic dividend. With CareerLabs, we strongly intend to bridge this supply-demand gap and enable one million students to learn and earn better by providing everyone a chance to achieve a successful career thereby creating a motivated workforce.”
“We are investing in building the right machine learning models with the focus on identifying the right career tracks for students and incorporating the right engagement activities resulting in successful outcomes for students,” he added.
Founded in 2019 by the ex-leadership team of BYJU’S, led by serial entrepreneur PN Santosh, Ex- Mckinsey alumnus and Ex-founding member at BYJU’s, Krithika Srinivasan from University of Michigan and Prasanna Alagesan, an alumnus of IIM Bangalore, CareerLabs is creating a profile builder platform to assist college students and working professionals realize their career paths and prepare for a life beyond college at scale and affordable price.
The startup claims to render a technology-enabled platform with a unique Career Track recommendation engine called Career Wizard, which helps CareerLabs offer suitable industry-recognized courses and certifications for upskilling. The career skilling solutions are precisely developed to make it affordable at a price that is 70 percent cheaper than similar solutions. Through an entirely planned journey including detailed profile analysis, personalized mentoring, and recruitment help, CareerLabs is helping millions of students in Tier-II and Tier-III cities to also have access to the same quality content and services.
“We are highly impressed by Santosh and the CareerLabs team and love their passion to create a better end-to-end solution for career discovery, skilling, and recruitment. We are convinced that they will have a significant impact on the lives of millions of graduates in India in the years to come, and are proud to be part of their journey,” said Roel, Partner at Global Founders Capital.
CareerLabs claims that it specializes in not just computer science track but has an extensive range of profile building Career Tracks in Electronics, Mechanical, Civil as well as Techno managerial domains covering creative and interdisciplinary domains. Soon, the brand will reach out to more than 1000 colleges covering 600,000 students and help everyone discover their dream careers with the help of its AI-enhanced career discovery engine, CareerWizard.
Commenting on the development, Shishir Gupta, Founder and CEO of StartupLanes said, “Several people lack the right career guidance when they are just starting off. Careerlabs is not only helping students in realizing their dream careers but is also helping them in acquiring the right skill set. This will have a huge impact on the Indian youth and create a more happy, satisfied workforce.”
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