Vietnam edtech platform banks $2.5m in round led by Sequoia’s Surge

Vietnam-based edtech firm Virtual Internships said it has raised US$2.5 million in a round led by Sequoia Capital India’s accelerator program Surge. Art Impact, Hustle Fund, iSeed, and 500 Startups also participated in the round.

Virtual Internships co-founders Daniel Nivern (left) and Edward Holroyd Pearce / Photo credit: Virtual Internships

Founded in 2018, Virtual Internships works with universities, K-12 schools, foundations, governments, and companies to offer students and employees upskilling courses, mentor coaching, and guaranteed remote work placements. The edtech company runs programs across 18 career fields that are geared towards helping young people kickstart their careers and polish their digital skills.

Internships improve a student’s chances of landing a job offer by roughly 16%, according to a 2019 student survey report by the US-based National Association of Colleges and Employers. However, movement restrictions and border closures due to the Covid-19 pandemic have made it more difficult for students to apply for and take up internships.

Virtual Internships aims to circumvent these barriers by incorporating technology and best practices for remote work setups.

“Digitalization has completely accelerated the way we work with people across the globe and internships should mirror this pattern,” Virtual Internships co-founder and CEO Daniel Nivern said in a statement.

From application and screening to accepting candidates, the entire process for internship takes place on the company’s online platform. Employers receive access to video and application screening tools, internship project templates, placement support, and content on remote team management.

Virtual Internships said it has seen student sign-ups grow to over 6,000 last year from just 100 in 2019. The company added that more than 100 universities and educational institutions and 4,000 host companies across 70 countries were taking part in its programs.

Surge recently picked Virtual Internships as part of a fifth cohort of 23 startups that the accelerator program intends to make investments in.