Guild Education headquarters in Denver, Colorado
Guild Education raised a $ 150 million Series E funding round, bringing the company’s valuation to $ 3.75 billion – more than three times its previous valuation of $ 1 billion.
“When you talk to CEOs in almost any large company, they focus on issues that depend on getting the return to work right: safety protocols, culture, support for women and parents, and most importantly – recruitment and retention.” Founder and CEO Rachel Carlson told CNBC.
On the Guild platform, users can sign up for programs from secondary school to craft, associate, bachelor’s and master’s degrees. The courses are usually flexible and do not require a student to leave school or take an exam during the working day.
Chipotle saw 3.5 times higher retention According to Carlson, the rate among students enrolled in Guild programs and frontline workers enrolled in Guild programs is 7.5 times more likely to move into management roles than peers who are not enrolled.
“For workers, education opens up economic mobility and gives them a debt-free way to acquire new skills and qualifications that are geared towards the future of work,” she said.
Guild sees an opportunity to grow among the 88 million working Americans who need to learn new professional skills to compete for jobs and replace the traditional notion that college degrees are the way to get a good job. It currently provides between three and four million workers at large employers with access to its platform, which helps companies retain workers and “further education“They take on new roles and responsibilities. Workers have access to educational benefits, including reimbursement of tuition fees and grants.
Last year, nearly three-quarters of US companies did reports a great lack of talent – the highest number in a decade.
A significant part of the domestic workforce, too faces a great threat to be displaced by automation. According to Carlson, workers with no post-secondary education – nearly 90 million Americans – become almost 80 percent of all displaced workers by 2030.
“Employers are facing a rapidly changing workforce, with major bottlenecks in areas like engineering, cybersecurity and data analytics that are only accelerating,” she said. “Since both employees and employers want to be competitive for the future of work, further qualification is quickly the logical answer.”
Guild says his new capital will be used to grow the company, double the size of its product and development team, while investing in its payments and technology platform. Investors in the new financing include Bessemer Venture Partners, General Catalyst, Foreclosure Ventures and GSV.
Correction: GV, Alphabet’s venture capital arm, is not a Guild investor. An earlier version of this story misidentified the company among its investors.
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