Handshake Announces $80M in Series D Financing: Now Connects Community College Students to In-Demand “New Collar” Jobs
SAN FRANCISCO, Oct. 20, 2020 /PRNewswire/ — Handshake, the number one site for early talent to find a job and get hired, today announced an $80 million financing round led by GGV Capital with participation from EQT Ventures, Kleiner Perkins, Lightspeed Venture Partners, Spark Capital and True Ventures, along with Chan Zuckerberg Initiative, Emerson Collective and Imaginable Futures. The infusion of capital will enable Handshake to lead the charge in shaping the future of work by both serving an expanded universe of students across geographies and educational institutions, and building innovative solutions that revolutionize how employers attract and hire early talent to build a truly diverse and inclusive workforce.
“Since its founding, Handshake has been laser focused on delivering on its vision to democratize job opportunity by connecting employers with job seeking students at institutions of higher education, and has built a rich network of 17 million job seekers, 1,000 institutions of higher learning and nearly 500,000 employers,” said Jeff Richards, Managing Partner of GGV. “We’re delighted to join forces with the Handshake team to help the company further expand its impact by delivering innovative, industry-leading recruitment solutions and expanding into new markets.”
Expansion into New Markets
Handshake also announced that its platform is now available to meet the needs of approximately 6 million students who are earning valued credentials from community colleges and bootcamps. Employers in the technology, manufacturing and healthcare industries, including companies like Dell Technologies, have made it a strategic priority to recruit and hire talent from non-traditional institutions. Handshake is already working with more than 70 community college partners and is helping employers across industries actively recruit highly-skilled talent from these partner schools.
“Cuyahoga Community College (Tri-C) is committed not only to educating its students but also to providing them the tools to access internships and employment opportunities,” said Sandy McKnight, Associate Vice President of Access, Learning & Success at Cuyahoga Community College. “Tri-C and other community colleges offer clearly defined career pathways designed to meet evolving workforce needs. We are excited about working with Handshake to empower our students with the resources they need to be successful in the job market.”
In addition to expanding its offerings in the United States, Handshake also announced that it has launched operations in the United Kingdom where it is working in partnership with higher education institutions such as the University of Cambridge, University of York and University of Liverpool.
“Since day one, the vision for Handshake has been to build the largest, most inclusive community for early talent, one where no network is required, to provide members opportunities no matter where they go to school, what their background is, who their parents are or where they are located,” said Garrett Lord, Handshake Co-Founder and CEO. “The new infusion of capital will further the process of expanding our impact across the early talent landscape.”
Handshake Gains Momentum as Trend Towards Virtual Recruiting Accelerates
To meet the evolving needs of employers, students and higher education partners, Handshake recently launched an end-to-end virtual job search and recruiting solution. This year, Handshake will host over 3,000 virtual career fairs for more than 650 institutions of higher education. These virtual events will enable over 30,000 employers to manage virtual recruiting for early talent, and open virtual doors to great opportunities for millions of students.
Over the past five years, Handshake partner Tata Consultancy Services has been the second largest recruiter of IT services talent in the United States. A leading employer on Handshake, TCS has recruited early talent by building on its existing university relationships and expanding beyond its target schools to reach students across the country.
“TCS is dedicated to attracting the best talent to build a diverse workforce, and Handshake is enabling us to leverage our employee ‘ambassadors’ to spend quality time engaging in meaningful dialogue with students anytime, anywhere,” said Surya Kant, Chairman, North America, Tata Consultancy Services. “Handshake’s platform and virtual events will help us address shifts in the hiring process and achieve our goal to provide entry level career opportunities for thousands of students.”
As the future of work rapidly changes, Handshake’s robust virtual solution will continue to lead the way in helping employers access and recruit diverse early talent from across the country in a cost-effective and efficient manner, while offering students and higher education career centers a more curated, efficient experience, eliminating many of the pitfalls of in-person job fairs. According to a Handshake survey of career services administrators at higher education institutions, 53.1% of respondents believe that the efficiency and superior user experience of virtual recruiting activities will ensure that virtual fairs and events become an accepted standard practice moving forward even once students are back on campus.
“We are delighted to partner with Handshake to help our students explore opportunities and connect with employers in a virtual setting,” said Shellie Barber, Operations & Events Manager at Santa Clara University. “Handshake has found a way to maintain the value of in-person fairs while redefining the experience for a virtual format and we are thrilled with the positive feedback we have received from students who have participated in our virtual fairs.”
Handshake is the number one site for college students to find a job. Today, the Handshake community includes 17 million students and young alumni at over 1,000 colleges and universities — including 120+ minority-serving institutions. We connect up-and-coming talent across all 50 states with nearly 500,000 employers recruiting on Handshake — from every Fortune 500 company to thousands of small businesses, nonprofits, startups, and more. Handshake is democratizing opportunity and ensuring college students have the support they need to find a great job and kick-off a meaningful career regardless of where they go to school, what they choose as a major, and who they know. Handshake is headquartered in San Francisco and has offices in Denver and London, England.