We’re excited to share that earlier this year, we led Stepful’s $11.7 million Series A raise, along with our friends at Semper Virens VC, Reach Capital, Company Ventures, and 01 Advisors. Stepful is bridging the gap between unfilled, high-growth healthcare careers and tens of thousands of workers looking to break into higher-wage jobs through a digital, asynchronous, and highly effective online training and placement platform.
We’ve known Stepful’s CEO Carl Madi for several years now, both in a personal and professional capacity. When COVID restrictions dramatically slowed business for Handy’s home services professionals –– even as healthcare providers struggled to fill openings that predated the pandemic’s peak –– Carl asked the question: “Why can’t these workers break into more sustainable, high-growth careers like healthcare?” Edorado Serra and Tressia Hobeika joined as Co-Founders bringing deep technical and product expertise to build an online learning platform that drives impact and outcomes for students and healthcare partners alike.
One of Stepful’s central theses is that the traditional brick-and-mortar approach to online learning for introductory healthcare careers is too long, costly, and ineffective. While most nursing schools, community colleges, and other training providers cost up to $20,000 and can take up to 2 years, Stepful’s programs are on average 4 months and cost 5 times less, delivering 80%+ placement rates at best-in-class employers with high NPS and retention metrics. The special sauce lies in Stepful’s deep understanding of its users: the vast majority of these career switchers are women of color, low-income, and managing existing jobs and caretaking duties (either for a relative or child). Stepful’s platform –– currently training for medical assistants, phlebotomists, EKGs, and pharma technicians –– combines asynchronous modules, mobile-first design, and cohort-based learning with peer and professional coaching support, gamification, and a network of 6,000 clinical partners to deliver on a student’s professional ambitions.
Beyond a fantastic founding team and superior product offering, Stepful’s impact is very compelling: graduates see a 25%+ income boost post-program which is meaningful for working families. But this is just the start –– Stepful offers stackable credentials on top of its entry-level flagship programs to empower workers to stay ahead of the curve and advance in their organizations. Stepful’s confidence in its theory of change is so strong that it allows individuals to receive their money back if they’re not placed into a job within 6 months of graduating the program. That epitomizes customer obsession.
We could not be more excited to partner with Stepful. In the months ahead, Stepful will be launching B2B and B2G partnerships to add to its direct to consumer offering. To get in touch about partnerships with Stepful or connect with the AlleyCorp Social Impact investment team, please drop us a note.