BuildWithin, an EdTech startup developing software to run workplace apprenticeship and training programs, has recently raised $2.4 million in pre-Seed funding led by Dundee Venture Capital with participation from Black Capital, an early-stage fund focused on investing in underrepresented founders.
The company intends to use the funds to expand its employee base as well as fund further product enhancements.
Founded by Michelle Rhee and Ximena Hartsock, BuildWithin is a software platform that enables employers to create, manage and expand apprenticeship programs, accelerating the productivity of new workers. The software brings together end-to-end workplace monitoring, learning, task management, and real-time feedback to make apprenticeships scalable. These capabilities help businesses grow their workforce, stay in compliance, optimize salary spend and ensure workers are getting amazing on-the-job experiences.
Speaking about the company, Co-founder of BuildWithin, Ximena Hartsock, said:
At my prior tech company, we had trouble filling our tech roles, so we started an apprenticeship program. We realized that there were a lot of capable people out there who could be quickly and effectively trained to fill technology roles. Many of the team members who went through our program are now working at some of the top tech companies in the country like Google, Uber and Amazon, and others. It was this experience that inspired us to start BuildWithin and create an accelerated path to well-paid technology careers for individuals of any background, geography, demographic group or age. The beautiful thing is that our platform both solves a major talent problem for employers and creates access to new opportunities for job-seekers.
The company is an approved national intermediary with the US Department of Labor and counts Cyangate Technologies, Northern Virginia Technology Council, the DC Downtown Improvement District, and George Washington University as customers.
In addition to its seed funding, BuildWithin is the recipient of a $7.9M grant from the Department of Labor. The grant is part of the Apprentices Building America program, which seeks to strengthen and modernize Registered Apprenticeship programs and enable workers to find a reliable pathway to the middle class.
With this grant, the firm will establish apprenticeship hubs in five jurisdictions nationwide. These hubs will significantly grow the number of local residents participating in registered pre-apprenticeship and apprenticeship programs in the technology and advanced manufacturing field.
Adding further about the platform, Co-founded of BuildWithin, Michelle Rhee, said:
Employers are overlooking massive talent pools because they are working within outdated frameworks that assume candidates must have college degrees and 3-5 years of experience to be effective. By helping companies deploy apprenticeship programs, we are changing how they view candidates. In this new construct, companies are not only prioritizing potential over credential, but also building an increasingly loyal employee base.
Commenting on the investment, Dundee Venture Capital Partner, Mark Hasebroock, added:
The World Economic Forum predicted upskilling could boost global GDP by $6.5 trillion and create over five million new jobs by 2030. Clearly, this is where the world is headed and BuildWithin is on the forefront of this trend, and further, well-positioned to capture a significant piece of the corporate training – and retraining – market.
In the first 9 months of 2022, BuildWithin experienced 300% revenue growth and anticipates similar growth in the remainder of the year.