INSUBCONTINENT EXCLUSIVE:
Goodwall, a US-focused student and graduate professional network which aims to connect young people with college and employment
opportunities, has closed a $10.8 million Series A funding raise.
The round was led by Randstad Innovation Fund, a strategic corporate VC
fund that focuses on recruitment, and Swiss private equity firm Manixer
Additional investors include Francis Clivaz, Zurich Cantonal Bank and Verve Capital Partners.
The 2014 founded startup says it will be using
the new funding to grow the professional network, which has a core demographic of 14-24 year-olds, and more thanone million members at this
stage.
&Our main initiative with this round of funding is hiring new talent in New York to support our expansion,& saysTaha Bawa, co-founder
&The funding will be used to grow our product team to provide better features for our two demographics: Highschool and college students
We are growing our sales team as well, to handle the demand that enterprises have shown in our talent.&
&The United States is our current
focus and will continue to be the focus throughout 2018
We will be growing with our students and serving them in college,& he adds
&We intend to widen the appeal to the college/post-grad segment by focusing on driving value in terms of being found easily (via a
mobile-first experience) by the companies that are interesting to them, whether they be startups or larger companies, for internships or
Beyond this, as with high school students, we will provide current college students the ability to connect and support each other.&
Goodwall
business model is based on generatingrevenue from colleges and enterprises looking to recruit students on the platform.For its target young
people, the pull is an online platform where they can connect with fellow students and try to get ahead by showcasing their skills and
experience, networking, and learning about education and employment opportunities.
Goodwall says it matches its college student and graduate
users to employers for job and internship opportunities, while its high school students get connected to colleges and scholarships.
The
startup is competing with traditional college and larger job boards but Bawa argues that its matching process offers an advantage to
employers because it screening candidates so they get more relevant applications, rather than scores of irrelevant ones which they then have
to sift themselves.
The platform generally offers employers a way to source, connect and engage with a pool of motivated students and
graduates — with employers able to pay Goodwall to get their brand in front of thetypes of students or recruits they&re looking for.
&The
typical Goodwall user is an English speaking, aspirational go-getter that is either college-bound or in college,& says Bawa
&Goodwall does not aim to only serve the 1% in terms of grades and achievements, though we have many students in this category, from
Robotics Fairs winners to Olympic Champions
Rather we strive to serve all ambitious, hardworking students and bring their uniqueness to light via our comprehensive profiles
&In high school these go-getters may not always be the best students academically, or at the college level, they may not necessarily be
enrolled at top ranking institutions
Ultimately, these are the type of students we are looking to work with and the type of talent our partner universities and companies are
looking to recruit.&
At the highschool level, Goodwall is also competing with scholarship and college matching websites but Bawa arguesit
also offers kids additional value — given the platform focus on building a community around achievements, connections and mutual
support.
The network is also of course competing with LinkedIn — certainly at the older end of its age range
But because Goodwall offers tools for high school students it hoping to get in early and build a relationship that lasts right through
college and users& early career path, by acting as &the first resume they build&
&We grow with them,& is howBawa puts it.
While the startup is taking VC funding now to focus on further building its network in the US, he
confirms it would be open to an exit to a larger professional or student focused network in the future, saying: &We&d like to continue
growing with our members.&
Commenting on the Series A in a statement, Paul Jacquin, managing partner at Randstad Innovation Fund, added:
&We&re excited to support the Goodwall team in building a new segment with college and graduate demographics after their success in creating
a unique and positive community to gain support, receive guidance and opportunities
The level of engagement on Goodwall has been impressive and unique in its community aspect
We are thrilled to bring the platform to its next chapter of growth.&
