Handshake, an early career network, has secured USD80 million in a venture financing round and is set to invest a tranche of the funding in the UK, supporting early careers recovery post-Covid.

The new funding round increases Handshake’s investment total to USD235.5 million and the company’s valuation to more than USD1.5 billion. This new investment reflects Handshake’s unprecedented growth, unparalleled student adoption, and a rapidly expanding market opportunity to help employers and universities embrace the virtual future of graduate recruitment.

This Series E round was led by Lightspeed Venture Partners and Spark Capital with participation from all prior investors: EQT Ventures, GGV, the Chan Zuckerberg Initiative, Imaginable Futures, Reach Capital, True Ventures, and Kleiner Perkins. Handshake also welcomed first time investors Coatue Management and Valiant Peregrine Fund.

The Handshake platform aims to tear down structural barriers in the UK jobs market and help recruiters proactively engage with candidates based on their potential and aptitude for a role rather than their background or existing connections. This means universities and students can unlock social capital and access to employment opportunities, regardless of gender, race, socioeconomic status, or type of educational institution attended.

Read more/Source: Private Equity Wire