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Handshake Raises $200M to Help Gen Z Launch Careers

Handshake, the largest early career network, announced a Series F round of $200 million at a valuation of $3.5 billion—more than double its valuation in 2021. Unlike traditional professional networking sites, Handshake helps students and alumni build new relationships and skills, instead of just making connections to people they already know. Through virtual career fairs, 1:1 video chats, and direct messaging with recruiters, over 1.7 million relationships were forged between employers and candidates on the platform last year.

As a result, more students are using Handshake than any other platform to build relationships with employers. According to a recent Handshake Student Trends Survey, 37% more students used Handshake to build relationships than LinkedIn and 106% more than Indeed. That’s why employers like Google, GE, Nike, Bank of America, and Target, along with thousands of public school districts, healthcare systems, nonprofits, and even sports teams like the Los Angeles Dodgers are using Handshake to proactively find early talent from all backgrounds.

Handshake will use the new capital to deepen how it helps students build relationships and skills, including new ventures to help students earn the credentials and job-ready skills for today’s most in-demand careers. Funds will also be used to expand Handshake’s footprint in the U.S. and internationally, while carrying out its ambitious mission to dismantle outdated recruiting practices that often exclude candidates from underrepresented backgrounds.

The round, led by Coatue Management and Valiant Peregrine Fund with participation from Base10’s Advancement Initiative, among other investors, reflects unprecedented demand amidst a generational shift in the way people start, jump start, or restart their careers. In addition to Coatue, Valiant and Base10, investors include Spark, Lightspeed, True Ventures, Kleiner Perkins, EQT Ventures, GGV Capital, the Chan Zuckerberg Initiative and Emerson Collective, as well as Reach Capital, which has invested as part of a new opportunity fund.

Source: PR Newswire