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Stride Funding Secures First Of Its Kind $30 Million Facility With Silicon Valley Bank To Support Sv Academy'S Upskilling Programs For Underrepresented Learners

Oct 21, 2021•over 3 years ago

Amount Raised

$30 Million

Description

Stride Funding Inc. secured $30 million of low-cost education financing from Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, to fund the high-growth asset class of outcomes-driven funding products. The warehouse credit facility will be used to fund upskilling programs for graduates of SV Academy, the premier skills and employment platform for jobseekers transitioning into technology sales and customer success careers.

Company Information

Company

Stride Funding

About

Stride Funding is an outcomes-driven funding platform that supports students and creates transparency around outcomes across alternative and higher education. Stride offers flexible products like deferred tuition agreements (DTAs) as an alternative to private student loans. Stride has a dual-pronged go-to-market strategy and connects with students through a host of bootcamp and university partnerships as well as direct-to-consumer channels. The company collects and analyzes meaningful earnings data across a diverse set of customers over time and seeks to drive alternative credit underwriting to transform who can gain access to financial products. Stride has raised venture funding from GSV Ventures, Slow Ventures, Firework Ventures, Juvo Ventures, Flybridge Capital Partners, etc, and assembled a strong team with experiences across SoFi, Goldman Sachs, JPMorgan, Klayvio, IBM, Liberty Mutual, and Wells Fargo. Learn more at stridefunding.com.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech