American Student Assistance Invests $2.5 Million into Springpod to Expand Work-Based Learning Opportunities for Young People in the U.S.

BOSTON, Oct. 28, 2024 /PRNewswire/ -- Springpod, a leading provider of free virtual work-based learning experiences for students, has secured a $2.5 million strategic investment from American Student Assistance^® (ASA) to support its expansion in the U.S. As part of this growth, Springpod has officially changed its legal domicile, establishing itself as a U.S. company.

A national nonprofit at the forefront of changing the way kids learn about careers and prepare for their futures, ASA recognized the need to significantly increase access to meaningful work-based learning opportunities. ASA identified Springpod as a best-in-class solution to enhance educational and career pathways for young people in the U.S., following Springpod's rapid growth and success in its UK home market.

Springpod partners with universities and employers to provide students with free access to online work-based learning experiences, helping them explore and prepare for future careers. With over 700,000 students having already benefited from Springpod's programs—22% of whom are eligible for free school meals, 55% from minority backgrounds, and 60% female—the platform ensures equitable access to career readiness opportunities with leading employers and universities.

Having changed its legal domicile to the U.S., Springpod is now better positioned to fulfill its mission of providing impactful work-based learning solutions at scale. The company's network includes more than 100 partners, including Airbus, Amazon, Siemens, Meta, JLL, and Barclays. ASA's strategic investment will fuel Springpod's U.S. expansion, positioning it to support American students and young people through its innovative digital offerings.

"The quality of Springpod's experiences impressed us deeply, and we're excited to support their efforts in increasing access to invaluable youth work-based learning experiences in the U.S.," said Rilwan M., Head of Impact Investments at ASA. "Far too many young people are graduating from high school without having completed any sort of work-based learning experience needed to help them make informed, confident decisions and navigate a path to postsecondary education and career success. Springpod is perfectly positioned to address this challenge at scale."

Driving Impact in the U.S.

Springpod has already garnered support in New England from major employers, colleges, and school districts. Set to launch in early 2025, Springpod will introduce localized content for U.S. students, including an immersive 3D virtual learning environment that will allow students to develop essential skills for the modern workforce.

Sam Hyams, CEO of Springpod, commented: "This investment is a pivotal moment for us. The demand for our virtual work experiences has grown significantly, and ASA's expertise will enable us to deliver our programs to U.S. students on a much larger scale. We look forward to leveraging their leadership in K12 career readiness as we continue to grow."

About Springpod

Springpod empowers students to demonstrate their potential through work-based learning experiences and connect with best-fitting employers and universities. Springpod partners with governments, universities, and leading brands such as Amazon, Siemens, and Barclays to bridge the gap between education and careers, ensuring every young person can select and secure their brightest future. To learn more, visit https://partners.springpod.com.

About American Student Assistance® (ASA)

American Student Assistance^® (ASA) is a national nonprofit changing the way kids learn about careers and prepare for their futures through equitable access to career readiness information and experiences. ASA helps middle and high school students to know themselves—their strengths and their interests— and understand their education and career options so that they can make informed decisions. ASA fulfills its mission–in schools and beyond the classroom–by providing free digital experiences, including Futurescape^®, Next Voice™, and EvolveMe^®, directly to millions of students, and through advocacy, impact investing, thought leadership, and philanthropic support for educators, intermediaries, and others. ASA fosters a generation of confident, crisis-proof young people who are ready for whatever path comes next after high school. To learn more about ASA, visit www.asa.org/about-asa.

SOURCE American Student Assistance (ASA)