Student placement platform InternMatch bags $10 million Series A for global plans

Intern placement company InternMatch has raised $10 million in a Series A as it looks to ramp up the global side of the business.

The round, led by Canberra, property developer Doma Group, with the company’s advisory firm, Henslow, also chipping in alongside existing investors.

The cash will support InternMatch’s expansion into Canada, the United States and the UK.

The eight-year-old business, which kick off as Outcome.Life, offering international tertiary study advice, now helps university students and graduates score a 12-week internship. Since relaunching into the international market 18 months ago, the platform has placed more than 10,000 interns globally.

The business generates revenue by charging unis and others for internship placements, as well as receiving a recruitment fee if the company involved hires the student – which they do for around 65% of placements.

Technology and engineering-related fields are the most in-demand sectors.

InternMatch CEO Gerard Holland said the platform’s global focus allows them plug appropriate candidates into roles that are in critical demand.

“Many individuals do not have the connections, support or resources to land themselves in these skilled professional roles, and so require a foot in the door that will allow them to use their knowledge and obtain ‘real world’ experience,” he said.

“Our technology vets both the candidate and host company to ensure a transparent, safe and accountable relationship is established so that both parties are empowered and can form a long-lasting professional relationship.”

Henslow MD Chris Tait said the ability for businesses and interns to search quickly and efficiently for roles that suit their talents and requirements, is something he’s not seen before

“The technology platform and the machine learning that sits behind the platform is a game-changer for both the businesses, universities and Interns that InternMatch engages with,” he said.

“We had a very strong response from our investor base and increasing interest from international investors. We as a firm were impressed by the team and their clear passion to tackle the employment crisis, not just in Australia but globally, and saw the value in having skin in the game to help them achieve this outcome.”