The three-sided marketplace offers a comprehensive solution to skilled worker shortages
SkillPointe, LLC, a three-sided marketplace helping to solve the country’s prevalent skilled worker shortage, announced the closing of a $2.25 million Series B-3 financing round. The Presidio Group LLC (“Presidio”), the leading investment bank to the automotive retail and consumer mobility sectors, served as exclusive financial advisor to SkillPointe.
Latest Fintech News: Daily Fintech Series Roundup: Top Fintech News, Analytics and Insights
“There is a disconnect between the job market and our higher education system,” said Todd Wilson, SkillPointe founder and Managing Partner. “Many skilled trade jobs do not require a four-year degree but a much shorter training or certification program offered by a community college or technical institute. Job seekers need a way to find these opportunities, and companies are in desperate need of a way to connect with these skilled individuals. SkillPointe is a one-stop shop where job seekers can pick their career path, find the necessary training, and connect with employers in their local market with specific demand for those relevant skills. With this additional funding, we can expand our network on all fronts.”
“Skilled trades aren’t celebrated as they should be and resources aren’t allocated to highlight the opportunities those careers present. We want to elevate these jobs by offering training, advice, and even scholarships so millions of job seekers can find a more fulfilling career,” said Jim Franchi, CEO of SkillPointe. Mr. Franchi added, “This new funding will be used to expand SkillPointe’s network of educational institutions, engage more employers, and market to job seekers.”
“Working with the professionals at Presidio, whose network of potential investors is both deep and diverse, was a real pleasure. We could not be more pleased with the outcome,” he said.
Finding the right person for the job has become increasingly difficult in the U.S., where 2.3 million skilled trade jobs are expected to be added annually through 2025. Despite a 50 percent rise in skilled trade job postings compared to pre-pandemic levels, those seeking new jobs or looking to change careers aren’t always aware of the options and training that are out there.
Latest Fintech News: Arteria AI Announces Strategic Investment Co-Led by Citi SPRINT and BDC Capital
“There is a huge unmet need for skilled trades in the U.S. and no convenient platform to provide information on what those jobs are, how to receive training and certification, and find employment,” said Keith Style, managing director of The Presidio Group. “This need exists in the automotive industry, where we have our roots, and across many other industries. The investors in SkillPointe saw its potential for enormous growth.”
“SkillPointe’s unique three-sided marketplace is an ingenious way to bring the three key players in the skilled trades market together,” said Brodie Cobb, Presidio’s founder and CEO. “We saw how this solution added value for many industries, including automotive. Our Auto Retail Services team seeks companies with this kind of innovative technology on capital raises and partnerships.”
The Presidio Group provided exclusive financial advisory services to SkillPointe, LLC through its wholly owned investment bank, Presidio Merchant Partners LLC.
Latest Fintech News: Digital Asset Liquidity Innovator Tritum Raises Seed Round
[To share your insights with us, please write to sghosh@martechseries.com]
