Online tech sales academy Uvaro has closed a $12 million Series A funding round with lead investment from global multi-stage technology investment firm White Star Capital with participation by Real Ventures and BDC Capital’s Women in Technology Venture Fund .
Uvaro’s $12 million Series A capital raise will be used to scale up the company’s programming and deliver enhanced services for members aimed at creating ongoing career success. White Star, Amplify and BDC Capital join fellow Uvaro investors, Real Ventures, Generation Ventures, Garage Capital, XFund, WTI, along with executives from Oracle and Wave.
Launched on the cusp of the global pandemic by siblings Joseph Fung and Donna Litt alongside co-founderDerek Hall, Uvaro blends training, technology and work into a single career accelerator for tech sales. It is suited to solve the single biggest challenge facing North America’s tech sector: access to well-trained, work-ready talent.
By leveraging a 12-week curriculum built on the dataset of sales playbooks used by more than 20,000 sales professionals, Uvaro members ramp up in one-third the time and achieve 50 percent more quota than their counterparts.
Since launching online in January 2020, Uvaro’s sales academy has produced more than 300 graduates with an 80 percent job placement rate. Members often experience up to a 120 percent increase in annual salary. The company’s deferred tuition model and scholarship fund lower the barriers to entry to career change that disproportionately affect women of color and newcomers.
“The tech sector is the fastest-growing segment of our economy and is expected to hire more than 250,000 individuals, with revenue-generating roles representing a significant proportion of this number,” said Fung, CEO of Uvaro. “With the shift to hybrid and remote work, every employer is now tech-enabled. As a result, demand for our grads is through the roof. Our unique acceleration model is highly tuned to the needs of today’s job-seekers, employers and the future of work.”
