Selected Snares $1.2M Seed Round
NEW YORK, NY, Selected announced the completion of a $1.2M seed financing round led by Propel Capital.
Today, Selected, the online platform that matches teachers with their ideal jobs at Pre-K to 12 schools, announced the completion of a $1.2M seed financing round led by Propel Capital, and supported by Kapor Capital and individual investors.
Selected will use the funds to invest in its technology that matches candidates and schools based on mutual fit of preferences, school culture, and pedagogy, and expand its service to new U.S. cities.
Selected partners with more than 500 public and independent schools in major metropolitan areas in the Northeast, including New York City, Newark, Trenton, Philadelphia, Camden, Washington, D.C., and Boston. Selected serves schools most affected by teacher turnover and difficulty recruiting educators to an urban classroom setting. It helps hiring managers source diverse and hard-to-find talent, such as special education, STEM, and bilingual teachers, hire a large number of teachers on-demand throughout the year, and improve long-term retention.
There are more than 3.8 million teachers, one of the largest professions in the U.S. - more than the number of lawyers, physicians, architects, and commercial airline pilots combined.
Each year, more than 500,000 teachers turn over nationally. In school districts with high poverty rates, turnover rates are more than double the national average. Attrition and a decreasing number of new teachers are causing an acute shortage. Learning Policy Institute, an education think tank, estimates that the U.S. will have 112,000 fewer teachers than its total need in 2018.
Despite intense demand, teachers still find it needlessly difficult to find a new job due to limited transparency into school qualities and teaching environments, scattered and stale job listings, and more school choice.
On Selected, teachers simply list their preferences and compatible schools contact them first.
On average, a candidate is contacted by five schools in the first week on the platform - often cutting the job search period from months to weeks. Candidates also get a dedicated coach to support them through the job search. For employers, all candidates are vetted for qualifications and intent - expediting the interview process for both parties.
"We affectionately refer to Selected as a dating app for job-seeking teachers and hiring schools," said Waine Tam, Selected's co-founder and CEO. "We believe that focusing on teacher-school fit will have a tremendous impact on career fulfillment, teacher retention, and student performance. We're excited to be working with Propel and Kapor to help us grow the platform, serve more teachers and schools in high-need areas, and make a lasting impact on the U.S. education system."
"Propel Capital invests in bold innovators creating a just and equitable future. We believe Selected is a purpose-driven enterprise with the potential to transform teacher hiring and retention, especially in urban communities," said Sarah Williams, Co-Founder and CEO at Propel Capital. "Its platform may have a profound optimizing effect on the U.S. education system - leading to more stable working conditions for teachers and, ultimately, improved learning environments for students."
"We're excited to invest in Selected due to their commitment to serving a critical need of the U.S.education system: sourcing and supporting the most relevant and diverse candidates for schools that need them the most. Addressing this social need is at the heart of Selected's mission to improve teacher retention nationwide" said Brian Dixon, Partner at Kapor Capital."
Selected is led by CEO Waine Tam, CTO Luis Pazmino, and COO Eric H. Kim.
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