Dealflow | March 5, 2024

Stepful scores $12 million to upskill workers for entry-level healthcare jobs

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, March 5 — Detroit-based Stepful has provided on-line and in-person training for medical assistant, pharmacy, ultrasound technician, and other healthcare jobs. More than 3,000 trainees have gone on to fill entry-level positions at CVS pharmacy, Walgreens, Northwell Health and NewYork-Presbyterian, among other employers.

More than half of Stepful’s graduates identify as Black or African American; a majority are women of color. “Our mission goes beyond training; it’s about creating pathways to prosperity from those in underserved communities,” said Stepful’s Carl Madi.

Stepful connects graduates with new jobs within an average of two months. Trainees receive a full tuition refund if they don’t get a job offer within six months. Stepful says graduates have reported an average 25% increase in their salary. 

Edtech X healthtech

Alleycorp Impact, the early-stage impact venture fund of tech billionaire Kevin Ryan, led the Series A round. San Francisco-based edtech investor Reach Capital reupped via its $215 million fourth fund.

Other participating investors include Y Combinator, SemperVirens, Company Ventures, Green Sands Equity and 01 Advisors. AlleyCorp’s Tanya Beja will join Stepful’s board of directors.