500Startups-Backed University Mentoring Platform Launches Career Mentorship Service

University mentoring service ChaseFuture announced on Wednesday that they have launched a careers mentorship services to guide students through the job search and recruitment process. The launch coincides with a name change to ‘Dyad’.

The Shanghai-based company also announced the completion of $600,000 USD in new funding led by 500 Startups and SOSV, with participation from a NASDAQ-listed education company. These funders join existing investors, including New York-based Artesian Capital Management, Banyan Partners, and Silicon Valley-based Harbor Pacific Capital and numerous leading EdTech angel investors. This round brings Dyad’s total funding to $1 million USD.

The latest injection highlights China’s growing interest in career services. Hangzhou-based education and career information provider Quanrenjiaoyu (全人教育) was acquired by Xiuqiang Glasswork Co., Ltd. in December last year, with a total value of over 210 million RMB ($32.4 million USD).

“There’s nothing an Asian parent will spend more than making sure their child gets the very best education, especially if it means getting help from Dyad,” said Khailee Ng, Managing Partner of 500 Startups.

“Most universities offer career service but it’s difficult for students to get a lot of personalized attention or custom service,” Greg Nance, founder and CEO of Dyad told TechNode.

“While there are many startups helping young professionals with skills development, like web design or data science, we can help young people shape their career search from base principles while they are still in school and exploring their professional options.”

Dyad connects students and young professionals with 200+ mentors on Dyad.com through online face-to-face video-conferences and a digital workspace for document reviews. Students can connect at their convenience by scheduling consultations or revisions according to their availability, and consultation fees vary based on the duration of the video-conference and mentoring frequency. Mentors are from the world’s top universities and firms such as Google, JP Morgan, Goldman Sachs, McKinsey & Co and numerous others.

Since their founding at Cambridge University in 2012, the company has focused on top university mentorship and helped over 1,700 clients earn admission to universities in 23 countries. The company claims 37% of clients are admitted to a ‘Top 25 University’ and 135 admissions to Ivy League universities.

In the test preparation market, there are Chinese players like New Oriental (新东方), offering private educational services and TAL education, offering K-12 after-school tutoring services.

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