NEW YORK, June 9, 2021 /PRNewswire/ — Insight Partners, a leading global venture capital and private equity software investor, in partnership with SV Academy, the top training and coaching platform for high performance talent in sales and customer success, are pleased to announce the launch of the JumpStart program with the support of an approximately $1 million investment from Insight Partners. JumpStart's goal is to create career opportunities leading to more than $15 million in annual earnings potential in 5 years for diverse candidates who graduate from the JumpStart Scholarship program. As part of Insight's ongoing efforts to build a more inclusive software industry, the program will provide training and placement in entry-level Customer Success (CS) and Sales Development Representative (SDR) roles for diverse candidates new to the industry.
In any given month, Insight Partners' portfolio of more than 220 leading technology companies are recruiting, on average, for more than 400 entry-level CS and SDR employment positions in the United States. JumpStart will collaborate with Insight Partners' portfolio companies to fund training programs and apprenticeships in CS or SDR roles. The JumpStart program will provide over 300 hours of tailored training and ongoing mentoring for graduates and could lead to full-time positions for successful candidates.
CS and SDR roles offer attractive entry points to high-growth software careers. According to a recent LinkedIn report, business development and sales roles rank 4th among in-demand job opportunities, and hiring for these roles grew over 45 percent from 2019 to 2020. In a pilot program of JumpStart, launched in August 2020 in partnership with Gainsight and SV Academy, 100% of participants were offered full-time roles at Insight portfolio companies, creating $1.2 million in annual earnings growth.
"Insight Partners is committed to increasing diversity at our firm and supporting portfolio investments to recruit and retain diverse and representative teams," said Nalanie Nath, Senior Vice President, Sales and Customer Success Center of Excellence, Insight Partners. "Following our successful pilot, we're thrilled to formally launch a multi-year partnership with SV Academy to train and place exceptional candidates in high-growth careers. We support more than 25,000 Sales and CS professionals across our portfolio, and JumpStart reflects our commitment to helping our portfolio of leading ScaleUp companies hire candidates from non-traditional backgrounds and ultimately usher in impactful changes to the software industry."
"SV Academy was founded to empower high-potential underrepresented jobseekers launch careers in tech, regardless of their background," said Rahim Fazal, co-founder and Chief Executive Officer at SV Academy. "The biggest issues facing underrepresented candidates are accessing practical work experience, mentorship and employer connections. JumpStart solves these issues by providing a launching point for diverse talent, with the on-the-ground training and connections that help participants secure lucrative careers in CS and SDR roles."
"This is an unparalleled program that creates greater impact than I've seen in more than two decades in software. We are proud to partner with SV Academy to formalize a career path into software for those with nontraditional backgrounds or in underrepresented groups," said Jeff Lieberman, Managing Director, Insight Partners. "Directing stronger earnings potential to these individuals while also making software a better, more inclusive place to work reflects Insight's values."
About Insight Partners: Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has cumulatively invested in more than 400 companies worldwide through a series of funds representing more than $30 Billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
About SV Academy: SV Academy is the non-coding way to make it in America. Founded in 2017, SV Academy supports 400+ SaaS employers with a highly-connected community of rigorously trained and high-performing Sales and Customer Success talent from underrepresented backgrounds. The company's platform provides skill-building, mentorship, job placement assistance, and post-hire support, such as alumni networking events and coaching, with 60% of its graduates promoted in the first year. SV Academy was named the #2 Most Innovative Education Program by Fast Company, and is backed by OWL Ventures, Uprising, Bloomberg Beta, Kapor Capital, ReThink Education, as well as Ashton Kutcher and Guy Oseary's Sound Ventures. To learn more, visit http://sv.academy.