Funding Details
- Awarder
- YCombinator
- Date Award
- July 06, 2022
- Vertical
- Education
- Funding URL
- View Funding Page
- Valuation
-
$0
Company Info
- Founding Year
- 2022
- Company Description
- Emerge sells online job training to the government. For example, Connecticut has allocated $840K to pay Emerge to train 140 incarcerated people to become truck drivers. The US government allocates ~$10 billion in job training funds every year, which is distributed to state and local governments, and eventually paid off to small brick-and-mortar job training programs, with horrible track records.
In just three months since launch, we’ve already signed $2.25 million in LOIs with three cities. Our first deal for $82.5K / month starts next week.
Each year, more than 600,000 individuals are released from state and federal prisons. Another nine million are released from local jails. Yet, a year after reentry, 60% of formerly incarcerated people remain unemployed. The success of Emerge creates a win-win-win situation: (1) jobs for reentrants, (2) workers for labor-starved industries, and (3) reduction in crime and recidivism.
- Market
- Education
- Coinvestors
- YCombinator
Links