Careerist (a YC21 graduate) is an ed-fintech marketplace connecting motivated learners, teachers, and employers. It finances enrolment of underserved U.S. job seekers, trains them for tech jobs with software and freelance instructors, and automates their job search
Mission: Finance, train and place millions of job seekers in the US tech and beyond
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Problem: Job Market is Broken
- No job-specific skills to pass interviews
- Hundreds of job applications and rejections while job hunting
- Not enough capital to pay fro high-quality, job specific training
Solution: Edtech meets Fintech
- B2B2C Learning marketplace -> Training via software and freelance tutors
- Job application system -> Automated job hunting for job seekers, recruiting fees for employees
- Financing -> Loans, ISA&DTP, FinOps, underwriting, collections
Market
The E-learning market size surpassed $315B (with $120B in North America) in 2021 and is projected to observe 20% CAGR from 2022 to 2028 to become a trillion-dollar market by the end of 2020s (source).
Moreover, the need for job-hunting support is huge – and it’s growing.
TAM: Over 50 million people change jobs in the U.S. per year (source), equivalent to $100B+ market size by a conservative estimate. Roughly ⅔ of this market is made of junior and mid-level professionals – our target customers.
SAM: Over 5 million people in tech each year are actively job hunting (source) out of 13M total employees in tech (source), which equals to $10B+ market size by a conservative estimate. Roughly ⅔ of this market are junior and mid-level professionals, our potential customers.
Due to a high LTV, Careerist needs less than 20,000 clients to make over $100M annually.
Traction
Company is showing stable 250% growth YoY, while being profitable. End of 2022 showed $1,5m in monthly revenue & $500k+ EBITDA. Among others Intel, Google, App, Nike, and more are clients of Careerist
2019 - $1,3m / 2020 - $1,7m / 2021 - $5m / 2022 - $12m / 2023 - $25m+ (projection)
Business model
Business model is two sided:
- Students pay
- Up to $12k upfront payment
- OR a monthly deferred payment plan (loan)
- OR $1,000 commitment fee + Income Shared Agreement (15% for 24 month)
2. Employers
- Fees for candidate matching
Unit Economy
LTV - $8k / CAC - $885 (marketing +sales)
CAC payback period - 1-2 month / Gross Margin - 70%+
Marketing
Main acquisition channels as of Q4 of 2022 are Organic (35%), Referrals (25%), Google (13%), Webinars (10%), Facebook (10%), Other (under5%)
Team
Ivan Tsybaev - founder & CEO
Max Gusakov - founder & CTO
Max Glubochansky - founder & CBO
In order to indicate your interest, please fill in the FORM and we will get in touch with you.