Clasp aims to innovatively tackle workforce
shortages, student debt, and talent retention
BOSTON, Sept. 17,
2024 /PRNewswire/ -- Stride Funding, now
rebranded as Clasp, has closed an oversubscribed venture round of
more than $10 million led by
$4.6 billion venture firm Crosslink
Capital, bringing its total funding to over $30 million. Other new strategic investors
include SHRM and individuals like Marc
Weill whose family is known for their contributions to
leading healthcare institutions.
Clasp's retention-driven recruitment platform addresses talent
shortages by helping employers recruit and retain critical talent
in hard-to-hire fields, with a focus on reducing student debt and
fostering long-term commitments between employers and employees.
The rebrand reflects Clasp's evolving mission to solve recruitment
and retention challenges through a forward-looking approach that
benefits both sides of the employment equation.
Supporting more than 10,000 individuals on its platform, Clasp
is currently focused on the healthcare industry with partnerships
with healthcare systems ranging from academic, pediatric, home
health, optometry, and veterinary organizations. Clasp also works
with one of the largest semiconductor companies and has plans to
expand into other hard-to-hire industries as the company grows.
According to the American Hospital Association, by 2026, the
U.S. will need to hire an additional 3.2 million new healthcare
workers to meet growing demand and support patients. Clasp's
innovative model addresses this issue by forming strong, lasting
bonds between employers and employees. Clasp widens candidate pools
across a national network of universities and training programs,
matching current students with healthcare institutions that commit
to repaying their student loans across a multi-year work
commitment.
Shaughn Korpalski, Senior Manager
of Campus, Branding, and ED&I at MyEyeDr., shared: "We've
proudly partnered with Clasp for the past two years, and the growth
has been remarkable. As our collaboration has evolved, we've
successfully increased our candidate pool while building a strong
pipeline of healthcare professionals to meet our long-term goals.
This program strengthens our dedication to ensuring the financial
well-being of our talent, as well as maintaining high-quality care
for our patients."
For students, Clasp provides financial relief, a future
unburdened by student loan debt, and the assurance of a job after
graduation. For healthcare institutions, Clasp delivers a steady
pipeline of committed talent, from nurses to radiologic
technologists to respiratory therapists—while reducing recruitment
costs, eliminating the need for signing bonuses, contract labor,
and more.
"The healthcare recruitment system is broken," said Tess Michaels, founder and CEO of Clasp.
"Healthcare institutions are competing for a shrinking talent pool
and using band-aids like sign-on bonuses that don't improve
retention and just perpetuate a leaky bucket. At the same time, new
clinical talent faces massive debt and long waits for loan
forgiveness. Clasp addresses both problems with a model that's
better for everyone."
"Clasp is fundamentally reshaping how we solve some of the most
pressing workforce challenges of our time," said Gabby Contro,
Partner at Crosslink Capital. "Their ability to align educational
investment with career advancement not only addresses the student
debt crisis but also creates a sustainable, high-impact solution
for industries struggling with chronic talent shortages. Clasp's
model isn't just innovative—it's transformative, and we are proud
to back their bold vision to revolutionize recruitment and
retention across healthcare and beyond."
The new company name, Clasp, was created by A Hundred Monkeys,
and the new brand identity was developed by Mackey Saturday, known
for his work with brands including Instagram and Affirm.
To learn how Clasp is changing the recruitment and retention
landscape, visit www.clasp.com.
About Clasp
Clasp, a retention-driven recruitment
platform, was founded by Tess
Michaels in 2018 to tackle critical talent shortages in
hard-to-hire fields by bridging the gap between education and
employment. By enabling employers to invest in future talent where
it matters most—easing overwhelming student debt—Clasp creates
lasting bonds between employers and employees. Clasp believes
employers having a stake in the cost of education leads to a more
sustainable, equitable, and skilled workforce. Clasp works with
current students in higher education to match them with companies
nationwide looking to fill critical roles across their
organization. Once matched, the organization agrees to pay some or
all of the student's future loan payments over a specified work
commitment. To learn more about Clasp, please visit
www.clasp.com.
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SOURCE Clasp