Co-founder Garret Lord told Fortune.com that he and his team specifically chose to focus on the untapped market that job portal giants don’t: universities and colleges.
Handshake’s software powers a branded recruiting site for universities that allows students to upload their coursework, resumes, transcripts, and other documents. Students can search and apply for jobs, message recruiters, and access event listings.
As of February this year, 60 universities—including Princeton, Johns Hopkins, Stanford, and Cornell—started using Handshake to exclusively power and manage their career services online. In six months, that number increased to 170 universities, and 3 million students. The company expects to add 200 more colleges and universities next year.
This year the number of student users has climbed to 1 million.
According to a statement on Handshake’s website, the new funding will be used to develop more tools for college career centers and employers, as well as for building new mobile technologies for students.