The new funding, led by the TELUS Pollinator Fund for Good, will focus on key drivers for growth, including machine learning, support for enterprise accounts and international expansion, while providing opportunities for underserved people. represented
CALGARY, Alberta, March 15, 2022–(BUSINESS WIRE)–Virtual Gurus, a North America-based marketplace that connects organizations with skilled remote administrative talent while providing income opportunities to underrepresented people, announced the closing $8.4 million combined non-dilutive Series A funding round to support the company’s growth. Anchored by lead investor, the TELUS Pollinator Fund for Good, and backed by other key investors including Raven Indigenous Capital Partners, The51, The Houssian Foundation and Accelerate Fund, Virtual Gurus’ cumulative funding since February 2020 now totals 10 .4 million.
Funding raised in Series A will see the team introduce machine learning to high ROI areas of the business while continuing to develop its technology platform. The company’s proprietary matching algorithm is at the heart of its technology platform, complemented by administrative, customer and virtual assistant portals that will provide every user group with a robust experience.
“Over the past year, we have witnessed the immense growth and transformation of Virtual Gurus and we are thrilled to take on the role of lead investor in their Series A round,” said Blair Miller, Managing Partner, TELUS Pollinator Fund for Good. “Virtual Gurus is on a mission to provide support and opportunities to those who have traditionally been overlooked for quality jobs and the income that results from them, which aligns closely with the Pollinator Fund pillar of creating more inclusive communities.”
“Virtual Gurus’ move into machine learning will ultimately improve the quality of work, connection, and earning capacity of their virtual assistants,” says Shelley Kuipers, Co-CEO and Chief Growth Officer of The51. “We continue to be inspired by the work Virtual Gurus does to generate impact and opportunity for underrepresented groups. The impressive trajectory of growth and scale continues to demonstrate the market value and need for what Virtual Gurus built. The51 is proud to support another woman-led success story.”
The funding will also help fuel the company’s expansion into the United States, which currently accounts for 38% of the company’s revenue, up exponentially from 3.6% nine months earlier. The operationalization of a business offer that should change the company’s growth trajectory will also be a major focus. The enterprise offering will provide large organizations with a complete administrative talent solution, from recruiting, onboarding and training assistants to coaching executives on how to maximize assistant output through effective delegation.
“One of the most exciting things for me is that we are building and growing Virtual Gurus without losing sight of our North Star – our talent from underrepresented communities,” said Bobbie Racette, Founder and CEO of Virtual Gurus. “Social impact will always be built into our business model. We are proving that we can be both a people-driven company and a technology company, and our investors are clearly aligned with this vision as well.”
Virtual Gurus creates meaningful income opportunities for people looking for an alternative to the nine-to-five office workweek, while proudly advocating for BIPOC people, people in the LGBTQ2S+ community, parents single and homemakers and those with alternative abilities. Companies such as OutTV, Borrowell, and 3Strands Global Foundation have saved time and money, increased productivity, and supported their environmental, social, and governance (ESG) goals by accessing Virtual Gurus’ monthly subscription service and taking advantage of the administrative support they provide.
“Virtual Gurus is the embodiment of alpha diversity – a founder and company that proudly expresses and reflects Indigenous values by creating a cutting-edge network effects solution,” said Stephen Nairne, Chief Investment Officer at Raven Indigenous Capital Partners.
In addition to providing access to quality work opportunities and income, Virtual Gurus also supports work readiness through the Virtual Gurus Academy. Individuals can take advantage of e-learning opportunities to improve their skills and keep up with changing technology to support their continued development as a virtual assistant.
By focusing on building and improving the company’s Talentplace platform, reducing reliance on third-party software, and replacing basic data management tools with sophisticated software to streamline process, Virtual Gurus saw 129% revenue growth in 2021 alone. They also reduced manual interventions and placed more emphasis on the online experiences of customers and virtual assistants, while recording higher sales. strengths and an increased pipeline of administrative professionals to support future growth.
About Virtual Gurus
Virtual Gurus is a talent marketplace that leverages proprietary technology to match organizations with highly skilled Canadian and American virtual assistants. Whether your organization needs a dedicated assistant, support for a special project or help with occasional tasks, we are your staff. Learn more at www.thevirtualgurus.com | Twitter | Facebook | Instagram | LinkedIn.
About the TELUS Pollinator Fund
The $100 million TELUS Pollinator Fund for Good is one of the largest business impact funds in the world and will focus its investments on for-profit companies and founders committed to driving social innovation. The TELUS Pollinator Fund for Good is an extension of TELUS’ longstanding commitment to harnessing the power of technology to drive positive social and environmental outcomes for all Canadians by funding the development of solutions to transform healthcare. health, care for our planet, support responsible agriculture and enable inclusive communities. To learn more about the TELUS Pollinator Fund for Good, please visit: telus.com/pollinatorfund.
This press release contains certain forward-looking information that is subject to uncertainties, risks, and changing circumstances beyond Virtual Gurus’ control, and reflects Virtual Gurus’ expectations only as of the date of this press release.
Images and biographies of Virtual Gurus executives are available here.
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