Mentoring start-up raises $1 million and wins Olympic contract

Mentorloop finalised a $725,000 capital raise on Tuesday bringing the total funds raised for the mentoring software platform to $1 million.

The seed round was raised from venture capital firms Blackbird Ventures, Rampersand and Tempus Partners and Mentorloop will use the funds to accelerate its growth including a partnership with the Australian Olympic Committee.

Mentorloop was launched last year by 35-year-old friends Lucy Lloyd and Heidi Holmes.

The platform enables businesses to start, run and measure mentoring programs.

Starting up over a glass of wine

“Four years ago we caught up over a glass of wine as you do with friends,” says Lloyd. “We started talking about ‘Wouldn’t it be great when you were navigating a new challenge in your career to have some sort of sherpa for your career?’ We wondered aloud why there wasn’t a dating site for mentorship and that life-changing relationship that makes you take the next leap in your career.”

Mentorloop works by businesses putting out a call to action asking who wants to be mentored, people put their hands up and the program then collects data from them by asking tailored questions. Read more

Cara Waters – Brisbane Times – 27 Nov 2017