Investing in Chance
By Marie-Christine Levet and Alexandre Glaser
Educapital is thrilled to announce its participation in Chance’s $12m Series A round, alongside Citizen Capital. Chance’s high-impact solution is democratizing career guidance for all, offering everyone the opportunity to choose a career path in line with their dreams and aspirations. Chance’s mission is perfectly aligned with Educapital’s impact investing thesis — to support companies enhancing human potential.
The career orientation market is huge but broken
This is probably what the future of work and the organizational culture paradigm shift it comes with look like: as individuals place a greater emphasis on the meaning of their work, careers are becoming less and less linear. This phenomenon translates into raw facts: in France alone, at least one in three people change jobs every year (with 60% of people considering a radical career change). If you consider global data, this number reaches more than 900 million. And yet, when asked, more than 30% of people undergoing or willing to undergo a career change say they are afraid of making the wrong choice. Despite digital job boards and career counselling dedicated websites, navigating an increasingly fragmented job market seems a more complex mission than ever before.
We frequently feel like finding a career path in line with our deepest aspirations and our values is an impossible task. In other words, it requires guidance that is often hard to find and this results in a broken career navigation market. Existing solutions mostly focus on providing customers with career options that match their skillset and disregard the other terms of the career development equation (including values and aspirations). Worse, these solutions are expensive, time-consuming, and dedicated to executives only. Chance is changing that.
Solving the Mental Resignation equation
Chance’s frictionless, hybrid offering solves the problem in a unique fashion, by making a premium product scalable and therefore available to all. Chance’s “career therapy” is based on a thoroughly tested methodology drawing on advanced techniques from cognitive and socials sciences (psychology, behavioral economics, narrative science, sociology, etc.).
This methodology serves as the foundation of a 12-week long coaching program, delivered fully online and financeable through the CPF. Chance’s offering rests on a mix of self-coaching (up to 2hrs per week), 1:1 coaching sessions with expert coaches (leveraging a pairing algorithm that matches coaches and users in a semi-automated manner), and an online proprietary platform (on which individuals get access to curated and personalized content, employment resources, personality tests etc). Career navigation is both a lifelong process and one that requires a collaborative. This is why Chance offers a community-driven approach to its program — both for coaches and users.
An impact-driven love brand built by two accomplished entrepreneurs
Ludovic and Clémence are motivated by a high-impact mission. Their social impact theory is rooted at the very core of Chance — by making career guidance affordable and accessible to all, Chance can help fix a broken social mobility ladder. This guiding principle does not go unheeded — the objective of Chance is that at least 25% of their users earn less than €1400 net per month. And this vision resonates with our impact investment thesis: financial performance and social impact can and de facto do go hand in hand. They are proving that tech for good is not an abstract idea. In the words of Muhamad Yunnus, the honorary president of Chance: “Chance will become the household word so that people will know where to go for building up their life, giving people a Chance. It’s not just a business, It’s about changing people’s lives!”
Chance has recently launched Chance Appel Solidaire (#provoquonslachance), which brings together a community of 100 accomplished professionals committed to opening their address book to individuals with non-linear career paths. This will serve as the foundation of theChance Duo: every individual having completed the Chance program will be put in touch with a member of this community to help them open the last door between them and the future of their career.
Congratulations to Ludovic, Clémence and the entire Chance team!
