Guild
FormerlyGuild Education
TypePrivate company
FoundersRachel Romer Carlson and Brittany Stich
HeadquartersDenver, Colorado
Number of employees
1,200 (2023)[1]
Websitewww.guildeducation.com
Rachel Romer at World Economic Forum Davos 2023

Guild, formerly known as Guild Education, is a private company headquartered in Denver, Colorado that is employed by Fortune 1000 companies to manage their education assistance benefits.[2] Guild works for corporate employer clients to facilitate direct payment for courses to education provider clients[3][2] and offers marketing services to the education provider clients.

History

Guild Education was founded in June 2015 by Rachel Romer Carlson and Brittany Stich.[4][5]

In June 2021, Guild Education announced a strategic partnership with 2U. [6]

In June 2022, Forbes and Bloomberg reported Guild's valuation at $4.4 billion. [7][8]

In November 2022, Guild Education reduced its office space in Denver by 50 percent.[9]

In April 2023, Guild Education rebranded as Guild, and according to Fortune, added "a new career coaching product."[10]

In May 2023, Guild reduced its staff by 12%, resulting in over 150 individuals being laid off after several rounds of restructuring.[11]

In October 2023, Guild announced that it was offering training in artificial intelligence for front line workers through its education provider clients.[12]

Business strategy

Guild Education works for large corporations and contracts with adult education providers. It offers marketing services and receives payment from schools only when students enroll.[13] The employers also get a tax break.[14]

In June 2021, CNBC reported that Guild Education seeks to profit from its expectation of automation increasing displacement of workers.[15]

Corporate clients

Guild Education clients include major corporations, including Dollywood Parks and Resorts,[16] Macy's, Inc.,[17] Sunrun,[18] Target Corporation,[19] and Walmart.[19][20]

Education provider clients

Education provider clients include colleges and universities, such as: Herzing University,[21] North Carolina A&T,[22] Pathstream,[23] Paul Quinn College,[24] and Purdue University Global.[25]

In 2021, 2U made its degree programs, courses, and bootcamp programs available to the corporations that employ Guild.[26] Google also made Google Career Certificates available to corporations that employ Guild.[27]

Shareholders and investors

In 2019, existing and new investors contributed to a Series D round.[28]

In 2021 Lumina Foundation became a shareholder in Guild Education.[29]

In 2022, Oprah Winfrey became an investor.[30]

Criticisms

In 2018, The Century Foundation contributor Kelia Washington wrote "at best, these programs are limited in their ability to meaningfully increase college access and completion, and, at worst, they can create additional barriers for employees seeking to obtain high-quality, meaningful credentials."[31]

See also

References

  1. ↑ "Forbes profile: Guild". Retrieved 29 December 2023.
  2. 1 2 "Managing Future Growth at an Innovative Workforce Education Startup". Harvard Business School Working Knowledge. March 23, 2021. Retrieved 26 March 2021.
  3. ↑ Berman, Jillian (September 25, 2019). "Why Walmart, Disney and so many other companies are paying for their employees' college education". MarketWatch. Retrieved 15 March 2021.
  4. ↑ Chuang, Tamara (3 December 2018). "Guild Education's twist on college is working for cashiers, sales clerks and others who abandoned the idea of a college degree". Colorado Sun. Retrieved 25 March 2021.
  5. ↑ McPherson, Doug (October 9, 2020). "Growth at EY winner Guild Education leads to new program, acquisition". Denver Business Journal. Retrieved 6 April 2021.
  6. ↑ McKenzie, Lindsay. "2U, Guild Tap Deeper Into Adult Education Market". Inside Higher Ed. Inside Higher Education. Retrieved August 1, 2021.
  7. ↑ McGregor, Jena. "Guild Education Reaches $4.4 Billion Valuation As Labor". https://www.forbes.com. Forbes. Retrieved 4 January 2024. {{cite web}}: External link in |website= (help)
  8. ↑ "Guild Education Reaches $4.4 Billion Valuation". https://www.bloomberg.com. Bllomberg Technology. Retrieved 4 January 2024. {{cite web}}: External link in |website= (help)
  9. ↑ Tracy, Kate. "Edtech unicorn drops half its office space in tallest Denver building". Denver Business Journal. Retrieved 12 May 2023.
  10. ↑ Hinchliffe, Emma; Crowley, Kinsey. "34-year-old Rachel Romer built Guild Education into one of the world's highest-valued female-founded startups. Now, she's expanding it beyond traditional 'education'". Fortune. Yahoo Finance. Retrieved 10 July 2023.
  11. ↑ Svaldi, Aldo. "Denver-based education tech firm Guild eliminates 172 jobs". Denver Post. Retrieved 26 May 2023.
  12. ↑ McGlauflin, Paige; Abrams, Joseph. "An education startup used by Walmart, Hilton, and Disney wants to close the AI skills gap for frontline workers". fortune.com. Fortune. Retrieved 9 December 2023.
  13. ↑ Yaffe-Belany, David. "How to Get Rich Sending Low-Income Workers to College". www.bloomberg.com. Bloomberg. Retrieved 16 December 2021.
  14. ↑ Wilson, Alexandra. "Class Act: This 31-Year-Old's Company Rocketed To A $1 Billion Valuation Helping Workers Get Degrees". Forbes. Retrieved 31 March 2021.
  15. ↑ de León, Riley (June 2, 2021). "CNBC Disruptor 50 Guild Education reaches $3.7 billion valuation amid labor shortage". CNBC. Retrieved 9 June 2021.
  16. ↑ Garvey, Marianne (9 February 2022). "Dolly Parton's theme park will soon pay for employees to go to college". www.cnn.com. CNN. Retrieved 11 February 2022.
  17. ↑ Moin, David (8 November 2021). "Macy's Boosts Minimum Wage and Benefits to Workers". Women's Wear Daily. Retrieved 11 November 2021.
  18. ↑ Pickerel, Kelly (25 August 2021). "Sunrun establishes no-cost employee education program to bolster clean energy jobforce". Solar Power World. Retrieved 11 October 2021.
  19. 1 2 Rosenbaum, Eric (August 5, 2021). "EVOLVE Target, Walmart education deals are inflection point in war for workers, says Guild Education CEO". CNBC. Retrieved 5 August 2021.
  20. ↑ La Roche, Julia (February 15, 2020). "How Walmart $1-a-day college benefit helps create a 'highly engaged' workforce". Yahoo Finance. Retrieved 15 March 2021.
  21. ↑ "Herzing University Partners with Guild to Expand Access to Healthcare Career Pathways". www.herzing.edu. Herzing University. Retrieved 28 March 2023.
  22. ↑ Academic Affairs. "N.C. A&T Partners with Guild Education to Create Mobility for America's Workforce". North Carolina A&T. Retrieved 22 October 2021.
  23. ↑ Blumenstyk, Goldie. "The Edge: As More Employers Provide Education Benefits, New Questions Arise". Chronicle of Higher Education. Retrieved 26 September 2021.
  24. ↑ Douglas-Gabriel, Danielle (September 23, 2020). "This college is responding to an often-ignored population: Working adults". Washington Post. Retrieved 15 March 2021.
  25. ↑ Yaffe-Belany, David. "How to Get Rich Sending Poor Kids to College". www.bloomberg.com. Bloomberg. Retrieved 29 March 2023.
  26. ↑ Wan, Tony (February 24, 2021). "2U, Guild Education Partner to Expand Online Education for Adult Workers". EdSurge. Retrieved 20 March 2021.
  27. ↑ Greig, Jonathan (March 11, 2021). "Google relaunching career certificates, job board and scholarship program". TechRepublic. Retrieved 26 March 2021.
  28. ↑ Wan, Tony. "A $157M Fundraise for Guild Education Births Edtech's Newest Unicorn". www.edsurge.com. Ed Surge. Retrieved 29 March 2023.
  29. ↑ Glover, Haley. "Study Shows the Benefits of Walmart Education Effort Retail Giant's Live Better U Program is Proving its Value" (PDF). Lumina Foundation. Retrieved 15 September 2021.
  30. ↑ "https://www.guildeducation.com/press/in-historically-tight-labor-market-for-frontline-workers-employers-are-investing-in-guilds-career-opportunity-platform-to-gain-a-competitive-edge/". www.guildeducation.com. Guild Education. {{cite web}}: External link in |title= (help)
  31. ↑ Washington, Kelia (October 15, 2018). "Starbucks, Walmart, and Amazon Offer "Free" College—but Read the Fine Print". tcf.org. The Century Foundation. Retrieved 23 February 2022.
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