Clasp

About

Clasp, formerly known as Stride Funding, is a venture-backed, mission-driven financial technology company headquartered in Boston, Massachusetts. Founded in 2018 by Tess Michaels, the company is dedicated to revolutionizing how employers attract, recruit, and retain critical talent, particularly in hard-to-hire fields such as healthcare. Clasp's innovative platform addresses significant workforce challenges by bridging the gap between education and employment. The core of Clasp's model involves partnering with employers to invest in their future workforce by easing the burden of student debt. This is achieved by connecting students and professionals with companies that commit to repaying a portion of their student loans in exchange for a multi-year work commitment. This approach not only provides substantial financial relief to individuals but also fosters stronger, more lasting bonds between employees and employers. Clasp believes that when employers take an active stake in the cost of education, it contributes to a more sustainable, equitable, and highly skilled workforce. The company supports a wide range of individuals, from those pursuing degrees in nursing and other healthcare professions to those in various other skilled trades. By facilitating these financial partnerships, Clasp aims to eliminate the need for less effective retention strategies like signing bonuses and reduce reliance on contract labor. Recognized for its impact, Clasp has been featured by organizations such as Forbes and the Society of Human Resource Management (SHRM), underscoring its role in shaping the future of education financing and talent management. The company is focused on expanding its reach beyond healthcare into other industries facing similar talent shortages, continually striving to make education more accessible and career paths more secure.