Achieve Backs Alchemy to Scale U.S. Internship Market

Achieve Partners has invested in Alchemy, an internship infrastructure platform that manages recruiting, matching, supervision, payroll, and compliance for employers, serving as the employer of record for interns. The deal extends Achieve’s earn-and-learn strategy, built around apprenticeships, into the internship market.Alchemy serves more than 1,000 employers and targets a structural gap in U.S. workforce development: more than eight million college students seek internships annually against roughly 3.6 million available opportunities, of which only 2.5 million meet minimum quality standards. The investment was structured through a combination with Ease Learning, a portfolio company in Achieve’s Workforce I fund. Matt Gurney serves as chief product and strategy officer of Alchemy, which is based in Charleston, South Carolina. Founded in 2018, Achieve closed its $450 million Workforce II fund in April 2026. Ryan Craig led the Achieve deal team.