CoderSchool Raises $2.6 Mn Pre-Series A Led By Monk's Hill Ventures The platform plans to use the funding to create more educational content and technology infrastructure for its technical education programs which guarantee employment upon graduation
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Vietnam-based CoderSchool—the coding school focused on delivering high-quality full-stack web development, machine learning, and data courses—on Thursday announced closing a $2.6 million pre-Series A round led by Monk's Hill Ventures. Also joining the round are returning Seed investors Iterative, XA Network, and iSeed Ventures.
CoderSchool plans to use the funding to create more educational content and technology infrastructure for its technical education programs which guarantee employment upon graduation. After pivoting online in early 2020, CoderSchool saw 100 per cent quarter-over-quarter growth in fully online enrollments. CoderSchool currently offers courses in machine learning, data science, and full-stack web development.
"Coding is the future. At CoderSchool, we believe everyone in Southeast Asia deserves a chance to be part of that future. We are proud to have built one of the best coding schools in Vietnam over the past six years, and now it's all about bringing that quality to an online scale. We're obsessed with creating an exceptional remote-first learning experience with better results, for more people, at a lower cost," mentioned Charles Lee, chief executive officer, and co-founder, CoderSchool.
The growth of CoderSchool's ecosystem and centralized platform has seen effective classroom management with the number of enrolled students tripling in the last seven months. The platform's data analytics has improved individual student performance while also allowing CoderSchool to increase its classroom size at scale, reaching a peak of 107 enrollments in a Data Science class, the platform said.
"The need for strong engineers and developers in Southeast Asia has never been as pertinent as it is today with the growth of tech companies and digital businesses. We have known Charles and the CoderSchool team since their start and have been impressed by the team's focus on setting the standard for coding education in the region. We are excited to partner with CoderSchool to provide both opportunity and access to the millions of aspiring students in Vietnam," added Michele Daoud, partner, Monk's Hill Ventures.
This round follows a Seed round led by TRIVE Ventures in 2018.
Today, there is a huge shortage of tech talent in Southeast Asia, and of those, a significant share is in Vietnam, with a shortfall of 500,000 IT personnel in 2021. The demand for IT talent is quickly increasing by 47 per cent a year, while supply is only increasing by 8 per cent year-on-year. At the current rate, the 100,000-engineering talent is expected to hit 1.15 million by 2024, according to a report shared by the platform.
