CoderSchool, an online coding school start-up based in Ho Chi Minh City, Vietnam, today announced $ 2.6 million in pre-series A funding to develop its platform for online coding school.
This round was spearheaded by Monk’s Hill Ventures, with participation from return start-up investors Iterative, XA Network and iSeed Ventures. CoderSchool raised a funding round led by TRIVE Ventures in 2018.
CoderSchool will use the funding to accelerate the growth of its online education platform and the expansion of its technology infrastructure for the company’s technical education programs that secure employment after graduation.
The company, founded in 2015 by Charles Lee and Harley Trung, who previously worked as software engineers, switched from offline to online in early 2020 to provide high-quality technical training for everyone. , all over. After moving to a fully online learning program, the company saw 100% quarter-over-quarter (QoQ) growth in fully online enrollments, she said in a statement.
âCoding is the future. At CoderSchool, we believe everyone in Southeast Asia deserves a chance to be a part of this future, âsaid Lee, co-founder and CEO of the company.
In Vietnam, the demand for IT talent is growing dramatically by 47% per year, while the supply is growing only 8% year on year.
âThe need for strong engineers and developers in Southeast Asia has never been greater relevant as is the case today with the growth of technology companies and digital businesses, âsaid Michele Daoud, partner of Monk’s Hill Ventures. âWe were impressed with the team’s focus on setting the standard for coding education in the region. We are delighted to partner with CoderSchool to provide both opportunity and access to millions of aspiring students in Vietnam.
Given the high demand for engineers in Vietnam, the size of the domestic market is estimated to be between $ 100 million and $ 200 million, and continues to grow every year, according to Lee. CoderSchool has focused on Vietnam for six years, but plans to enter the global market after the next cycle, Lee said, without providing a specific timeline.
CoderSchool, which offers comprehensive web development, machine learning and data science courses at a lower cost, has trained over 2,000 alumni to date and achieved over 80% on-time graduate placement rate full, getting jobs at companies such as BOSCHE, Microsoft, Lazada, Shopee, FE Credit, FPT Software, Sendo, Tiki and Momo.
CorderSchool’s online program allows students to interact with instructors and classmates before, during and after scheduled class sessions through its human-centered learning strategy. CoderSchool currently has 15 teachers and plans to hire 35 additional instructors by Q4 2022.
CoderSchool’s data analysis improved individual student performance while allowing CoderSchool to increase its class size on a large scale, reaching a peak of 107 enrollments in a data science course.