CoderSchool closes US$2.6 million pre-Series A funding
CoderSchool, a coding school focused on full-stack web development, machine learning, and data courses in Vietnam, has announced closing a US$2.6 million pre-Series A round led by Monks Hill Ventures.
Also joining the round are returning seed investors Iterative, XA Network, and iSeed Ventures.
The coding school 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% quarter-over-quarter growth in fully-online enrolments.
There is a huge tech talent shortage in Southeast Asia, with a shortfall of 500,000 IT personnel in 2021. The demand for IT talent is increasing quickly by 47% a year, while supply only increases by 8% year-on-year.
"Coding is the future. At CoderSchool, we believe everyone in Southeast Asia deserves a chance to be part of that future," says CoderSchool CEO and co-founder, Charles Lee.
"We're 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."
CoderSchool currently has over 2,000 alumni. Over 80% of its full-time graduates found employment within six months at leading companies including Momo, Tiki, Shopee, Microsoft and FPT Software. On average, CoderSchool alumni earn 30-40% above published industry averages for entry-level software engineers.
"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," says Monks Hill Ventures partner, Michele Daoud.
"We've known Charles and the CoderSchool team since their start and have been impressed by their focus on setting the standard for coding education in the region. We're excited to partner with CoderSchool to provide opportunity and access to the millions of aspiring students in Vietnam."
The CoderSchool experience focuses on three key pillars:
- Human-driven learning: CoderSchools tools focus on enabling students to interact with instructors and classmates before, during, and after scheduled class sessions.
- Data-driven teaching: Teaching online enables software to automate most of the operations of day-to-day teaching, including student progress tracking, submission grading, class attendance, and course personalisation. CoderSchool currently employs 15 instructional staff and plans to hire an additional 35 more by Q4 2022.
- Career-driven journeys: CoderSchool works with both students and Vietnam's tech industry to assist students in finding the right job after graduation. Support includes career counselling, mock interviews, mentor introductions, and workshops with technical experts.