A network of tech career-training schools has raised a $100 million seed funding round. Group 11 led the round, with participation from Target Global, Pitango Venture, Dynamic loop Capital, Sir Ronald Cohen, and a number of additional strategic investors. The company did not reveal its current valuation.
Masterschool students don't pay upfront tuition for six to twelve months, like some of their competitors. They pay back their tuition by giving 10% of their monthly income to the company. That is a standard model for coding schools. Masterschool has partnerships with companies that will pay off tuition for students who hire themselves.
Though our students pay no upfront tuition, they are investing a lot of time in order to build a new career. They trust us to deliver the best training with the best outcomes. This is what keeps us awake at night.
Masterschool co-founder and co-CEO Miachel Shurp told me that he and Levi launched the company three years ago. The team decided to raise funding when they knew it was time to scale the company. Levi noted that the team was looking for the right investors that would align with the company's long-term mission to ensure everyone can build inspiring careers.
The team believes that Masterschool is different from its competitors because it is a network of schools. Instead of taking a traditional class, they choose a school that is run by an experienced practitioners and follow that program. The team tells me that students should spend between 25 to 40 hours per week on live lectures, assignments, one-on-one sessions, class meetings and more.
There are over one million open IT jobs in the US. We need more schools to fill this gap. That is where Masterschool comes into play. Industry leaders can build and run their schools on our platform as we build a network of career training schools. In the coming years, we will launch thousands of career-training schools, which will allow millions of students to build the career they want.
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