Monk’s Hill Ventures led a US$2.6 million pre-Series A round of funding for CoderSchool, a Vietnamese startup that provides online coding courses.
Iterative, XA Network, and iSeed Ventures are among the returning investors.
The funds will be utilized to expand CoderSchool’s technical education programs by providing more instructional material and technological infrastructure. To complement online operations, it also aims to recruit an additional 35 instructional workers by Q4 2022.
“We’re obsessed with creating an exceptional remote-first learning experience with better results, for more people, at a lower cost,” said CEO Lee. “Coding is the future. At CoderSchool, we believe everyone in Southeast Asia deserves a chance to be part of that future.”
Data analytics are used in CoderSchool’s centralised platform to administer classrooms at scale and improve individual student performance. It also allows software to automate time-consuming teaching tasks such as student progress monitoring, submission grading, class attendance, and course personalization.
Students will be placed in jobs thanks to the startup’s support in career counseling, mock interviews, mentor introductions, and seminars with technical specialists.
Over 80% of CoderSchool’s full-time alumni found work within six months of graduation at top local and international IT firms including Momo, Tiki, Shopee, Microsoft, and FPT Software.
“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,” said Michele Daoud, partner at Monk’s Hill Ventures.
To far, CoderSchool claims to have graduated over 2,000 students and tripled the number of students enrolled.
Vietnam presently lacks 500,000 IT workers, particularly high-skilled engineers, according to a research from Vietnam’s IT recruiting portal TopDev. Meanwhile, just around 5,000 IT students graduate from colleges each year, with training programs that do not completely fulfill the needs of businesses.