Ironhack, the global tech school, today announced that it has secured $20 million in a Series B round led by Lumos Capital, with participation from Endeavor’s Catalyst Fund, as well as existing investors including Brighteye and Creas.
Digital transformation has rapidly accelerated by necessity amidst COVID-19, and with it, the competition for top tech talent has never been greater. At the same time, the pandemic has given rise to a need for resilient jobs in the new work-from-anywhere economy. With the pandemic estimated to increase global unemployment by 25 million by the International Labour Organization, the world needs more pathways to sustainable employment and modalities that support remote learning options for maximum student flexibility. Organizations such as the World Economic Forum have come together to launch a “Re-skilling Revolution” to train up employees. These factors have contributed to Ironhack’s swift growth and expansion, offering students and employers intensive bootcamps and immersive courses in Web Development, UX/UI Design, Data Analytics and Cybersecurity. A portion of the growth round will drive new courses and program offerings.
With campus locations in nine cities and across the United States, Europe and Latin America, Ironhack is one of the world’s top-ranked technology education institutions. The company intends to use the new capital to expand its corporate training and development programs, including talent acquisition and re-skilling. In addition, the company will increase its investment in remote learning, providing students with greater access to a world-class education in tech, as well as the career opportunities that such training affords.
“We believe that practical skills training, a supportive global community and career development programs can give everyone, regardless of their education or employment history, the ability to write their stories through technology,” said Ariel Quiñones, co-founder of Ironhack. “Lumos Capital, the Endeavor Catalyst Fund, and our partners at Brighteye and Creas share our commitment to that vision. Their support gives us the operational and financial strength to not only empower more people, in more places, but to be a strategic partner to some of the most respected companies in the world,”
“Ironhack has proven itself as a leading global brand in digital skills training across geographies that have growing labor needs,” stated James Tieng, Managing Partner and Co-Founder of Lumos Capital Group, a growth equity firm investing in the future of learning and work. “Ironhack’s outcomes-focused educational model, its deepening capabilities in remote and enterprise learning, and the market’s continuing shift to alternative forms of career preparation and professional development have positioned the company for both tremendous growth and social impact.” James has joined the Board and Lumos Principal Yichen Feng has been appointed as a Board Observer.
Since 2013, Ironhack has graduated more than 8,000 students worldwide and helped hundreds of companies hire top talent at a global scale, including Visa, Capgemini, Siemens and Santander. According to the company’s last published student outcomes data (July 2020) 89% of students found a job within 180 days of graduation.
Ironhack co-founder Gonzalo Manrique adds, “This round and our successful student outcomes demonstrate the opportunity to upskill and empower tech talent the world over. Our new investors bring tremendous education technology and global impact experience, both of which will enable our continued geographic expansion. We will become the leaders in tech education for a remote workforce by helping companies and governments across the globe acquire and re-skill tech talent, as we’ve done with partners like Banco Santander and Media Markt, to name a few. With the launch of remote learning and new program offerings, including our Cybersecurity curriculum, we’re eager and optimistic for what the future holds.”