San Francisco, California-based Edtech startup Lambda School which invests in people to help build their satisfying careers, announced on 21st August, 2020, that it has received USD 74M in a Series C funding round from a Venture Capital firm, Gigafund, which is known for its investments in companies like SpaceX. Y Combinator (where Lambda School was incubated) and Tandem Fund also participated in the round.
Announcing the funding, Austen Allred, Co-founder & CEO of Lambda School, wrote, “Gigafund only invests in companies that it believes will reshape the world’s most important industries, and we’re honored to be included in this portfolio. In conjunction with the funding, Gigafund co-founder and managing partner, Stephen Oskoui, will join our board. This new financing will support our mission to unlock student potential, regardless of circumstance, by developing career-oriented educational programs and reducing the financial risks to pursuing a better career.”
About the school
Started in the year 2017 by Ben Nelson and Austen Allred, Lambda School offers a new path to a rewarding career by providing career oriented courses to students. Presently, the start-up offers live online classes in full-stack web development & data science. According to the edtech startup the courses of Lambda School are designed after consulting top tech giants on what skills they want in candidates and include learning activities that help their students master each key skill.
According to the co-founder, Austen Allred, the school presently has around three thousand students enrolled on its platform, who are taking live classes as per their schedule programmed for different time zones. He also claims that there’s more demand than their expectation.
Talking about the fundraise, Co-founder and Managing Partner of Gigafund, Stephen Oskoui, commented, “My co-founder and I built Gigafund on the investment approach we used together at Founders Fund, focusing on ambitious entrepreneurs with a multi-decade vision for their companies. We back the world’s most transformative entrepreneurs and look forward to Lambda School leading the revolution in education that we’ve all been waiting for.”
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