San Francisco-based Microverse has expanded its Series A funding to 4 million, thanks to new investors True Equity (a division of executive search giant True Search) and Northzone, who both joined existing investors General Catalyst, All Iron Ventures, and business angels in the investment.
This raises the total funding for the round to $16.5 million. Microverse is an edtech startup that is headquartered in San Francisco.
Scale up plans on cards
Microverse has expanded their business thanks to the new funding, raising their valuation more than double. The edtech company plans to add more employees in the next 18 months, while continuing to connect international workers with job openings around the world. The investment will help Microverse scale and improve their service, as demand for their product is increasing.
Microverse is a company that provides high-quality education to people around the world who have talent but no access to quality education. Its goal is to help build a workforce of a million people from developing countries who can work remotely by the year 2030. Microverse raised its Series A round of funding, which indicates that the company is making progress and ready to tackle many of the job market’s current issues, such as the lack of talent. The company was founded by Ariel Camus, CEO and founder of Microverse.
True Equity invests in companies that want to work with top talent, said Hugh J. O’Donnell, Managing Partner at True Equity. Microverse and its team recognize the importance of talent in business growth, according to Hugh J. O’Donnell, and we are thrilled to be working with them on this venture.
Focuses on remote software developers
Microverse is a online school for remote software developers, with students from all over the world connecting and learning. The school was started in 2017 in San Francisco, and unlike most other coding schools, students do not have to pay anything until they get a job that changes their life. Microverse focuses on helping people from developing countries find skills and jobs in the rapidly expanding tech sector.
Code Camp offers collaborative, cohort-based learning, and teaches students how to code. The curriculum is focused on getting students ready for remote, international work in Africa and Latin America, where 75% of the students are located.
Over 90% of the job offers that students at the company get are for jobs that can be done remotely. The company believes that a persons place of living should not limit their career opportunities, and so provides top-notch education across the globe. The business model of the company is designed to allow students to work as part of remote teams, rather than in-house.
Over 1000 students from over 140 countries have participated in the Microverse program since it started a year ago. Every month, the number of applicants to the edtech startup program jumps from 10,000 to 30,000. Since the inception of the program, graduates have received an average salary increase of 300%. Some of the alums have been hired by Microsoft, Deloitte, and HSBC, among other companies.
