Microverse, an online school for remote software developers, has raised an additional $4 million in its Series A extension round from existing investors Northzone, General Catalyst, All Iron Ventures, and angels, including Github’s former COO Erica Brescia, and co-founders of Eventbrite, Kevin and Julia Hartz.
New investor True Equity, an arm of executive recruitment firm True Search, also participated in the round. The latest round brings the total Series A funding to $16.5 million.
Founded by Ariel Camus in 2017, Microverse is an online school for remote software developers where learners pay nothing until they land a job. The platform links students across the globe, with a focus on developing countries, by bringing together skills and opportunities in the fast-growing technology sector. It teaches students to code through collaborative, cohort-based learning, and offers a curated curriculum tailored to prepare them for the world of remote and international work.
Microverse offers courses in JavaScript, React, Ruby, Ruby on Rails, and computer science fundamentals. The company claims that Africa and Latin America make up 75 percent of its students. Besides teaching, the company also helps students improve their portfolio, resume, and online presence, as well as prepare for job interviews.
Ariel Camus, Founder & CEO of Microverse, said,
“This extension to our Series A validates the progress we’ve been making in helping to build a skilled workforce that is ready to tackle the challenges the job market is currently facing, such as the talent shortage. Our mission is to provide the world’s untapped talent with high-quality education and match them with companies in desperate need of digital talent. We want a million people from developing countries to be part of the global remote workforce by 2030.”
The new funding has more than doubled Microverse’s valuation and will enable the company to keep building on its mission of connecting international talent to job opportunities worldwide. The investment will also allow the company to continue to scale and meet soaring demands. In addition, the company expects to double its team over the next 18 months to continue helping unlock more of the world’s untapped potential.
Hugh J. O’Donnell, Managing Partner at True Equity, said,
“True Equity invests in companies that want deep relationships with top leadership talent. Ariel and the team at Microverse recognise the critical role talent plays in company growth, and we’re excited to partner with them on this journey.”
Microverse believes that the place where people in should not determine their opportunities in life. It provides access to global opportunities by offering world-class education. Its business model is explicitly designed to support students to learn as part of distributed teams working remotely.
Microverse claims to witness the number of applicants to its programme surge from 10,000 to 30,000 every month last year, and over 1,500 students from over 140 countries have gone through the programme, with a job placement rate of over 90 percent within six months. The company further claims that its graduates receive an average salary increase of 300 percent once they complete their studies. Deloitte, HSBC, and Microsoft are among over 400 companies hiring Microverse alums.
