Edtech startup CoderSchool bags $2.6M pre-seed fund

CoderSchool, a Vietnam-based edtech startup offering online coding courses, has raised $2.6 million in a pre-seed funding round led by Monk’s Hill Ventures.

Startup accelerator Iterative, investment network XA Network, and venture fund iSeed Ventures also took part in the funding round. CoderSchool plans to use the new capital to develop fresh educational content and build its technology infrastructure for technical training programs.

Founded in 2015, the edtech startup offers courses in the fields of machine learning, data science, and web development to equip students with skills that can help them land jobs. The company automates much of the day-to-day teaching operations such as tracking student progress, grading, attendance, and personalization of courses.

Simply put, CoderSchool provides programming courses for future engineers.

“The need for good engineers and programmers in Southeast Asia has soared in a evolving technology and digital landscape,” said Michele Daoud, Monk’s Hill Ventures’ partner.

According to CoderSchool, the number of students enrolling in the company’s online courses has surged every quarter since the beginning of 2020. CoderSchool has about 2,000 students and more than 80 percent of its full-time users have found jobs at big digital companies like MoMo, Tiki, Shopee, Microsoft, and FPT Software within six months after graduation.

Alumni earn 30-40 percent higher than the average wage of inexperienced software engineers, according to the startup’s representatives.

Currently, CoderSchool employs 15 instructional staff and plans to hire 35 employees more by Q4, 2022.