New York startup Flatiron School raised a $5.5 million Series A for its coding courses that turn newcomers into professional programmers in just four months. The funding round was lead by Charles River Ventures and Matrix Partners with participation of Box Group and a group of angel investors.
Funds will be used to provide top teacher training and to experiment with courses.
Flatiron School’s co-founder and president, Adam Enbar, was an associate at Charles River Ventures when he founded the startup with Avi Flombaum in 2012.
Flatiron School’s intensive courses take place in their classrooms in Brooklyn and Manhattan and are priced at $12,000 a course. With an acceptance rate of between 8%-10% only, Flatiron School states that with its help 98% of their students find paid work after finishing the program. More than one third (37%) of the students are women. In its first 18 months the school has seen some 250 students and around 150 graduates.
Although the price might seem hefty, there are two interesting features.
- Through a fellowship program 26 out of roughly 150 graduates got their tuition covered (they have less than $50,000 annual income).
- When a graduate accepts a job offer through Flatiron School’s job placement service, they get a $4,000 refund.
Students are required to go through extensive 150 hours of pre-work before even entering a classroom. Then, code is being taught from 9 am to 6 pm, Monday through Friday. Flatiron School currently offers two courses, one iOS and one Ruby course.
So far the startup has generated revenue from tuition fees and partnerships with organizations. Of course, companies pay the Flatiron School a fee to be listed in the job placement service.
While many competitors, we recently covered General Assembly, offer at least an online component or deliver entire courses online like Pluralsight, Flatiron School believes in a brick and mortar classroom model.
- NYC’s Flatiron School Raises $5.5 Million To Teach People To Code For A Living | TechCrunch
- Flatiron School raises $5.5m to teach tech skills, place graduates in jobs | WSJ