E-learning platform Microverse raises USD 12.5 Mn in Series A round

E-learning platform Microverse raises USD 12.5 Mn in Series A round

by Pranali Mehta

Edtech startup Microverse has reportedly raised USD 12.5 million as it continues its quest to educate worldwide students to code using its online platform that does not require any upfront cost but rather relies on an income sharing contract after the students land a job. 

The Series A funding round was led by Northzone and also saw participation from All Iron Ventures, General Catalyst, and few other angel investors. This latest round brings the startup’s total funding close to USD 16 million, cited sources close to the matter.

With many tech companies embracing remote work in the current pandemic situation across geographical boundaries and time zones, the company is gaining popularity. Microverse has now added English-speaking students from around 188 countries via its program.

CEO Ariel Camus stated that the startup has placed over 300 early graduates at tech companies including Microsoft, Huawei, and VMWare. The company allegedly has an employment rate of over 95% for its students within six months of graduation, which is major milestone for an income-share-agreement-based institution.

The startup has taken great efforts to simply and modernize its online program since its launch for ensuring the success of its students in the 10 months full-time program. Microverse’s efforts included reducing lesson segments into shorter time frames so that students start the program only when they have enough time to spare for the module.

Camus also mentioned that the startup is getting thousands of applications every month, of which only a handful are accepted to ensure productivity. The startup anticipates assisting 1,000 students through its program this year.

He further expressed that when they launch a partner program, it will open up the market by 5X. Getting 10,000 students every year won’t be hard in the times when 90% of the global population doesn’t have access to higher education, he added.

As a part of its future plans, Microverse aspires to work closely with tech companies to confirm that students have easier access to job placements after their graduation.

Source Credits: https://techcrunch.com/2021/07/01/edtech-startup-microverse-raises-12-5m-to-bring-income-share-agreements-to-the-developing-world/

 

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta dutifully walked down the slated path and worked in a chemical firm for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience in content writ Read more...