International Edtech Startup Company Ironhack Raises $20 Million in Series B Funding

By James White Wednesday, January 27, 2021

The international edtech startup company Ironhack, based out of the city of Miami in the US, succeeded in raising $20 million in a Series B round led by Lumnos Capital Group, which invests in “the future of learning and work.” Other investors in the business included firms Endeavor Catalyst, Brighteye Ventures, and Fundacion Creas.

Multiple computer coding screens.

International Coding Education Business

The edtech company has a total of nine in-person campuses located internationally from Amsterdam to São Paulo, in addition to an online remote learning platform. The business covers an array of courses to pursue, including web development, data analytics, UX/UI, and cybersecurity. Prices for the programs from the startup company vary by region.

“It sucks that we’ve been learning the same way since the Industrial Revolution, so we empower students to find meaningful careers in Web Development, UX/UI Design and Data Analytics by offering immersive learning experiences to extremely motivated people,” Ironhack’s website states.

Co-founded by entrepreneurs Ariel Quiñones and Gonzalo Manrique in 2013, the startup company seeks to empower those aiming to break into the tech industry by providing intensive and hands-on coding training. Quiñones and Manrique both graduated from the Wharton School of the University of Pennsylvania with MBA degrees.

The recent funding round brings Ironhack’s total funding number to $27 million, according to Crunchbase. Funds from the last round will be directed toward developing more online options for remote learning students.

Coding Bootcamps on The Rise

The market for educational startups like Ironhack is on the rise, especially in the coding sector. According to market research, the coding bootcamp industry was worth an estimated $309 million in 2019. Other companies in the industry are bringing in large sums from investors. Lambda School, another online coding bootcamp business, has amassed $122.1 million in total funding. Furthermore, $803 million was raised by US edtech startup companies and businesses in the first half of last year.

“We believe that practical skills training, a supportive global community and career development programs can give everyone, regardless of their education or employment history, the ability to write their stories through technology,” Quiñones said to TechCrunch.

Summary

Ironhack, an edtech startup company and coding bootcamp business, successfully raised $20 million in funding from investors in its latest Series B funding round. The coding bootcamp industry is receiving impressive backing from investors, so businesses in the sector will likely see strong growth in the future.

About the Author


Headshot for author James White

James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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