San Francisco-based Lambda School is a computer science academy founded in 2017 that has a unique model for higher education. The school invests in students instead of the other way around. This means that the Lambda Schools provides free upfront tuition costs that do not have to be paid back until the students find a high-paying job.
This model also ensures that talent is trained for the most in-demand jobs in the world rather than an enforced curriculum that does not necessarily prepare students for the real world.
“We chose to work with these new funding partners because we all have a desire to fundamentally fix how we teach and train software developers,” said Lambda School CEO and co-founder Austen Allred. “This new model has proven effective with each of our graduating classes, and we’re grateful to have the support of so many investors who see the value in our approach.”
Lambda School recently raised $14 million in Series A funding led by GV (formerly known as Google Ventures). Stripe also participated in this round.
“Lambda School is expanding access to first-rate developer education,” added Stripe co-founder and CEO Patrick Collison. “We love programs that spread opportunity to people who have been overlooked and underserved. Enabling more people to take advantage of the possibilities of software and the internet is a pursuit that’s firmly aligned with Stripe’s mission.”
This round of funding will enable Lambda School to change the way software engineers and data scientists are trained. And Lambda School will also be able to expand course offerings, continue its commitment to providing education to individuals interested in software development, and meet the demands of incoming students.
“Lambda School’s approach to alternative education democratizes access for anyone aspiring to become a full-stack software engineer,” GV partner Shaun Maguire explained. “Lambda School’s business model is innovative in their category and the company has scaled rapidly. We’re excited to work with Austen Allred and the team as they continue to bring online software engineering education to more people.”
So far, more than 75 Lambda School graduates have been hired including 83% of early cohorts and the school saw an average salary increase of over $47,000 per hired graduate. Lambda School is hoping to increase the number of students hired as it is working to build out a more advanced hiring network and continue adapting a curriculum to teach the skills employers need in new hires today.
As of right now, the coding school has 700 students enrolled. Lambda School also recently launched courses in iOS Development, Android Development, and UX Design.