Lambda School raises $74M for its virtual coding school where you pay tuition only after you get a job

In the world of technology, online learning has been one of the bigger beneficiaries of the last several months, with people staying home and away from their normal routines because of the coronavirus pandemic and using that time to expand their knowledge, or more critically, figure out what to do next if they want to change careers, or have found themselves without a job.

VCs bet millions on Microverse, a Lambda School for the developing world

The student loan crisis in the U.S. has left venture capitalists searching for novel approaches to financing higher education, but can the same systems designed for helping coders in Silicon Valley get jobs at Google help underserved students in developing countries become part of a global work force?

Similar to the buzzy San Francisco startup Lambda School,  Microverse is a coding school that utilizes ISAs, or Income Share Agreements, as a means of allowing students to learn now and pay later with a fixed percentage of their future salary. Microverse  isn’t aiming to compete heavily with Lambda School for U.S. students, however, they are looking more heavily at courting students in developing countries. The startup currently has students in 96 countries, with Mexico, Brazil, Kenya, Nigeria, Cameroon and India among their most represented, CEO Ariel Camus tells TechCrunch.

Lamda Announces $4 Million in Seed Funding

Lamda closes a $4 million seed round (led by Y Combinator and Tandem Capital) that will help us fully realize our mission of finding and training untapped talent for the most in-demand careers today.

Second, we’re announcing Lambda School’s first graduating class! This initial class includes 20 students that have worked incredibly hard over the past six months to become talented and capable software engineers. We’re grateful to have had the opportunity to learn alongside these individuals, and we thank them for helping us continually improve the Lambda School experience for future learners.