Kernel Capital and Infinity Capital led a €1.2m investment in Dublin’s Code Institute, which delivers online coding education to students around the world.
Today (30 March), Kernel Capital announced that it has invested in ed-tech provider Code Institute. Along with Infinity Capital, Kernel led the €1.2m investment through the Bank of Ireland Kernel Capital growth fund.
Founded in 2015, Dublin-based Code Institute was set up to tackle the widening ICT skills gap across Europe.
It now provides online coding education to users in Europe, the US, Canada and Singapore, with customers including BT, Facebook, Google and HubSpot. Almost 2,000 students have completed or are in the process of completing its full-stack coding bootcamp course.
Amid the Covid-19 crisis, Code Institute has seen an even greater need for remote learning. The organisation said that its online courses have been used by corporate, government and regional training boards to mobilise technical skills during the ongoing pandemic.
Kernel Capital first invested in the ed-tech start-up in 2016. Speaking about the fresh funding, Orla Rimmington, partner at Kernel Capital, said: “The spread of Covid-19 around the world has led to an unparalleled education disruption which highlights the role of ed-tech and the importance of online educators such as Code Institute.
“Kernel Capital, through the Bank of Ireland Kernel Capital Growth Fund II, is delighted to continue its support of Code Institute and its excellent leadership team through this latest investment. The investment will ensure that Code Institute is well-positioned to expand their global footprint.”
Jim Cassidy, CEO of Code Institute, added: “We are proud of what we have accomplished in just four years and we are delighted to have received this follow-on investment from Kernel Capital and Infinity Capital, and have both Cyril McGuire [of Infinity Capital] and Orla Rimmington join as board members.
“We are hungry to accelerate our European expansion and the investment will enable us to fuel our vision of setting the global benchmark for the vocational training of software developers.”
Code Institute is currently offering a free five-day coding challenge to potential students to give them an idea of what they can expect during the full-stack software developer programme.