Code Institute, an educational technology company that teaches coding over the web to customers, including the staff of multinationals, has raised €1.2 million in funding to fuel an international expansion.
The funding round was led by Kernel Capital, through the Bank of Ireland Kernel Capital Growth Funds, and Cyril McGuire's Infinity Capital. Kernel first invested in the business four years ago.
Code Institute was founded by Irish businessman Anthony Quigley in 2015, and it offers online coding courses through distance learning. It claims to have set up the first university-accredited coding "bootcamp" in Europe.
The company is also backed by the State through Enterprise Ireland, which designated it as one of its high performing start-ups.
Its customers include global companies such as BT, Facebook, Google and Hubspot. The company operates in four European markets, as well as the US, Canada and Singapore.
Code Institute is pitching its “bootcamp” courses as being appropriate for employees brushing up on coding skills while in Covid-19 lockdown.
Cyril McGuire, the chief executive of Infinity, and Orla Rimmington, a partner in Kernel, will join the company's board following the investment.
"We are hungry to accelerate our European expansion, and the investment will enable us to fuel our vision," said Jim Cassidy, the chief executive of Code Institute. "
“The spread of Covid-19 around the world has led to an unparalleled education disruption which highlights the role of EdTech and the importance of online educators,” said Ms Rimmington.
There is a global shortage of people with coding skills for the technology industry and for technology roles in other sectors.