ImpactAlpha, October 10 – Eight months after raising a $4 million seed round, Lambda School has secured $14 million for its Series A.
The school made a name for itself with a $20,000 curriculum that teaches coding and software engineering education to students of all backgrounds, and requires them to pay nothing upfront. Instead, graduates can repay their tuition through an income-sharing agreement once they secure a job paying more than $50,000.
Since Lambda launched last April, 75 of its students have been hired earning an average salary of $47,000. It currently has 700 students enrolled. It is building out both its curriculum and hiring network. Y Combinator and Tandem Capital have previously backed the company.
Other skills-based education programs are trying to help students skirt traditional and often hefty student loans through new financing models. Holberton School, also based in San Francisco, raised $8.2 million in April for its “pay it forward” tuition model.