Lambda School raises $4 million for pay-as-you-earn coding school



The education company offers computer science and machine learning programs, and recently graduated its first class.

Students can pay $20,000 up front, or begin repaying through an income sharing program once they graduate and get a job earning over $50,000. The income share lasts for two years, with a maximum repayment of $30,000.

The seed funding was led by Y Combinator and Tandem Capital with money going to expand the number of students it can accept.

“Our main mission is just giving access to people for higher education and to get really high paying jobs,” founder Austen Allred said in an interview.

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