ImpactAlpha, July 3 – Bay Area-based SV Academy is among the surge of tech training programs promising under-skilled workers quick training and help to securing a good job and decent wage. But unlike other models where students pay after they graduate and secure a job, SV Academy’s learners don’t pay anything.
SV Academy’s selects students–“fellows”–for a 12-week program that prepares learners for tech sales jobs and provides ongoing mentorship. When they get hired, employers cover the $10,000 cost of the student (plus some) as a recruitment fee to SV Academy.
“Until you get your job, we take on 100% of the risk that we will not recoup the time, money and effort we put into you,” the company website states.
SV Academy serves about 1,200 students per year, TechCrunch reports.
It has raised $9.5 million from Owl Ventures, Kapor Capital, Strada Education Network to ramp up its program and take on more students. Early backers Bloomberg, Rethink, and Uprising re-upped their investments in the round.