Codecool Raises €3.5M in Series B Funding

codecoolCodecool, a Budapest, Hungary-based coding school, raised €3.5m in Series B funding.

The round was led by Lead Ventures with participation from existing investors Portfolion.

The company intends to use the funds to continue its European expansion.

Led by Balázs Vinnai, Codecool aims to tackle the challenge of the rising number of job vacancies requiring digitally skilled workers, which is estimated to grow to 700 thousand by 2020 on an EU level. To this end, the company provides training to acquire coding (and other digital) skills, as well as employee placement. By now, Codecool has trained and helped 400 people having no previous qualification on the digital field, to fulfil a programming job at altogether nearly 100 corporate partners.
At the moment, 500 people are studying at 4 campuses operated by the company in Hungary and Poland with this number rising to 800 students as the network of education hubs enters the Romanian market by the end of this year.

The round will remain open for the coming six months to raise a sum in the range of up to €1.5m.



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