Educational technology provider Code Institute in Dublin has raised €1.2 million from Kernel Capital and Infinity Capital, Insider Media has reported.
The funding came through the Bank of Ireland Kernel Capital Growth Funds II.
Code Institute provides online coding courses for students globally, with customers including BT, Facebook, Google and Hubspot. Code Institute today has a presence in four European countries, as well as the US, Canada and Singapore.
Kernel Capital invested in the firm four years ago. Orla Rimmington, a partner at Kernel and Cyril McGuire, chief executive of Infinity Capital join the board of Code Institute.
Rimmington said: “The spread of Covid-19 around the world has led to an unparalleled education disruption which highlights the role of ed tech and the importance of online educators such as Code Institute. The investment will ensure that Code Institute is well positioned to expand their global footprint.”
Code Institute chief executive Jim Cassidy added: “We are proud of what we have accomplished in just four years, and we are delighted to have received this follow-on investment from Kernel Capital and Infinity Capital and have both Cyril McGuire and Orla Rimmington join as board members. We are hungry to accelerate our European expansion and the investment will enable us to fuel our vision of setting the global benchmark for the vocational training of software developers.”
Kernel Capital was advised by LK Shields for the transaction.
Date published: 31 March 2020