Amid the COVID-19 crisis, digital transformation has rapidly accelerated and increased the demand for resilient jobs in the current remote working economy. It is estimated by the International Labour Organisation that global unemployment will increase by 25 million due to the pandemic, resulting in a necessity for solutions that bring in sustainable employment by supporting remote learning options. Among the many companies that support remote learning is Ironhack, a Madrid-based global tech school.
Intends to expand its remote learning
Ironhack has secured $20M (nearly €16.5M) Series B funding round led by Lumos Capital along with participation from Endeavor’s Catalyst Fund and existing investors – Brighteye and Creas. The investment will be used to expand the company’s remote learning and corporate training capabilities including talent acquisition and re-skilling. Also, it will help students all over the world to transform their careers with the help of technology.
“We believe that practical skills training, a supportive global community and career development programs can give everyone, regardless of their education or employment history, the ability to write their stories through technology,” says Ariel Quiñones, co-founder of Ironhack.
Ropes in new board members
Besides the investment, James Tieng, managing partner and co-founder of Lumos Capital Group has joined the Board and Lumos Principal Yichen Feng has been appointed as a Board Observer. Tieng says, “Ironhack’s outcomes-focused educational model, its deepening capabilities in remote and enterprise learning, and the market’s continuing shift to alternative forms of career preparation and professional development have positioned the company for both tremendous growth and social impact.”