US-based IT education provider General Assembly secured $70m yesterday in a series D round backed by media group Advance Publications.
Advance was joined by investors including Wellington Capital Management, Institutional Venture Partners (IVP), Learn Capital, Maveron, Rethink Education and Western Technology Investment (WTI).
Founded in New York in 2011, General Assembly offers three-month courses in programming across 14 cities including London, Hong Kong, Singapore and Sydney, charging between $10,000 and $12,000 for a full-time course. Its alumni is set to grow to 25,000 by the end of this year.
General Assembly has now raised about $120m since it was founded, including $35m in an October 2014 series C round led IVP that also included GSV Capital, Rethink Education, Maveron and WTI.
General Assembly co-founder and CEO Jake Schwartz told the Wall Street Journal yesterday the funding is “the last round we ever need to take before we are a fully self-sustaining company.”