US-based computer science academy Lambda School has secured $14m in a series A round led by GV, a corporate venturing subsidiary of internet technology conglomerate Alphabet, that included payment technology provider Stripe.
Founded in 2017, Lambda School delivers a 30-week computer science training scheme over the internet that does not charge students until they have lined up a software engineering job paying a salary of at least $50,000 per year.
Lambda currently has more than 700 students and claims more than 75 of its graduates have been hired since April 2017. The series A capital will be used to build out Lambda’s hiring network and course offering as it looks to increase enrolments in the academy.
The company closed a $4m seed round co-led by accelerator Y Combinator and seed fund Tandem Capital in January 2018, and is likely to have received $120,000 for participating in Y Combinator the year before.
Patrick Collison, Stripe’s co-founder and CEO, said: “We love programs that spread opportunity to people who have been overlooked and underserved. Enabling more people to take advantage of the possibilities of software and the internet is a pursuit that is firmly aligned with Stripe’s mission.”