Code Institute Secure €500,000 Investment from Kernel Capital
Today, Code Institute are proud to announce it has secured €500,000 syndicated investment from Kernel Capital and Enterprise Ireland. This investment enables Code Institute to expand their reach in existing European markets as well as creating a suite of future courses and developing our current syllabus.
The technology boom brings incredible opportunity, but with it comes an unprecedented skills gap, which will leave an estimated 825,000 European ICT jobs vacant by 2020. Our industry-validated syllabus enables people to jump-start their coding career while helping fill the talent pipeline with talented developers, easily identifiable by their professional portfolio.
“We are delighted that Kernel Capital has led this investment in Code Institute. There is a real shortage of people with coding experience both in Ireland and internationally and our intensive bootcamp course gives graduates the ‘real-world’ coding and software development skills that are in demand” said Code Institute CEO Jim Cassidy, commenting on the investment.
Our approach greatly reduces the time taken to get students job-ready.” He continued.
Linking Industry with Academia
Ensuring graduates have all the tools they need to start their career underpins our ethos, and this is illustrated by our 94% hire rate (within 3 months of graduation). Code Institute’s syllabus was designed in conjunction with their Industry Advisory Council (IAC) who review and recommend improvements to ensure industry-relevance. Members include tech industry leaders like PayPal, Morgan McKinley, Mastercard, Oglivy, Accenture, and Dell.
Following the investment, Red Hat CEO, Dr Michael Ó’Foghlú joined the Industry Advisory Council, adding a wealth of tech industry experience to an illustrious panel. This panel of experts was instrumental in Code Institute’s accreditation by Edinburgh Napier University – ensuring that on top of receiving a practical portfolio the most industry-relevant skills – graduates also received a Diploma in Software Development.
Speaking on the new investment, Head of Enterprise Ireland Bank of Ireland Relations, Donal Duffy discussed the change in academics in light of new industry standards.
“Code Institute links industry and academia by developing an extremely practical, hands-on diploma in software development delivered by sector experts.” he said.
4-year Computer Science degrees produce brilliant academics and programmers but often students graduate without the practical skills to enter the professional software development world. Moreover, university students found that by third year – some of the languages or technologies they have learned are outdated – as students a year their junior reap the benefits.
Code Institute’s state-of-the-art, intensive syllabus seeks to revolutionise education to give students the opportunity to expedite their career.
“Ultimately, there is no substitute for well-educated and talented people building great locally based companies; the shortage in digital skills is a concern for future growth in Ireland and abroad” said Orla Rimmington, Partner Kernel Capital.
Kernel Capital is pleased to support Irish Edtech companies like the Code Institute as they expand internationally and aim to help fill the gap in ICT professionals predicted across Europe by 2020.”
As business owners seek out new ways to educate their staff, Code Institute want to continue blazing a trail in the EdTech sector while producing top quality developers. Ireland is a tech-industry hub, so it’s imperative Code Institute continue to evolve and innovate our courses to remain industry contemporary.
“Edtech is one of the fastest growing sectors of the digital economy globally. Enterprise Ireland recognises the significance of the Edtech sector in ensuring that Ireland is at the forefront of technology and innovation and to secure sustainable economic growth.
Ireland is already home to some leading education businesses and I have no doubt that this announcement by Code Institute will help accelerate a vibrant education and learning technology sector in Ireland.” said Joe Healy, Manager of Enterprise Ireland’s HPSU Accelerate Department, welcoming the investment.
This investment is ushered in by Code Institute’s new website. Have a look around, download a syllabus, register for an open night or just leave your details and we’ll be in touch soon to tell you how to start your new career in tech.
About Kernel Capital
Kernel Capital is an independent manager of the Bank of Ireland Kernel Capital Venture Funds, comprising of €210m / £165m of funds raised through six separate venture capital funds in the years 2002, 2006, 2007, 2009, 2013 and 2015.
These Funds are supported by Bank of Ireland, Invest NI, Enterprise Ireland, University of Limerick Foundation, NUI Galway Foundation and New York State Common Retirement Fund. Kernel Capital is actively investing through the Bank of Ireland Kernel Capital Growth Funds targeting deal size for Kernel Capital’s element in the region of €1m to €5m in the ROI and £0.5m to £2m in NI, either as sole investor or larger deal size in syndication.
These 10 year Growth Funds were raised in 2013 and 2015 and invest in Northern Ireland and the Republic of Ireland respectively. Invest NI’s investment in the Bank of Ireland Kernel Capital Growth Fund is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020. Kernel Capital is a MiFID regulated firm.