Online coding school Microverse has recently announced a $12.5 million Series A funding round, which was led by Northzone, alongside previous investors like General Catalyst and All Iron Ventures, as well as some angel investors.
Founded in 2017, the San Francisco-based company is an online school for remote software developers where students, especially those from developing countries, are not required to pay until they land a job.
Microverse’s ISA terms require that graduates pay 15% of their salary once they begin making more than just $1,000 per month. There is no cap on time, so students continue payments until they have repaid the cap of $15,000.
As larger tech companies have embraced remote work during COVID-19, Microverse told to TechCrunch that it has now brought English-speaking students from over 188 countries through its program.
According to its website, the company said more than 90% of alumni land a job within 6 months of job searching, and 92% of job offers Microverse students receive are for remote roles.