© Codecool
The programming school focused on the CEE region, which was founded by Hungarian entrepreneurs in 2014, has received € 7 million in investment capital and now plans to open the Codecool Campus in Vienna. The underlying idea is that the international shortage of IT specialists can be counteracted by alternative IT training programmes alongside the traditional courses of study offered at universities. Investors have already recognised the potential. According to an analysis carried out by the platform Dealroom, the investment volume in the so-called EdTech sector almost doubled in 2020 and currently equals € 10 billion.
With the € 12.5 million in capital raised to date, Codecool has closed the gap to the top European players in the IT education market (Ironhack: € 22 million, Le Wagon: € 16 million). At present, the programming school operates five campuses in Hungary, Romania and Poland, and more than 1,000 graduates work in the ICT sector throughout Europe. Plans call for launching further European educational facilities starting in the second half of 2021 to follow the opening of the Vienna campus. The goal is to have more than ten Codecool IT schools in operation by 2025.
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