A Bangalore-based startup named InterviewBit, who offers an online-based advanced computer science program for college graduates as well as young professional engineers, has brought $20 million up in one of the biggest Series A financing adjusts in the training segment. Sequoia India, Tiger Global and Global Founders Capital participated in the Series A round of the nine-month-old startup. InterviewBit said it is additionally rebranding its web-based coding program, prior called InterviewBit Academy, to Scaler Academy.
InterviewBit works on a revenue sharing model where students are able to pay most of the coaching fee after they get a job. The concept, likewise, known as the human capital contract, has existed for several decades, but is now starting to gain momentum.
More than 2,000 students have signed up for its six-month program. Over 200,000 applications have been received. And “several hundred” of those who signed up for the program got jobs at technology companies such as Google, Amazon, and Microsoft as the startup said.
Students who sign up with Scaler Academy are trained by technical leaders and subject experts working with organizations such as Google, Facebook, Twitter and Netflix.
InterviewBit is a part of Surge Accelerator program of Sequoia India and willing to use the new fund to expand its participation and enter new markets. There is also a proposal to put resources into its educational plan and in a real-time training product.
Engineers of the National Employment Report for 2019, recently emphasizes that Indian engineers still have only 20% of the employment opportunities. “Considering this, Scaler Academy’s carefully structured 6-month online program is effectively developing professional coding skills by creating a modern curriculum using the latest technology,” the startup said.