Coding Bootcamp Lambda School Lands $74 Million and CA Approval — With a Concession

EdSurge

Tony Wan

August 24, 2020

Tech jobs pay well, and companies that train people for them have been enjoying a payday. Earlier this month, coding bootcamp provider Springboard snagged $31 million from investors.

Last Friday, one of the splashiest names in the bootcamp world, followed suit, backed by an investor known for making moonshot bets. Lambda School raised $74 million in a Series C round led by Gigafund, a venture firm that’s cut big checks for Elon Musk’s SpaceX and The Boring Company.

Lambda has received—and turned down—“multiple” investment offers since its last fundraise in 2019, including one reportedly worth $100 million, according to its founder and CEO, Austen Allred. With Gigafund, he says their interests are more aligned in building a lasting relationship that extends beyond the “typical 5- to 7-year window after which most investors want to get their money back.”

Founded in 2016, Lambda School offers 9-month and 18-month courses in web development and data science. Currently, about 3,000 students are enrolled, according to Allred.

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