QuickStart announced on Wednesday it raised $10 million in a new funding round.
The Austin-based edtech startup plans to spend the cash on expanding its web development, data science, data analysis, cybersecurity and cloud computing bootcamps and certification programs.
Founded in 1998, QuickStart can be used by individuals and IT teams to learn the ins and outs of Cisco, Microsoft Azure, NetApp and other systems. The company offers more than 1,300 IT training and certification courses on 176 platform technologies.
In addition to offering live, virtual training, its platform uses AI to monitor students’ progress and recommend different programs based on a learner’s preferences and skills.
For individuals looking to invest in their IT capabilities, QuickStart offers an income share agreement — powered by Leif — as a financing tool, which essentially lets borrowers pay for their education after landing their first job. QuickStart said it has taught more than 10 million people across four countries.
In August, the company partnered with six universities — Becker College, Colorado State University, Hofstra University, James Madison University, Northeastern Illinois University and Florida Atlantic University— to launch continuing education bootcamps, each focused on cybersecurity and web development and lasting up to 24 weeks.
At the time, CEO Ed Sattar credited the COVID-19 pandemic with driving the partnership, saying that high tuition fees associated with traditional higher education were causing students to seek alternative career paths. Today, he credits QuickStart’s income share agreement for driving investor interest.
“Demonstrating a clear return on investment differentiates QuickStart from competitors in the space,” Sattar said in a statement. “Income share agreements provide a definitive indicator of a high-ROI educational program, while increasing access to that program simultaneously.”
QuickStart has so far raised at least $20.6 million in funding. The startup is hiring for 18 positions located across the world.
