Cambridge Social Ventures ‘stable’ racks up more than £20m
Cambridge Social Ventures at the university’s Judge Business School is toasting further global success from another of its alumni following a Series A fund raise by EdTech startup HyperionDev.
The venture is based in South Africa but was founded by Riaz Moola who is a Cambridge Judge graduate and Gates Scholar. The business has previously won funding from Facebook’s internet.org foundation, Google and the Python Software Foundation.
It has raised a high six-figures sum in US dollars although the exact amount is being kept under wraps. The money will fuel a rebrand and launch an innovative new product, CoGrammar: code review as a service, delivered by a team in Africa trained through HyperionDev’s online coding bootcamps.
They are making genuine social impact by creating an entirely new career path in technology for young people in Africa, full time and future-proofed, and supported by a compelling commercial proposition.
With Healthera’s recent £3m round, this brings the total raised by Cambridge Social Ventures to over £20m since 2014. We understood an impending deal will substantially boost that figure.
HyperionDev is celebrated for building the largest online coding bootcamp in Africa and scaling it internationally to 40 countries. The new product enables students to study online to change careers to software development in under six months.
The company was incubated by the London Co Investment Fund, University of Cambridge’s Social Ventures, and Edinburgh University’s Launch.ed programmes. It received investment offers from four UK and US-based venture capital funds in its last round of funding. The final investors in this round have chosen to remain private.
This new influx of capital has enabled CoGrammar to scale to a team of 40 – growing its team to include top startup talent from the likes of GetSmarter, which was acquired by 2U for $103 million – and launch a new product of Code Review as a service.
The round of funding comes after HyperionDev won first prize in Facebook’s Innovation Challenge, securing $230,000 in funding from Facebook in addition to several grants from Google and the Python Software Foundation.
Riaz Moola, CEO & founder said: “We are grateful for the support of our new backers who have allowed us to set our sights on tackling a more ambitious vision – setting the global standard for code review.
“CoGrammar enables education brands around the world to integrate on-demand mentorship and code review into their coding education programmes at an affordable cost, making effective software development education scalable.
“We make this possible through a new career path – copywriter for code – which we’ve created in the African market. From September 2018, we’ll be accepting applications for our first cohort of CoGrammars.”
CoGrammar sources, trains, and seamlessly integrates expert code reviewers into coding bootcamp education programmes globally. Human review of code is essential to ensure aspiring developers understand how to write write code that isn’t just correct, but is fluent and at an industry quality level.
The education market has seen an annual growth rate of 90 per cent since 2013, and CoGrammar is poised to become the global engine for coding education and code review, supporting millions of aspiring developers in crossing the tech skills gap.