Ukrainian Startup “Mate Academy” Raised $1.9 Million in Investments

by Meifan Honcharuk
Monday, November 15, 2021
Ukrainian Startup “Mate Academy” Raised $1.9 Million in Investments

The funds will be invested in the expansion of the online platform to the American and Polish markets

Investors include the co-founders of Wise (Transferwise), TeleportPipedrive, Bolt. The round was supported by Horizon Capital and existing investors TA Ventures and Flyer One Ventures, who invested in the startup in 2019.

The representatives of Mate Academy noted that the raised funds will be invested in expanding to the American and Polish markets.

What is Mate Academy?

Mate Academy is an online academy for IT professions that provides a 4-month coding course for a percentage of post-employment salary. Students learn Java, Front-end, Full Stack Web, UI / UX Design in online classes. In return for free tuition, students pay 17% of their salary after employment for two years.

After a seed round in 2019, Mate Academy's revenue grew 20-fold. In 2021, the online academy has 1,300 employed students and 60 employees.

Academy's work model

At Mate Academy, a platform for learning programming, the goal is to teach students and get them to take their first job in IT. That is why the company has chosen a business model atypical for the market: students pay for the program after training and only on the condition that they have found a job.

The team teaches students exclusively on a full-time basis. The IT market does not need juniors but middle and senior developers. A developed company has to learn how to produce specialists as close as possible to the middle level.

Not everyone has the opportunity to devote so much time to education without working. Therefore, Mate Academy plans to issue scholarships to break down the barriers for talented people further. In the experience mode, they have already allocated several scholarships.

The average salary offer for a full-time Mate Academy graduate is $900 per month.

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