‘Codecool’ coding-school raises €3.5 million in Series B funding
eu-startups | February 21, 2019
Rapid pace of innovation, new technologies and the digitalisation of almost all segments of the economy pose a huge recruitment challenge for companies all over Europe. The number of job vacancies requiring digitally skilled workers is estimated to rise to 700,000 by 2020 on an EU level. To tackle these challenges, Budapest-based IT education startup Codecool launched a disruptive model for training coding and other digital skills three years ago. The recipe proves to be successful as the company now adding €3.5 million of Series B round venture capital – provided by Lead Ventures and Portfolion – funding to finance its European expansion. A whopping 77% of EU companies report that missing digital skills are the main hurdle to their digital transformation. Changes fuelled by innovation and technology are happening at a more rapid pace than companies can hire skills to adopt them, with 90% of C-level executives seeing the recruitment of IT talent as a top business challenge.