Masterschool announces $100 million Seed round to build largest global network of career schools
Company hopes to solve challenge of training talented individuals for high paying tech jobs, with choice of top professionals teachers
Masterschool, an Israeli network of tech career-training schools, announced a major $100 million seed funding round led by Group 11, with significant participation from Target Global, Pitango Ventures, Dynamic Loop Capital, Sir Ronald Cohen, and other strategic investors.
With 1 million unfilled IT jobs in the US alone, the tech talent shortage is one of the biggest challenges facing companies today and is expected to reach 85 million unfilled jobs by the end of the decade. 57% of tech executives listed the labor shortage as their top concern.
To address this shortage, Masterschool created a network of career-training schools for technology, with students paying for the courses only after they are hired in the field. Through the Masterschool network, tech creators and industry experts launch schools, teaching and mentoring promising students with a curriculum that prepares them for careers in the most in-demand fields.
Since it was founded in 2019, graduates from dozens of Masterschool schools have been hired by some of the largest tech companies, including Google, Microsoft, and Intel, more than doubling their previous salaries on average.
Applicants must successfully pass an admission process that includes tests and assessments to select the most ambitious and motivated candidates. Researchers from Masterschool collaborate with researchers at leading institutions such as the European University Institute and MIT Sloan School of Management to continually review and improve the admission process to minimize bias and ensure diversity.
Successful applicants can join schools led by recognized experts and industry leaders including Charlotte Chaze (240k TikTok followers for her tech industry content), Niklas Steenfatt (160k subscribers to his YouTube data analyst channel), and Keith Galli (160k subscribers to his YouTube data science channel).
The six-to-tine month course features a team of educational professionals supporting a dynamic syllabus. Students then enter a Career Accelerator where mentors work with them on their soft skills, and job opportunities are presented and assessed.
“Masterschool’s mission is to ensure that anyone in the world can build an inspiring career,” said Michael Shurp, co-founder and co-CEO of Masterschool. “After years of developing and building Masterschool without outside funding, we're thrilled to bring on a wonderful group of investors who share our mission and believe in our team.”
The $100M funding will be used to significantly scale up Masterschool’s network, rapidly increasing the number of schools to provide the major opportunities that come with a tech career to an ever-widening group of people.
“Talent is everywhere but educational opportunity is not,” said investor Sir Ronald Cohen. “Masterschool is turning the conventional education model on its head, by bringing to its students the opportunity to pay after completing their education and gaining employment.”
Masterschool has over 100 team members in Tel Aviv, New York, Berlin, and London. The company was founded in 2019 by Eran Glicksman (CTO), Roi Tzikorel (Chief of Impact), Michael Shurp and Otni Levi (Co-CEOs).