General Assembly has successfully raised $144.4 million over six funding rounds, establishing itself as a significant player in the tech training industry. The company offers expert-led training in various digital skills, including coding, data science, and UX design.
Keep reading to explore the intricacies of General Assembly's fundraising journey and the investors backing this innovative platform.
What Is General Assembly?
General Assembly, founded by Matthew O. Brimer, Jake Schwartz, and Brad Hargreaves, is a leader in tech training and education. Established in 2011, the company offers expert-led courses in coding, data science, and UX design.
With locations in Chicago, New York City, and San Francisco, General Assembly has grown to employ between 501 and 1000 people. The company provides a variety of online and offline classes, workshops, and long-form courses.
Acquired by the Adecco Group, General Assembly continues to expand its global reach, helping individuals and businesses prepare for the future workforce.
How Much Funding Has General Assembly Raised?
- Series A
- Amount Raised: $4,250,000
- Date: September 2011
- Lead Investors: Howard Schultz’s Maveron fund, Yuri Milner’s DST Global, Jeff Bezos’s Bezos Expeditions, Alexis Ohanian, Hosain Rahman, Alex Asseily
- Motivation Behind the Round: To expand globally, build out online courses, and explore new retail spaces in midtown Manhattan and potentially London.
- Series B
- Amount Raised: $9,800,000
- Date: November 2012
- Lead Investors: Tony Hsieh (Vegas TechFund), John Fisher, Mousse Partners, Maveron, Bezos Expeditions, Tom Vander Ark
- Motivation Behind the Round: To open new campuses, including one in Las Vegas, and to enhance course offerings both offline and online.
- Series C
- Amount Raised: $25,000,000
- Date: September 2013
- Motivation Behind the Round: To scale the company further, develop new products, and enter new markets.
- Series C
- Amount Raised: $35,000,000
- Date: March 2014
- Motivation Behind the Round: To scale the company further, develop new products, and enter new markets.
- Series D
- Amount Raised: $70,000,000
- Date: October 2015
- Motivation Behind the Round: To support growth and development, particularly in helping individuals transition into careers in coding through their educational programs.
Total Amount: $144.4M
Current Valuation: $440M (~estimated)
Key Investors
- Howard Schultz’s Maveron Fund
- Details: Co-founded by Howard Schultz, Maveron is a venture capital firm that focuses on consumer-centric businesses. Schultz is also known for his role as the former CEO of Starbucks.
- Investment Focus Areas: Consumer products, retail, education.
- Notable Investments: eBay, Zulily, Allbirds.
- Yuri Milner’s DST Global
- Details: Founded by Yuri Milner, DST Global is an investment firm known for backing some of the world's leading internet companies. Milner is a prominent figure in the tech investment landscape.
- Investment Focus Areas: Internet companies, technology startups, social media.
- Notable Investments: Facebook, Twitter, Alibaba.
- Jeff Bezos’s Bezos Expeditions
- Details: Bezos Expeditions is the personal investment company of Jeff Bezos, the founder of Amazon. The firm invests in a wide range of industries.
- Investment Focus Areas: Technology, media, space exploration.
- Notable Investments: Blue Origin, The Washington Post, Airbnb.
- Tony Hsieh (Vegas TechFund)
- Details: Tony Hsieh was the CEO of Zappos and invested in General Assembly through his Vegas TechFund. He was a key figure in the Las Vegas tech community.
- Investment Focus Areas: Tech startups, community development, e-commerce.
- Notable Investments: Zappos, Downtown Project, OrderWithMe.
- Alexis Ohanian
- Details: Co-founder of Reddit, Alexis Ohanian is an active investor in various startups. He is also a partner at Initialized Capital.
- Investment Focus Areas: Technology startups, internet companies, social media.
- Notable Investments: Reddit, Initialized Capital, Hipmunk.
What's Next for General Assembly?
General Assembly stands at the cusp of significant growth opportunities. With a recent $70 million funding round, the company is poised to expand its educational programs and reach more students globally. The rise of coding bootcamps and tech education programs aligns perfectly with the increasing demand for tech skills in the job market, offering a substantial opportunity for General Assembly to scale its operations.
Future fundraising efforts could be bolstered by these growth prospects, attracting more investors eager to support the expansion of tech education. However, challenges such as maintaining the quality of education while scaling, navigating the competitive landscape, and adapting to the rapidly changing tech industry remain. Addressing these challenges will be crucial for General Assembly as it continues to grow and innovate in the tech education sector.
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