Digital Home, a Buenos Aires-based edtech concentrated on developing tech talent through immersive remote courses, announced today it has actually raised more than $50 million in new financing.
Especially, 2 of the primary financiers are not venture capital firms but instead are 2 big tech companies: Latin American e-commerce giant Mercado Libre and San Francisco-based software designer Globant. Riverwood Capital, a Menlo Park-based private equity firm, and existing backer early-stage Argentina-based venture company Kaszek likewise took part in the funding.
The raise brings Digital House’s overall funding raised to more than $80 million since its 2016 creation. The Increase Fund led a $20 million Series B for Digital House in December 2017, marking the San Francisco-based firm’s investment in Latin America.
Nelson Duboscq, CEO and co-founder of Digital House, said that accelerating demand for tech skill in Latin America has sustained need for the start-up’s online courses.
according to Duboscq. Digital House CEO and co-founder Nelson Duboscq. Image Credits: Digital Home In 2020, 28,000 trainees across Latin America used its platform. The company predicts that more than 43,000 will enroll via its platform in 2021. Half of its organization comes out
of Brazil, 30%from Argentina and the remaining 20%in the rest of Latin America. Specifically, Digital House provides courses aimed at teaching”the most sought-after digital abilities” to individuals who either wish to operate in the digital market or for companies that require to train their employees on digital abilities. Highlighting practice, Digital Home provides courses — — that range from six months to two years — — teaching skills such as web and mobile advancement, data analytics, user experience design, digital marketing and item advancement.
The courses are totally available online and combine live online classes led by in-house teachers, with material delivered through Digital Home’s platform through exercises, videos and quizzes “that can be consumed at any time.”
Digital Home also connects its graduates to business tasks, claiming an employability rate of over 95%.
Looking ahead, Digital Home says it will use its new capital toward continuing to evolve its digital training platforms, in addition to introducing a two-year tech training program — — dubbed the “Qualified Tech Developer” effort — — jointly developed with Mercado Libre and Globant. The program aims to train countless trainees through full-time two-year courses and link them with tech business worldwide.
Particularly, the business states it will also continue to expand its portfolio of careers beyond software application advancement and consist of specialization in e-commerce, digital marketing, information science and cybersecurity. Digital Home likewise plans to expand its partnerships with technology companies and companies in Brazil and the rest of Latin America. It likewise is preparing some “tactical M&A,” according to Duboscq.
Francisco Alvarez-Demalde, co-founder & & co-managing partner of Riverwood Capital, kept in mind that his firm has observed a speeding up digitization of the economy throughout all sectors in Latin America, which naturally creates need for tech-savvy talent. (Riverwood has an office in São Paulo).
In addition to web developers, there’s been increased need for data scientists, digital marketing and cybersecurity professionals.
“In Brazil alone, over 70,000 brand-new IT professionals are needed each year and only about 45,000 are trained each year,” Alvarez-Demalde stated. “As an outcome of such a skill crunch, salaries for IT experts in the area increased 20% to 30% in 2015. In this context, Digital Home has a big chance ahead of them and is located strategically as the gatekeeper of new digital talent in Latin America, preparing workers for the tasks of the future.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.