Coding Giants acquires €3.5 million to strengthen its position in foreign markets
Polish EdTech company Coding Giants (Giganci Programowania) over the past several years has firmly established its position in Poland, becoming the most recognizable coding school for children and teenagers in the domestic market. Now is the time to focus on rapid development in global markets. External funding can help facilitate this effort.
Coding Giants is an international programming school founded in Poland offering courses for children and teenagers 7 to 19 years old. Our lesson format combines live group lessons with interactive assignments where students code using popular, well-known languages and environments. We teach children and teenagers 7 to 19 years old coding via an online and stationary format. Our program combines interactive lessons and live group lessons, during which trainers instruct students on coding in well-known languages. The company was founded on four college friend's idea, 12,000 zloty, and a couple dozen students in Warsaw. Now, Coding Giants has over 120 stationary locations in addition to online courses throughout Poland and 14 other countries in four continents. Over 100,000 students have taken attended Coding Giants' courses.
Dynamic Expansion Abroad
Coding Giants is engaged in a simultaneous expansion abroad in two business models: expansion of franchises in 12 countries including Croatia, Bulgaria, Mexico, Australia, UAE, etc. and expansion of our own operations in Spain and Chile with the United Kingdom and Germany coming next. Currently, 90% of the company's customers come from Europe, 5% from the LATAM region, and 5% from other regions 5%. Poland occupies one of the most strategic locations in the business world. The recent focus on foreign markets has resulted in a more than 3-fold year over year increase in the number of students in Spanish-speaking countries. Maintaining this pace of development is the company's key objective for the coming years. Market conditions are conducive to such dynamic growth - by 2027, the size of the educational programming industry for children and teenagers is to reach USD 8 billion, according to Nova One Advisor.
A Wide Range of Courses
Investment Fund Objectives
Although the company has scaled significantly despite being a bootstrap (17 million zloty revenue in 2022), the founders decided to seek a round of financing, which would allow for dynamic scaling in foreign markets. The goal is to expand the Spanish and Latin American markets and entry into the UK and German markets. Funding will also be allocated to the development of the proprietary LMS system with innovative gamification and AI modules supporting education.
- Along with the general development of the company, we want to enter foreign markets. In Spanish-speaking countries, we have proven that we are able to translate our business model, expanding at a rapid pace. Now we wish to accelerate expansion even further, which would be difficult to achieve without the support of external funding. We are interested not only in financial resources as we have gained partners who have experience in the development of educational startups in global markets, state the founders of the Programming Giants. - say the founders of Coding Giants
The company recently signed an agreement with two venture capital funds for a financing round in the amount of EUR 3.5 million. The funds that invested in Coding Giants already have existing education startups in their portfolios. The lead investor is the Hungarian Portfolion fund which has previously invested in Novakid, CodeCool, and SDA among others. The fund has assets under management worth 400 million EUR and is supported by OTP Group, the largest banking group in the CEE region.
Coding has the potential to be one of the most in-demand skills in the next decade despite digital education lagging far behind where it should be. That's why learning how to code is a unique opportunity, even in the traditionally strong EdTech industry. Coding Giants takes an exceptional approach in this field and has all the necessary attributes to become a decisive player on a global scale.” - says Mihaly Zsolt, Portfolio
The second investor is the Polish venture capital firm Nunatak Capital, specializing in the areas of Data Science and AI. Previously, the firm provided funding to startups such as LiveKid and Mindgram.
"Data Science solutions, especially those based on AI algorithms, are increasingly being used in the EdTech sector. The analysis of data from Coding Giants' learning management system on student behavior will enable the identification of learning styles, level of motivation to learn, commitment to current tasks, and an accurate diagnosis of knowledge gaps. With the increased acceptance of remote forms of communication due to COVID-19 and ubiquitous internet accessibility, we are witnessing a revolution in education, which is becoming more and more personalized and profiled to student's individual preferences." says Adam Purwin, Nunatak Capital
The main goal of Coding Giants is to become the world's largest coding school for children and teenagers, a Polish EdTech company associated with digital education on every continent. Coding Giants wants to share our knowledge and experience with children especially at a young age to show them the great potential of learning coding and how important it is to function efficiently in the digital world.