Startup - June 23, 2021

SA Edtech Startup HyperionDev Secures $3.5m in Series A Funding

June 23, 2021

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Cape Town-based ed-tech company, HyperionDev, has raised ZAR50 million (US$3.5 million) in Series A funding to enable it provide its services on a global scale

HyperionDev entered the scene in 2012 with its online learning platform for computer science education that allows anybody to take online coding classes using a computer or mobile phone.

“This incredible milestone will directly benefit thousands of students across the globe who are looking for an accessible and affordable way to learn job-ready, practical developer skills in months rather than years. In the past 12 weeks, we’ve welcomed over 1,500 new stakeholders,” said Riaz Moola, founder and chief executive officer (CEO) of HyperionDev.

Previously funded by Facebook and Google, the firm has secured a ZAR50 million fundraising round, the majority of which was raised via CrowdCube, a crowd investing platform. HyperionDev used the platform to raise ZAR37.2 million (US$2.6 million), more than double its initial goal.

HyperionDev will utilise the funds to launch the next phase of its planned development into the United States (US) and United Kingdom (UK) markets, following its success in Africa, where revenue has increased by 640 percent since 2018. During the COVID-19 lockout, the number of active users increased by 254%.

“We believe that our coding bootcamps are the best way to close the growing global tech skills gap, and with this wave of support we are one step closer to fulfilling our mission in the US and UK markets,” said Moola.

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