Investors bet $30M more on Lambda School's income-share tuition model - Ben Unglesbee, Education Dive

Online coding and programming academy Lambda School, which uses an income share financing model for students, has raised $30 million in Series B venture capital financing, according to Crunchbase. Leading the funding round is Geoff Lewis, founder and managing partner of investment firm Bedrock Capital. Lambda CEO and co-founder Austen Allred said the funding would be used to scale the school, build its hiring network and expand internationally. This week Lambda courses opened to participants in the European Union, Allred said, and they will be available in Canada in the coming months. It's also planning a cybersecurity program. Rather than charge students upfront, Lambda uses income share agreements for tuition. Students who earn at least $50,000 a year pay 17% of their income to Lambda for two years, for a maximum of $30,000 in retroactive tuition. It currently enrolls 1,000 students, Allred said. To date, Lambda has raised $48.1 million in five funding rounds, according to Crunchbase. Other investors include Y Combinator, actor and investor Ashton Kutcher, and GV (formerly Google Ventures). https://www.educationdive.com/news/investors-bet-30m-more-on-lambda-schools-income-share-tuition-model/545680/