Australian Adtech company Academy Shea has raised an additional $ 4.4 million to raise एकूण 9.6 million for a total of $ 14 million.
The company received the latest funding from new investors, including philanthropist Robert McLean, Kuskal Chair Bill Conn and fund manager Milford Asset Management. Previous supporters Alium Capital Management, Giant Leap Fund, Pengia Impact Investments and Perle Ventures have also joined the latest growth.
According to Matt Hill, co-CEO of the company, additional funding will drive growth through acquisitions and strategic partnerships.
With less than 7,000 IT graduates currently emerging each year, the academy was launched in 2016 with a focus on bridging the gap in the country’s digital skills shortage amid a shortage of more than 100,000 ICT-related workers in Australia. His goal is to provide job-ready people faster and cheaper than competitors.
The Sydney-based startup offers courses that are highly practical, employment-based and socially rewarding. The platform is designed in collaboration with leading industry practitioners and employers and enables users to gain skills to move the industry forward and build a career ready for the future.
Commenting on the new funding, Matt Hill said,
“This is an important milestone for the Academy Xi team and points to a new phase of our development as digital development and automation change the structure of the workforce.”
Hill claims that over the past five years the company has built a portfolio of courses, attracted leading talent in the field, and given the business space for significant expansion.
The goal of Academy Xi is to transform the world through education by empowering a community of change makers with the skills to create waves of change and build future careers or businesses. The company claims to have helped thousands of students acquire work-ready skills in high-demand subjects, all from the comfort of their own homes, with an unparalleled level of support.
Responding to the latest investment, Milford Asset Management Investment Director John Johnston said he was pleased to see the academy try to change the traditional education model and recruitment market. He said
“This is a great opportunity to invest in an area valued at over $ 700 million, growing at a rate of 8% per year.
Academy Sheen had earlier set up a $ 2.25 million Series A round in 2017, led by strategic investors Perle Ventures and Allium Capital. Earlier, the company had raised 250,000 in its seed round in 2016 as it sought to expand into Asia.
In 2018, Academy Xi partnered with Incubator Tech Ready Women and launched a 100,000 scholarship fund aimed at encouraging more women to develop and start startups. It previously launched the Indigenous Scholarship Program for UX Design.
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