LONDON--(BUSINESS WIRE)--Online education company FourthRev is announcing today the successful close of its Series A fundraise of $8 million. The lead investor is Educapital, Europe’s first education technology impact fund, with follow-on funding from Reach Capital, Emerge Education and Danner Capital as well as a number of edtech entrepreneurs and executives.*
Building on previous university partnerships and success in delivering digital skills courses, FourthRev has created a new category of education called Career Accelerators to tackle digital skills gaps globally. These programmes lead the way in employer-university collaboration by combining the robustness and recognition of a world-leading university education with the best job-focused technical education. FourthRev brings together globally recognised universities, such as the London School of Economics and Political Science (LSE) and now King’s College London, leading technology companies such as Tableau and Github and industry employers such as Thoughtworks and Robert Walters to design unique, highly cost effective, globally relevant programmes.
The first FourthRev Career Accelerator in Data Analytics which is currently underway is a six-month programme that will train students from a range of different backgrounds and disciplines to develop holistic data analysis skills. It has been designed and developed by LSE’s Departments of Statistics and Department of Methodology, in collaboration with leading industry partners to ensure outcomes align with current industry demand. The programme will introduce core concepts of data-handling and analysis and will incorporate real-world projects to allow students to apply and challenge their knowledge in authentic business scenarios.
The investment will be used to develop and promote more Career Accelerators focused on key areas experiencing the most acute digital skills shortages such as cybersecurity, AI, analytics, UI and project management skills. As a remote first, global company, FourthRev will be doubling headcount worldwide, expanding operations in the UK, Australia, South Africa and North America.
Jack Hylands, Co-Founder of FourthRev said: “The digitisation of the global economy driven by The Fourth Industrial Revolution has been dramatically accelerated by the COVID-19 pandemic, with digital transformation plans having been significantly increased over the last two years. This rapid digitisation of the economy means that 85 million jobs are forecast to be lost through the emergence of new AI and automation technologies, but 97 million jobs are set to be created.
“If the workforce is to succeed in this new economy, it will require a specific and different set of technological, emotional, and higher cognitive skills. Our mission is to support the workforce and learners through these changes, which is why we built and launched Career Accelerators last year. By combining the very best of career focused, high ROI education with the value of the world’s best universities, technology partners and a direct pathway to employment, this unique proposition allows learners from across the globe to unlock high-growth digital careers.”
A key element of Career Accelerator programmes is the balance of developing both technical and human skills. As artificial intelligence redefines the division of labour between machines and humans, employees will have to double down on human skills such as problem-solving and emotional intelligence. Career Accelerators ensure the personalised development of these human skills through access to career coaching that helps build personal and professional growth, as well as facilitating data-driven matching between students and employer partners.
Litzie Maarek, Co-Founder and Managing Partner from Educapital said: “It is clear that there is a desperate need for more effective and relevant education in the digital skill education space. We believe the way FourthRev builds the foundation of its courses on industry needs, works with academia to deliver higher order thinking and intellectual resilience, and delivers confidence to graduates through industry partnerships is unique. Our mission at Educapital is to identify and support edtech companies that are going to have a tangible impact for current and future generations. FourthRev is doing just that as they are building a new educational pathway to addressing one of the biggest educational challenges of our time.”
Shauntel Garvey, Co-founder and General Partner at Reach Capital commented: “The strong demand for FourthRev’s first Career Accelerator and a growing pipeline of academic and industry partners shows that now, more than ever, learners are seeking experiences that combine practical technical skills with the rigour of renowned universities. Furthermore, by incorporating the development of human skills into the curriculum, FourthRev will better equip its graduates to thrive in the digital economy. Human connections are crucial to all successful learning experiences — and core to our impact thesis at Reach."
ENDS
*Follow on investors include Danner Capital and Craig Pines, who is joining the FourthRev board. New investors include Dan Devine, Greg Finkelstein, Jeff Keith and Scott Mckinley.
About FourthRev
FourthRev exists to create economic and social value through access to high-growth digital careers. As the original creators of the Career Accelerator model, the company is driven to provide a launchpad for careers in the digital economy. Developed and delivered by world-leading universities, tech companies and employers, Career Accelerators deliver technical, business and human skills underpinned by the quality and rigor of university education. These online programmes aim to accelerate career progression, open direct paths to in-demand jobs and offer opportunities for further learning.
About Educapital
Educapital is Europe’s first impact investment fund dedicated to the Future of Education and Work (EdTech). Created in 2017 by Marie-Christine Levet and Litzie Maarek, Educapital invests from late seed to series B in European startups disrupting and innovating within their chosen spaces. They focus on the full range of the education sector, from early childhood, K12, and higher education through to lifelong learning, corporate development, and the future of work. Educapital's ambition is to help European Edtech champions emerge by providing initial financial support, ongoing expertise, and market-specific know-how. Educapital has invested in 20 leading EdTech companies, including Labster, 360 Learning, Preply, Lunii, and LiveMentor, making it one of the most active EdTech funds across the world.
