Codeverse Raises $10M to Open Two New Coding Studios in Chicagoland
The tech company announced Thursday that it has raised more than $10 million in venture capital funding in a round that closed at the end of July. Katy Lynch, the co-founder and chief marketing officer at Codeverse, declined to disclose who the investors were, but said they are from a range of areas, including the Midwest, some coastal cities and even overseas.
With the new funds, Codeverse is opening two new studios by the end of this year, one in Wilmette and one in Naperville. The expansion is part of a larger initiative to operate 40 studios throughout the country.
“It’s super exciting,” said Lynch, who is also the founder of Social Katy, which was acquired by Manifest Digital. “Our big mission ultimately is to teach 1 billion kids to code, starting in Chicago.”
Codeverse already has one learning studio in Lincoln Park, at 819 W. Eastman St., which opened in July 2017. Using Codeverse’s proprietary coding language Kidscript, kids can begin writing code in as little as 15 minutes.
“They’re able to build their own apps and games based on what they are learning in our curriculum,” Lynch said.
The classes, which last for 75 minutes and can accommodate up to 32 students, are designed for children ages six to 12. A four-month commitment for weekly classes costs $175 per month, and paying month-to-month costs $225.
Lynch said though Codeverse’s programs are targeted toward all children, the company understands that not all can afford it. To help make Codeverse accessible to as many students as possible, it has partnered with charities and nonprofits that financially assist students who need it most.
Lynch said Codeverse’s instructors range from certified teachers to working professionals with design and coding backgrounds. The startup also hires those with backgrounds in the arts, Lynch said.
Right now, Codeverse has about 40 full-time employees, 21 of which are instructors at the company’s studios. But over the next three months, Lynch said Codeverse plans to hire 60 more people.
Just recently, Codeverse has made significant leadership hires, including Chris Bordeaux, the former COO at Techweek, who is serving as its vice president of partnerships, and Priya Mathew, a former product developer at Google, who is now Codeverse’s senior vice president of product.
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“We’re dedicated to bringing our students the absolute best experience to enable them to learn code through our platform,” Lynch said. “The new talent we’ve brought on including leaders from the STEAM and education space is a testament to our commitment to our students, providing the best on-site support to enable their education.”