Michael Farrell and I were just down at General Assembly‘s basement office, located within its own space in the Fort Point WeWork, last week checking out some of the classes. Now I wished I’d taken the free slice of pizza they’d offered during the tour: The New York Times is reporting the company has raised $35 million to help expand its digital education curriculum, a mix of night sessions, intensive bootcamps, online learning, and long-form classes.
From Michael J. De La Merced:
On Friday, the three-year-old General Assembly said that it had raised more than $35 million in a new round led by Institutional Venture Partners, which will gain a seat on its board. Other investors included GSV Capital and Western Technology Investment, the latter of which provided debt financing that could help lower the company’s cost of capital over time.
Since opening its doors in early 2011, the company has grown to more than 100,000 students, about 6,000 of whom have finished from coursework taught at eight locations. The new round of financing, General Assembly’s third, is meant to support the company as it continues to expand into an academy for coders, designers and marketers, according to Jake Schwartz, a co-founder and chief executive of the start-up.
Currently in eight cities (Kirsner reported their 2012 move to Boston), General Assembly staff told us about a strategy of offering a mix of in-person and online learning, with a heavy emphasis on the former. Classes start at around $30 for an evening to over several thousand thousand for more extensive “immersive” classes on topics ranging from digital marketing to iOS development.
Editor’s Note: This piece was updated to correctly identify that General Assembly was located within WeWork.