# Bloom Institute of Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bloom-institute-of-technology

- Industry: Education/Training
- Headquarters: San Francisco, US
- Website: www.bloomtech.com/
- Total disclosed funding: $123M
- Latest round: Series C (Aug 5, 2020)
- Investors on record: 19

## About

Based in California, US, and founded in 2017 by Austen Allred (CEO) and Ben Nelson, BloomTech Inc., f.k.a. Lambda Inc., d.b.a. Bloom Institute of Technology, operates as an ed-tech company that focuses on providing online education for software engineering courses that are payable upon employment and earning a certain amount of annual salary. In August 2020, BloomTech Inc. raised USD 74 million in a Series C funding led by Gigafund, with participation from GGV Capital, GV, Stripe, Inc., Tandem Capital, and Y Combinator.

The company provides a wide range of online courses, such as an online web developer course for a career in web development, an online data science course for a career in data science, data analytics, business intelligence, and data engineering, and a backend web development course developed with Amazon for entry-level engineering roles.

BloomTech generates revenue primarily through Income Share Agreements (ISAs) and upfront tuition payments. Learners can choose to pay a portion of tuition upfront and repay the rest as a percentage of their income after securing a job. Additional revenue comes from direct tuition, career support services, and strategic hiring partnerships.

## Funding rounds

- Series C, Aug 5, 2020, $74M — Granite Asia, GV, Y Combinator, Stripe, Inc., Tandem Capital, Gigafund
- Series B, Jan 8, 2019, $31M — Granite Asia, GV, Y Combinator, Sound Ventures, Vy Capital, Bedrock, Pioneer Fund
- Series A, Oct 8, 2018, $14M — GV, Stripe, Inc., Bow Capital, Riverside Ventures
- Seed, Jan 30, 2018, $4M — Y Combinator, TSVC, Social Starts, Tandem Capital, Sound Ventures, Zillionize Angel, Soma Capital Management, Liquid 2 Ventures, Gelt Venture Capital, S2 Capital

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series B, Series C
- TSVC (https://capitalatlas.ai/funds/tsvc) — Seed
- Social Starts (https://capitalatlas.ai/funds/social-starts) — Seed
- Tandem Capital (https://capitalatlas.ai/funds/tandem-capital) — Seed, Series C
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Seed, Series B
- Zillionize Angel (https://capitalatlas.ai/funds/zillionize-angel) — Seed
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Seed
- Gelt Venture Capital (https://capitalatlas.ai/funds/gelt-venture-capital) — Seed
- S2 Capital (https://capitalatlas.ai/funds/s2-capital) — Seed
- GV (https://capitalatlas.ai/funds/gv) — Series A, Series B, Series C
- Stripe, Inc. — Series A, Series C
- Bow Capital (https://capitalatlas.ai/funds/bow-capital) — Series A
- Riverside Ventures (https://capitalatlas.ai/funds/riverside-ventures) — Series A
- Granite Asia (https://capitalatlas.ai/funds/granite-asia) — Series B, Series C
- Vy Capital (https://capitalatlas.ai/funds/vy-capital) — Series B
- Bedrock (https://capitalatlas.ai/funds/bedrock) — Series B
- Pioneer Fund (https://capitalatlas.ai/funds/pioneer-fund) — Series B
- Gigafund (https://capitalatlas.ai/funds/gigafund) — Series C