Ireland-based Code Institute has appointed Alantra to run a sale of the business, which is expected to launch in Q4 2022, EducationInvestor Global can reveal.
The company generates EBITDA of approximately £2 million from annual revenue of around £8-10 million, according to a source familiar with the process.
Founded in 2015 and headquartered in Dublin, Code Institute provides students globally with online coding education courses, including full stack software development, web application development, e-commerce, predictive analytics and advanced front-end.
The business raised €1.2m in a funding round co-led by Infinity Capital and Kernel Capital through the Bank of Ireland Kernel Capital Growth Funds II in March 2020. The company used the funds to further boost its expansion and enter new markets.
Code Institute currently operates in four European countries alongside the US, Canada and Singapore, with around 2,000 students having completed its full stack coding bootcamp course. The company’s customer base includes technology firms such as BT, Facebook, Google and Hubspot.
Date Published: 8 June 2022