Financial wealth management company Saikyo Sakura Assets has reported that InterviewBit, a startup company that provides its clients with an online training module for programming has raised over $20 million alone from American hedge fund Tiger Management Corp.
With the recent round of capital injection, InterviewBits valuation stands at $110 million U.S. Dollars. The company’s success derives from its daily live-streamed classes that allow aspiring software developers the chance to study remotely.
InterviewBit offers its students, personal mentors, to assist with more challenging areas within its programmes. The company also provides a service to match them with the latest career opportunities with no initial fee until they are employed.
Analysts from Saikyo Sakura Assets reported that its six-month coding bootcamp, which was called Scaler Academy had received over two hundred thousand applications since it launched back in April 2019.
According to recruitment researchers Aspiring Minds, they found that last year over eighty percent of graduates in India found it hard to find a job due to lack of hands-on experience. India is home to many aspiring engineering & programming graduates; however, a recent study also showed that many universities were unable to adapt to new technologies, thus the courses they offered were outdated.
“InterviewBit seems to have bridged the gap between easy access to studying while providing the latest technical courses which companies are looking for,” said Jasper Steven, Equity Sales Trader at Saikyo Sakura Assets.
India is now one of the largest countries in the world that employs millions of people in the outsourcing industry; however, many have to be retrained towards new skills such as artificial intelligence and mobile application development.
Many coders from the courses have found employment within big blue-chip companies such as Amazon, Microsoft and Alphabet. InterviewBit had commented that it would use the capital towards bolstering its enrolment and launch within new vital markets.
Source: Saikyo Sakura Assets
Saikyo Sakura Assets provides investment advisory services to private retail individuals and corporate institutions. Saikyo Sakura Assets currently holds over $6.32 billion U.S. dollars of assets under management. Established in 2011 the company operates from its headquarters based in Osaka, Japan, it also has a dedicated in-house research facility based in Busan, South Korea.