Digital House, a group of schools providing digital skills to youths in Latin America, has received US$20 million in investment from The Rise Fund.
Based in Argentina, Digital House offers technical coding and a variety of other courses to equip students at all levels to build careers in software development, data science, artificial intelligence, analytics, and digital marketing.
It also seeks contracts with corporate firms to train their employees in new technology skills. In a statement, the company claimed that many of its graduates have gone on to ‘work at notable technology companies.’
“Across Latin America, the expansion of the digital economy has resulted in more than 500,000 unfilled technical positions,” said Angel Uribe, Senior Advisor to The Rise Fund, explaining why they chose to invest in Digital House.
“More and more companies are hungry for digitally-trained professionals, but are unable to find qualified, skilled candidates that address this need.”
Analysts say the Rise Fund’s investment will go a long way in boosting digital expertise across the region, particularly in Argentina, Brazil, and Mexico, as the funding is likely to tempt similar firms to expand operations and seek foreign investment.
Founded by Eduardo Bruchou and Nelson Duboscq – who previously founded HSM (now WOBI), which was sold to Laureate in 2012 – Digital House claims to have trained more than 2,500 students in the past two years.
It also says it will build training campuses in Brazil and Mexico in 2018.
Other investors in Digital House include some of Latin America’s most prominent entrepreneurs and venture capitalists: Kaszek Ventures; Marcos Galperin, Founder and CEO of MercadoLibre; and Martin Migoya, Co-Founder and CEO of Globant. Endeavor Catalyst and Omidyar Network are also investing alongside The Rise Fund and the existing investors in this funding round.