After eight months of operation, Driven received this Monday (30) R$ 16 million in a Seed round, led by the venture capital manager Iporanga Ventures. The startup is a vocational school with intensive courses in web programming, and its objective is to train future leaders in the technology sector.
The company, headquartered in Rio de Janeiro, has adopted a business model called ISA (Income Sharing Agreement). Here’s how it works: instead of the student paying for the course normally every month, he only reimburses Driven when he gets a job, but offering 17% of his salary until reaching the full amount of the training. The course lasts nine months, with a monthly fee of R$ 2 thousand. By adopting this business model, Driven says it is betting on the quality of its selection of students to choose those with the greatest potential to be accepted by the market.
The investment of R$ 16 million also included the participation of the ONEVC, FundersClub and 3G Radar funds, in addition to angel investors such as Patrick Sigrist (iFood), Sergio Furio (Creditas) and Brian Requarth (VivaReal). Other Driven partners and investors are Arpex Capital (Stone), Daniel Castanho (Ânima Educação) and Pedro Thompson (Exame).
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The founders of the startup, Paulo Monteiro, Michel Nigri and Pedro Barros, are the same as those of another edtech, Responde Aí. This is a study platform focused on university students of Engineering and other Exact courses. With previous experience, the trio felt a certain lack of finding good IT (information technology) professionals, which motivated the launch of Driven. The idea is to act in the proper formation of this sector.
“The lack of specialized labor is one of the main bottlenecks today for the development of the innovation ecosystem in Brazil. Initiatives such as Driven work to, in addition to filling this bottleneck, foster the education of young people, opening doors for a new generation of professionals, potential leaders of companies of the present and the future”, says Leonardo Teixeira, a partner at Iporanga Ventures.
According to the Brazilian Association of Information and Communication Technology Companies (Brasscom), higher technology courses in the country train around 46,000 students a year, but to make up for the hiring deficit, 70,000 professionals a year would be needed, or 420 thousand until 2024.
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