ST. PETERSBURG, Fla. & NEW YORK--(BUSINESS WIRE)--CodeBoxx, the technology community that offers an accelerated coding and technology program for individuals of all backgrounds, today announced that it has secured $2 million in seed funding, led by the investment arm of MadaLuxe Group, a leading worldwide distributor of luxury fashion. The CodeBoxx developer ecosystem is breaking barriers and helping retail and other companies address the shortage of skilled tech talent by making developer training accessible to diverse populations and guaranteeing job placement upon program completion.
“Businesses are struggling to fill open technology positions and veterans, women and people of color are greatly underrepresented in tech,” said Sandy Sholl, co-founder and Chairman of MadaLuxe Group. “When we learned about CodeBoxx’s business model and mission of making the tech industry more diverse and inclusive by providing training to anyone—regardless of background or financial status—we knew immediately that we wanted to invest to help them further that mission. The company is founded on the belief that a career in technology should be based on potential, not privilege.” Following MadaLuxe Group’s investment, Sholl will also join the CodeBoxx board of directors.
CodeBoxx was founded with a mission to create the business-first developers of the 21st century by offering a 16-week, full-time training program that focuses on development of the technical and soft skills businesses require today. There are no prerequisites to register and enroll in the CodeBoxx technology training program and participants pay no tuition until they have successfully completed the program and are hired by one of CodeBoxx’s client companies or are placed in its in-house solutions division.
“This investment feels like a knighting to us and will allow us to reach our full potential as a company while offering life-altering career opportunities to people who may not otherwise have had access to the quality and kind of training we provide,” said Nicolas Genest, Co-Founder and CEO of CodeBoxx. “Our model allows companies to get more value out of their technology investment and our relationship with MadaLuxe proved the outstanding value our graduates bring to businesses. We’re thrilled that MadaLuxe has recognized the value of both our graduates and our mission.”
“We’re confident that this investment will allow CodeBoxx to provide new career development opportunities to thousands of people, while also ensuring there’s a strong pipeline of well-trained, diverse tech talent that’s ready to help businesses grow,” added Adam Freede, CEO of MadaLuxe Group. “We’ve already benefited from working with some of CodeBoxx’s skilled graduates to solve our own tech needs and we’re proud to support the company as it expands its operations and helps train a whole new generation of technology professionals.”
The latest funding round brings CodeBoxx’s total valuation to $22 million. The company will launch its first in-person US cohorts at its Tampa Bay–St. Petersburg location and at its Philadelphia campus this year. The company plans to expand into the NY/NJ/CT tri-state area in 2022.
About CodeBoxx
CodeBoxx, launched in 2018 and already one of the fastest-growing technology bootcamps in North America, was created to address the shortage of business-first software developers. The company offers a 16-week proprietary training program designed by a CTO to meet the very real challenges of CTOs and help companies optimize return on their technology investment. The unique concept makes careers in technology accessible and possible for all. The CodeBoxx bootcamp training program, offered both in person and online, guarantees employment to graduates through in-house placement services with world-class companies as well as within CodeBoxx’s own Digital Workshop, a digital solutions division that works with eBay, Vivino, MadaLuxe, the SPARC Group, Amsale, Lucky Brand and many more. CodeBoxx currently has a 94% placement rate.
About MadaLuxe Group
Since 2010, MadaLuxe Group has created a unique foothold in the luxury sector, specializing in the distribution of handbags, eyewear, clothing, footwear, timepieces and more from Europe’s iconic maisons. As the fashion industry’s go-to distributor of luxury, the family-owned company not only distributes to the world’s most prestigious retailers, but also through MadaLuxe Vault, its own direct-to-consumer retail destination. For more information, please visit MadaLuxeGroup.com.