Northcoders has successfully secured a further £10m of funding from the Department for Education Skills Bootcamp Dynamic Purchasing System 2 bid.
The new funding will allow Northcoders to train more individuals on its market-leading bootcamp, deliverable over 18 months, and provides the company with strong revenue visibility for FY 2024 and H1 2025. It also underpins an 18.6% increase in revenue per student, compared to the last nine-month Wave 4 contract, in line with the group’s focus on driving increased near-term profitability.
This funding has been received for the group’s core B2C Software Engineering, Data Engineering and Cloud Engineering bootcamp courses. This is the fourth year in succession in which Northcoders has succeeded in winning increased government funding for its bootcamps, selected for their ongoing quality and job outcomes.
Chris Hill, CEO of Northcoders, said: “This a fantastic demonstration of Northcoders’ reputation as a market leading, quality technology training company. With the global skills challenge increasing through the continuous introduction of emerging technologies, training in these fields has become a priority across public and private sectors. Knowing we are the provider of choice is a testament to the team and the business we have built. This contract provides us with strong visibility and dependable cash flow for the year ahead, and as such, we move into 2024 with strong confidence.”
