EdTech startup Promineo Tech raises $900,000 in seed funding

Promineo Tech raises seed funding

Promineo Tech, a startup that partners with community colleges to provide affordable, low-risk coding bootcamps, has raised $900,000 in seed funding. The Peoria-based company will use the money to expand its Education as a Service (EaaS) program offerings and reach more students.

Promineo Tech was founded in 2018 by Nick Suwyn as a technology school designed to make education in software development and related technologies affordable, accessible and low-risk for communities across the country. 

While leading the academic team at a previous coding bootcamp, Suwyn enjoyed seeing what the program did for students, but he also saw how he could improve it. 

“I started Promineo Tech to make quality technology career training accessible to even more people who may still be missing out on opportunities despite the good the industry was already doing,” Suwyn told AZ Tech Beat. “I have passions and talents in software development, education, and helping people – so I wanted to use those together to do something meaningful.”

The company started working with community colleges in early 2020 and established 11 partnerships by the end of 2020. By the middle of 2021, Promineo Tech had partnered with 25 colleges in 19 states, and the company is ahead of its goal to partner with 30 colleges by the end of 2021.

Promineo Tech notes that the average coding bootcamp costs more than $13,500. But the company believes that “quality education should not cost an arm and a leg.”

“In standing by our mission and working with amazing partners, we have lowered the financial barrier to access life-changing education,” according to a statement on the Promineo Tech website.

One important way the company can help colleges offer Promineo Tech programs for nearly a fourth of the average tuition cost is by giving the colleges everything they need to offer their own coding bootcamps and other technology bootcamp programs with zero upfront investment.

The company’s unique teaching model is another critical part of cutting costs. Instead of using the traditional lecture method, the Promineo Tech model uses mini-videos to teach students basic concepts. Instructors can then spend part of class time answering questions and solidifying student understanding. 

“This model enables us to provide quality, individualized education, while also driving down the amount of live instructor time needed to master concepts,” Suwyn said. “It’s part of how we’re able to provide effective bootcamp programs for a fraction of the cost of other competitors.”

Promineo Tech currently offers 18-week programs in front-end and back-end software development. The company claims that these programs will provide students with the skills needed to prepare them for a successful career in the software industry. 

Earlier this year, Promineo Tech was selected as part of the 2021 Startup Collective cohort.