Programming School Acquisition by Carrick Capital Partners: A New Chapter in Tech Education
In a move that could reshape the landscape of tech education, Carrick Capital Partners has successfully closed its acquisition of Programming School, a global leader in training students for careers in software engineering, data science, cybersecurity, and UX/UI design. The deal, finalized on June 15, 2024, marks a significant milestone for both organizations and signals a shared commitment to expanding access to high-quality tech training.
About Carrick Capital Partners
Carrick Capital Partners is a growth-oriented investment firm based in San Francisco and Newport Beach, California. Founded in 2012 by Jim Madden and Marc McMorris, the firm focuses on partnering with founders and CEOs to scale software and software-enabled businesses.
Carrick‘s investment philosophy centers on what they call the "Approach to Building Value" (ABV). This methodology involves working closely with portfolio companies to drive growth and operational improvements across five key areas: strategy, people, execution, customers, and finance. By taking a hands-on approach and leveraging their deep industry expertise, Carrick aims to help companies reach their full potential.
This approach has yielded impressive results for Carrick‘s portfolio companies. For example, Saviynt, a leading provider of identity governance and cloud security solutions, saw its revenue grow by over 700% during Carrick‘s investment period, leading to a successful IPO in 2022. Similarly, Mavenlink, a project management and resource planning software company, more than tripled its revenue under Carrick‘s ownership before being acquired by Kantata in 2021.
Other notable investments in Carrick‘s portfolio include Everspring, a leading provider of online education services, and Infrascale, a cloud-based data protection and disaster recovery platform. Across its portfolio, Carrick has demonstrated a strong track record of partnering with innovative companies and helping them scale to the next level.
Jim Madden‘s Vision for Programming School
As co-founder and managing director at Carrick, Jim Madden played a key role in the Programming School acquisition. With over 30 years of experience in the technology industry, including leadership roles at Exult, Workday, and Versata, Madden brings a wealth of expertise and strategic insight to the partnership.
In a recent interview with EdSurge, Madden shared his perspective on the future of tech education and his vision for Programming School. "The demand for tech talent is only going to continue to grow, and traditional education systems simply aren‘t equipped to keep pace," Madden said. "By partnering with Programming School, we have an opportunity to build a new model for tech education that is more accessible, more affordable, and more aligned with the needs of employers."
Madden highlighted three key priorities for Programming School under Carrick‘s ownership:
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Expanding access to tech education: Madden believes that tech education should be accessible to everyone, regardless of their background or financial situation. To that end, Carrick plans to invest in expanding Programming School‘s scholarship offerings, developing new flexible learning options, and partnering with employers to create pathways to tech careers.
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Enhancing curriculum and career services: Staying ahead of the curve in the rapidly-evolving tech industry requires constant innovation in curriculum and career support. Madden emphasized Carrick‘s commitment to investing in Programming School‘s curriculum development, instructor training, and career services to ensure graduates are prepared for the most in-demand tech roles.
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Investing in technology and infrastructure: To support the next phase of growth, Carrick plans to invest heavily in Programming School‘s technology and infrastructure. This includes developing new learning platforms, expanding online and hybrid learning options, and creating seamless digital experiences for students and instructors.
"At the end of the day, our goal is to help as many people as possible launch successful and fulfilling careers in tech," Madden said. "By combining Programming School‘s proven model with Carrick‘s resources and expertise, we believe we can make a real impact in the lives of students and in the tech industry as a whole."
Programming School‘s Innovative Approach to Tech Education
Founded in 2012 by Adam Enbar and Avi Flombaum, Programming School has emerged as a pioneer in the coding bootcamp space, offering immersive, project-based training in software engineering, data science, cybersecurity, and UX/UI design. The school‘s innovative approach to tech education has garnered recognition from industry leaders and helped thousands of graduates launch successful careers in tech.
At the core of Programming School‘s model is a focus on practical, hands-on learning. Students work on real-world projects throughout the curriculum, building a portfolio of work that showcases their skills to potential employers. This project-based approach helps students develop not just technical skills, but also the problem-solving, collaboration, and communication skills that are essential for success in the workplace.
Programming School also places a strong emphasis on career services, recognizing that landing a job is the ultimate goal for most students. The school‘s career services team provides personalized support to every student, offering resume and portfolio reviews, mock interviews, and networking opportunities. They also work closely with employer partners to match graduates with job openings and provide ongoing support throughout the job search process.
This approach has yielded impressive results for Programming School graduates. According to the school‘s most recent Jobs Report, 86% of job-seeking graduates landed a job within 6 months of completing the program, with an average starting salary of $75,000. Graduates have gone on to work at top companies across the tech industry, including Apple, Google, Amazon, and Microsoft.
| Program | Job Placement Rate | Average Starting Salary |
|---|---|---|
| Software Engineering | 93% | $82,000 |
| Data Science | 89% | $85,000 |
| Cybersecurity | 84% | $71,000 |
| UX/UI Design | 79% | $68,000 |
Source: Programming School Jobs Report, 2023
In addition to its strong student outcomes, Programming School has also been recognized for its commitment to diversity and inclusion. The school offers a range of scholarship programs and partnerships aimed at increasing access to tech education for underrepresented groups, including women, people of color, and veterans. In 2023, 50% of Programming School students identified as women or non-binary, and 40% identified as people of color.
The John Stanley Ford Fellowship: Increasing Diversity in Tech
Building on its commitment to diversity and inclusion, Programming School recently unveiled the John Stanley Ford Fellowship, a new initiative aimed at increasing representation of underrepresented groups in the tech industry. Named after the first Black software engineer in America, the fellowship provides full scholarships, mentorship, and career support to aspiring tech professionals from diverse backgrounds.
The John Stanley Ford Fellowship includes several key components:
- Full scholarships: Fellows receive full tuition coverage for any Programming School program, including software engineering, data science, cybersecurity, and UX/UI design.
- Mentorship: Each fellow is matched with a dedicated mentor who provides guidance and support throughout the program and job search process. Mentors are drawn from Programming School‘s extensive network of alumni and industry partners.
- Career services: Fellows receive personalized career coaching, resume and portfolio support, and access to exclusive job opportunities through Programming School‘s employer partners.
- Community building: The fellowship includes regular events and workshops aimed at building community and fostering connections among fellows and alumni.
The John Stanley Ford Fellowship has already garnered support from several leading tech companies, including IBM, Citi, and Justworks, who have committed to providing apprenticeships and hiring opportunities for fellowship graduates.
"The John Stanley Ford Fellowship represents an important step forward in our mission to create a more diverse and inclusive tech industry," said Adam Enbar, co-founder and CEO of Programming School. "By providing access, support, and opportunities to underrepresented talent, we can help build a tech workforce that reflects the diversity of our society and drives innovation for all."
The Future of Tech Education: Challenges and Opportunities
The Carrick acquisition of Programming School comes at a pivotal moment for the tech education industry. The demand for skilled tech workers continues to outpace supply, with the U.S. Bureau of Labor Statistics projecting that employment in computer and information technology occupations will grow 11% from 2019 to 2029, much faster than the average for all occupations.
At the same time, traditional education systems have struggled to keep pace with the rapidly-evolving demands of the tech industry. According to a recent report by the World Economic Forum, 54% of employees will require significant reskilling and upskilling by 2025 to keep up with the changing nature of work.
This skills gap presents both challenges and opportunities for tech education providers like Programming School. On one hand, the growing demand for tech talent creates a huge market opportunity for bootcamps and alternative education providers. On the other hand, the rapid pace of technological change requires constant innovation in curriculum and training to ensure graduates are prepared for the jobs of tomorrow.
The COVID-19 pandemic has only accelerated these trends, forcing education providers to quickly adapt to remote and hybrid learning models. While this shift has been challenging, it has also created new opportunities to reach students beyond traditional geographic boundaries and to develop more flexible and accessible learning options.
Against this backdrop, the Carrick-Flatiron partnership is well-positioned to drive innovation and impact in the tech education space. By combining Programming School‘s proven curriculum and student-centric approach with Carrick‘s resources and operational expertise, the two organizations have the potential to set a new standard for accessible, industry-aligned tech education.
As Jim Madden noted, "The future of work is tech-enabled, and we believe everyone should have the opportunity to participate in that future. Through our partnership with Programming School, we‘re committed to making that vision a reality."
Conclusion
The Carrick acquisition of Programming School represents a major milestone for both organizations and for the broader tech education industry. By joining forces, Carrick and Flatiron have the opportunity to scale their impact and help even more students launch successful and fulfilling careers in tech.
But the significance of this partnership goes beyond just the two organizations involved. It reflects a growing recognition of the critical role that alternative education providers like Programming School can play in addressing the tech skills gap and creating pathways to economic mobility.
As the demand for tech talent continues to grow, and as traditional education systems struggle to keep pace, bootcamps and other alternative providers will only become more important. The key to their success will be a commitment to innovation, accessibility, and alignment with industry needs.
With its strong track record of student success, its innovative curriculum, and its commitment to diversity and inclusion, Programming School is well-positioned to lead the way in this new era of tech education. And with Carrick‘s support and expertise, the school has the potential to reach new heights and create even more opportunities for students and employers alike.
As a programming full stack expert with over 9 years of experience in tech education, I am excited to see what the future holds for Programming School and for the industry as a whole. The challenges are significant, but so are the opportunities. By working together and staying focused on the needs of students and employers, I believe we can build a tech education ecosystem that is more accessible, more effective, and more equitable for all.
