Corporate News

Continuing to address UK digital skills gap & securing further revenue visibility

Northcoders (AIM:CODE), the independent provider of training programmes for software coding, is pleased to announce that the Group has been successful in securing further funding from the  Department for Education Skills Bootcamps Wave 3 bid. This new round of funding provides Northcoders with £4 million worth of scholarships to train individuals on their market-leading bootcamp.

The new contract provides the Company with revenue visibility into FY23, which is expected to be another year of significant growth. Signing contracts such as this, and Northcoders initiatives such as the new corporate Developer Incubator, enable the Company to plan revenue further into the future than ever before providing comfort for future targets.

The funding has been awarded not only to teach software development, which is the Group’s core offering, but can also be used to fund students in the Group’s new Data Engineering business unit. The Data Engineering unit to be launched in Q4 2022, is the next discipline within the Company's product growth plan. The scholarship seats are eligible for award anywhere in England, which therefore also provides an opportunity to further grow the Company’s geographical footprint including in London and other areas of the south of England.

Chris Hill, CEO, commenting on the contract win said: “I am delighted that Northcoders been able to secure this additional £4 million government funding through the Department for Education. As well as providing the Company with additional revenue visibility, it also demonstrates how well-regarded our technology training courses are in the UK.

“With one of the Company’s core values being to improve diversity and inclusion within the tech industry, Northcoders are pleased to continue to offer these scholarships that provide accessibility to people from all walks of life across the UK whilst helping address the significant UK digital skills gap.”

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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Notes to Editors

Northcoders is a market leading provider of B2B and B2C coding and software development training. Founded in 2015, its business model operates a hybrid structure with flagship sites in Manchester and Leeds supported by a best in class digital offering to businesses and individuals across the UK.

Powered by IP rich technology, Northcoders' coding school offers bootcamp courses to consumers from a range of backgrounds, delivered through virtual and physical learning.  The Group also works with blue chip corporates across multiple sectors to supply innovative EdTech solutions for the upskilling and reskilling of employees, and is a registered provider of government-backed apprenticeships in the field.

With a keen focus of inclusivity, diversity and quality at its core, Northcoders aims to address the digital skills gap in the UK to meet the increasing demand for digital specialists from corporates and government. It operates in a significant and growing market with structural growth trends further accelerated by Covid-19.

Northcoders was admitted to trading on AIM in July 2021 with the ticker CODE.L.  For additional information please visit www.northcodersgroup.com .