MasterSchool - Building Tech Careers Since 2019
- Itamar Vaknin
- Jun 23, 2024
- 5 min read
In the fast-paced and ever-changing tech ecosystem, traditional educational courses frequently fall short of providing students with the required tools for today's dynamic tech employment market.
Masterschool, founded in 2019, has emerged as a pioneering educational startup dedicated to redefining technology education and keeping up with the market. The company operates as a global network offering specialized online training crafted by industry leaders, providing students with access to vital skills that are in high demand in today's marketplace.
Starting with a selective admission process to identify the most motivated and suitable candidates, chosen students are later guided through a curriculum that includes varied courses, accelerators, and workshops, supported by a vibrant community, nurturing environment, and personalized mentoring.
Currently, MasterSchool employs a distinctive business strategy within the education sector. Students are only required to pay tuition once they find work, which significantly reduces financial pressures and increases access to education. Upon employment, graduates pay 10% of their wages until the whole tuition is paid, approximately $15,000. This innovative approach demonstrates MasterSchool's commitment to student development and achievement, providing a sense of relief to potential students about the financial burden of education.
MasterSchool offers courses in data analytics, software engineering, and cybersecurity. These courses are designed and taught by industry experts, ensuring that students receive the most up-to-date and relevant education. The company also plans to expand its offerings to include chip design, AI engineering, and quantum computing, further enhancing the diversity and depth of its curriculum.
A few thoughts from a student writer perspective:
According to a 2022 report by Israel Innovation Authority, 80% of the Israeli tech workforce holds academic records, a figure that increases as companies expand. Within the Israeli tech employees, 54% have pursued high-tech-related academic fields such as computer science, engineering, and biotechnology, and another 14% from broader STEM fields like chemistry, biology, and industrial engineering. In contrast, only 9% have transitioned into tech roles through non-academic training paths, establishing academia as the traditional gateway into high-tech careers.
However, the landscape is evolving. Non-academic training models are gaining traction as significant entry points into the tech industry, particularly for roles in QA and IT, where the practical skills taught in these programs are highly applicable. In contrast, roles that demand a broader skill set, such as data, product, and project management, still typically require academic credentials.
This shift highlights a growing recognition that certain tech professions can be effectively entered through non-academic training, which can significantly reduce study time—by as much as threefold—saving both time and money.
As more young people are discovering that they can launch tech careers not only through traditional academic pathways but also through practical, skills-based training programs.
Additionally, COVID-19 has profoundly impacted the educational landscape, accelerating the shift toward remote learning and underscoring the benefits of flexible educational models. MasterSchool, with its emphasis on remote, skills-focused courses, has become increasingly attractive to individuals, including those with academic degrees seeking to augment their education and better prepare for tech careers.
Dovi Frances, founder and managing director of Group 11, criticizes the traditional education model as fundamentally flawed. He argues that despite generating billions of dollars annually, the industry consistently fails at every stage of job market preparation—from identifying and training candidates to ultimately placing them in suitable roles.
According to Frances, this widespread failure disproportionately affects individuals without financial means, limiting access to professional education in high-paying fields like software engineering and AI. He sees this not only as a market failure but as a correctable systemic social issue, an area where MasterSchool's model offers a progressive alternative.
MasterSchool distinguishes itself with its fully online, community-centric platform, setting it apart from competitors like Jolt and Infinity Labs, which rely on physical locations for onsite courses. MasterSchool, however, has adopted a more holistic approach by not only offering a wide range of courses but also fostering a robust networking community for its students, all without the overhead costs associated with physical spaces.
Founding & Funding Stories:
The four founders, Eran Glicksman (CTO), Roi Tzikorel (Chief of Impact), Michael Shurp, and Otni Levi (Co-CEOs), had previously collaborated on educational projects focused on bridging social divides before establishing the company. While researching the most painful problems for most people getting into the tech industry, the founders attended an education conference in Ramat Gan (a city in Israel) with a questionnaire to explore the challenges and opportunities in the hi-tech market.
During this event, the founders encountered a young man who shared his struggles of working for minimum wage and being accepted to studies without the means to fund them. This encounter inspired the creation of the company, with that young man becoming the first student at Master School and eventually securing a job at Invidia.
In 2022, MasterSchool achieved a remarkable milestone by raising $100 million in its seed round, a very high amount for seed. The round was led by Group 11, with the participation of Pitango (invested by Chemi Peres), Target Globall, Dynamic Loop Capital, and Sir Ronald Cohen.
The company's decision to raise funds came at a strategic moment. Despite being profitable early on with minimal expenses, MasterSchool recognized the opportunity to scale its operations and fulfill its mission to become a global and influential entity in the education sector. This strategic funding is poised to accelerate their expansion and enhance their offerings worldwide.
Today, MasterSchool has over 10,000 students and graduates working for over 600 different companies, including Wix, Google, Amazon, Tesla, and eBay.
Impact:
MasterSchool proudly identifies as an impact company, following a philosophy of achieving a "double bottom line": not only succeeding in business but also making substantial social contributions.
The company's strong social responsibility is demonstrated by its initiatives to increase diversity in the educational field. It actively works to improve the representation of underrepresented groups, such as women, people from rural areas, people with less education, immigrants, and those without a typical academic background.
This commitment to social equity and inclusion is a key aspect of MasterSchool's mission, making investors and partners feel the social significance of their involvement.
In summary, MasterSchool revolutionizes education through its unique method of offering online learning that is accessible to all, along with a tuition model where payment is made after securing a job. This ensures that education is fair and widely available. The school not only promotes technological progress but also makes efforts to involve marginalized communities, contributing to the creation of a diverse tech sector.