£10m boost for Northcoders under new contract - Insider Media
Summary
Technology training business Northcoders has won a new contract with the Department for Education.The company, which operates across Manchester, Leeds, Newcastle and Birmingham, has secured funding from the Department for Education Skills Bootcamp Dynamic Purchasing System 2 bid.The new round of funding provides the business with a further \xa310m to train individuals and provides it with strong revenue visibility for FY24 and H1 2025.It also underpins a 18.6 per cent increase in revenue per student, compared to the last nine month Wave 4 contract.This funding has been received for the groups core B2C Software Engineering, Data Engineering and Cloud Engineering bootcamp courses.Chris Hill, chief executive 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."