SOURCE: One Month

One Month

June 30, 2015 08:00 ET

One Month Raises $1.9 Million to Fix Online Education

NEW YORK, NY--(Marketwired - Jun 30, 2015) - One Month, the first-ever online school for accelerated learning, announced today it has raised a $1.9 million additional seed round, its second seed round since graduating from Y Combinator in summer 2013, from Arena Ventures, Idea Bulb Ventures, Cornerstone OnDemand, and several others.

  • Idea Bulb Ventures, an earlier investor, co-led the round along with Arena Ventures.
  • As part of the round, Cornerstone OnDemand also joined as a strategic investor, participating through the Cornerstone Innovation Fund.

This round puts the total amount raised by One Month at $2.6 million to date. The funds will go towards hiring teachers, building out the One Month learning platform, and growing enterprise sales with the new One Month for Teams offering.

The company famously created Teach Yourself to Code: One Month Rails, a course designed to teach total beginners how to build their first-ever web application in Ruby on Rails, which broke records for enrollment and became the #1 best-selling course on Skillshare. From the success of this course, Griffel spun this into his own learning platform and created One Month, a online school focused on teaching beginners how to build things in a short amount of time.

"This isn't about college or fancy degrees. It's true applied learning -- the kind of skills that have an immediate impact on your career, your company, your abilities, and your life," said Paige Craig, General Partner at Arena Ventures. "You don't have to waste months or years in a boring classroom. Your boss doesn't have to give you off days to go learn. You don't have to drive two hours and suffer in a lecture. With One Month you learn on your own time from wherever is most convenient, leveraging condensed, practical video lessons from the best instructors in the world."

One Month recently changed its pricing model to subscription licenses, encouraging students to explore and discover new interests. Since launching subscriptions, One Month has added over 1,000 paying subscribers, putting its total number of students at over 25,000. Since May of last year, the company has tripled its revenue and quadrupled its number of courses available.

CEO Mattan Griffel says that they plan to continue tackling and solving some of the biggest challenges faced by online education: low completion and engagement rates, rising questions around effectiveness and outcomes, and the nature and scope of online educational courses. "We've already seen that with our courses, student completion rates are double or triple the industry average," Griffel explained. "Our approach is unique, in that we create project-based curriculums that are short yet impactful, giving students practical, tangible new skills in four weeks or less."

One Month's high completion rates can be attributed to being one of the first online schools to offer project-based curriculum, high-quality content built for online consumption, and real-time, personal support. Earlier this year, the company received a Skillie education award for Best Provider for Time Sensitive Learners.

Chris Castiglione, Co-Founder and Dean, shared the importance of creating tools that teachers can use. "We also need to rethink what it means to be a teacher," Castiglione shared. "How do we elevate teachers in society? How do we reinvent the way that online tools can bring the wisdom of rockstar teachers to the masses?" By creating a custom in-house video studio, One Month aims to make teaching easier, faster, and iterative.

The company plans to roll out several new series of One Month courses broken down into three major schools: the Technology School, the Business School, and the Design School. Upcoming courses include One Month Javascript, One Month Sales, and One Month UX.

ABOUT ONE MONTH, INC. One Month, Inc. is a New York City-based online school for accelerated learning that teaches people how to build web apps in under a month. Founded by Mattan Griffel (CEO) and Chris Castiglione (Dean) after graduating from the 2013 Y Combinator program, the company has 9 courses that have reached over 25,000 students.

Contact Information

  • For questions, contact: Email Contact

    Mattan Griffel
    CEO
    646-543-3180

    Sarah Peck
    Director of Communications
    415-813-7262

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