Russell Square Partners leads investment in Bitmaker Labs

Canadian private equity firm Russell Square Partners has led a substantial equity investment in Bitmaker Labs. The value of the deal was not published. Founded in 2012, Bitmaker is a provider of education in computer programming and technology, including web development and user experience design. Concurrent with Russell Square’s investment, the company announced the appointment of a new management team led by president Andrew Mawer and CEO Craig Hunter. Bitmaker said proceeds of its investment will support curriculum development, hiring of additional teachers, improvements to its Toronto flagship location, and expansion opportunities.

PRESS RELEASE

Russell Square Partners announces investment in Bitmaker Labs

Toronto, Canada – Bitmaker Labs has received a substantial equity investment from a group led by Russell Square Partners, a Toronto-based investment firm. The investment will fund new curriculum development, additional teachers, and improvements to the firm’s flagship location in downtown Toronto at King and Simcoe. The funds will also allow for future geographic expansion and further course development in internet and technology disciplines.

Concurrently, Bitmaker Labs has appointed a new management team to lead the company in its next stage of growth. Co-Founder Andrew Mawer will assume the responsibilities of President and will continue to drive the strategic and financial priorities for the company. Bitmaker Labs has recruited Craig Hunter as Chief Executive Officer. He will lead the company’s growth by managing the sales, marketing, and daily operations of the company. Previously, Mr. Hunter was an early employee at Uber and contributed to its exponential growth from a 50-employee start-up to one of the world’s most valuable private internet companies. As well, Bitmaker has promoted Julie Haché to Chief Technology Officer & Head of Instruction. Ms. Haché brings extensive software and engineering experience from her prior role as a developer at Shopify working on its core application – one of the largest Ruby on Rails applications in production today.

“We are excited to help Bitmaker remain at the forefront of this growing industry and continue delivering world-class education to our students,” said Dan Baum of Russell Square Partners.

Founded in 2012, Bitmaker Labs is Canada’s first and largest coding boot camp. The company is dedicated to providing a practical education in computer programming and technology, including web development and user experience design. Within three months of graduating from the full-time program, 88 per cent of students secure a job in the technology sector, with several graduates finding jobs at top Canadian companies like Hootsuite, Chango, Shopify and The Working Group. Some graduates have gone on to raise over $1 million in funding for new ventures and have been featured by TechCrunch and CBS. Students from all over the world, from countries such as the United States, Brazil, England, France, Poland, China, Japan, and Australia have traveled to Toronto to attend Bitmaker programs.

“Bitmaker delivers a cutting-edge, market-driven education targeting the massive demand for jobs in the rapidly growing technology industry,” said Mr. Hunter. “We are excited to collaborate with Russell Square and grow the company by building our team, expanding our course offerings and supporting our alumni network.”

About Bitmaker Labs:

Bitmaker Labs’ graduates include full-stack developers, front-end developers, and user-experience designers trained in bleeding-edge web technologies. Founded in 2012, Bitmaker Labs is Canada’s largest coding boot camp and the first of its kind in the country. The company is committed to equipping its students with market-driven education in programming, design, and more.

For more information, please visit www.bitmakerlabs.com

Contact: craig@bitmakerlabs.com

About Russell Square Partners:

Russell Square Partners is a Toronto-based private equity firm focused on growing a small group of exceptional, high-quality companies that are leaders in their niche markets. With a longer time-horizon than traditional PE firms, Russell Square invests in profitable Canadian businesses with exceptional management teams and compelling growth opportunities. Typical investments include management-led buyouts, growth equity, and owners interested in selling or recapitalizing closely held businesses.

For more information, please visit www.russellsquarepartners.com

Contact: dbaum@russellsquarepartners.com

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