Education 'disruptor' Jolt secures $14.1m to propel international expansion

A flexible business school aiming to disrupt the education market has raised $14.1m in a funding round led by venture capital specialist Balderton Capital.

Business education firm Jolt has raised the funding in a round which saw participation from Hillsven Capital and Octopus Ventures.

Jolt, which specialises in alternatives to traditional MBA courses, has now raised a total of $23.3m in the past three years.

Founded in 2015 by entrepreneurs Roei Deutsch, Nitzan Cohen-Arazi and Nadav Leshem, Jolt specialises in flexible business courses delivered via live video lessons and workshops.

Jolt CEO Roei Deutsch explained: “Higher education is in a bubble in which a staggering $2.3 trillion is invested every year in something that works for a small minority of people.

“Data shows more than three quarters of graduates believe many higher education programs are no longer fit for purpose; trust and confidence in academia has nosedived in recent years, and the number of applications for MBA courses across most major establishments has fallen.

“Society is clearly ready for an alternative – an alternative that will happen, with or without us.”

The company, which has campuses in London and Tel Aviv, plans to use the funding to further its expansion across the UK, Israel and into the US.

James Wise, partner at Balderton Capital, added: “There is a rapidly increasing demand from both employees and employers for more adaptive forms of professional education.

“Jolt combines a powerful tech platform with a deep understanding of how people really learn to fulfil this demand, giving the learner complete control over when, what and with whom they study.

“We believe Jolt has the potential to help tens of millions of students, who couldn’t otherwise afford the time or cost of a traditional business school, to gain new skills and meet new people.”