KASZEK led a USD2.7m seed round for Crack the Code, a Peruvian coding platform for K-12 students.

(Press Release) – Crack the Code, the coding platform
startup revolutionizing K-12 education in Latin America by
providing much needed computer science training in a fun, simple
and accessible format for Spanish-speaking children 5 to 18,
today announced its first-ever seed raise, $2.7M USD, led by tech
venture capital firm Kaszek.

Crack the Code offers live online computer science and coding
classes for small groups of students and individuals. The
structured learning programs are composed of several courses
according to the age and interests of the students and take place
in a fun and rewarding environment leveraging gameplay
elements. Crack the Code teaches small groups students, up to
no more than 5 children at a time, from all over the region, and
offers monthly, bi-monthly or yearly learning curriculums.. The
brand also has social-focused, K-12 educational curriculums and
works with public/private schools and universities to provide easy to-implement programming.
More than 5,000 kids and teenagers, in 22 countries, are already
subscribed to the platform, and this investment will help the
company expand its footprint in the region to reach even more
families, add more subscribers, and build new partnerships to
expand access to the platform.

“As a Peruvian company, we see first hand the gap that exists
between the millions of kids in public and private school and
access to computer science and coding, essential skills that open
opportunities for higher education and future job placement,” said
Maria del Mar Velez, founder and CEO of Crack the Code. “This
first investment from Kaszek and our strategic partners, leaders in
the region when it comes to promoting access to technology and
education, will help us scale our business to reach more children,
continue to expand our platform, and forge new local and regional
partnerships.”

With rapid acceleration and more access to digital education tools
in the region, the team of investors will work closely with the
Crack the Code team expand the company’s footprint and support
the brand with its experience in technology and education
throughout the region to help Crack the Code in this next
evolution, market growth and subsequent momentum.

Closing the Skills Gap in Latin America

According to the HarvardKennedy School’s Belfer Center for
Science and International Affairs, there is a critical need in the
region to develop a robust STEM-skilled workforce. “Any
conversation about technical talent in Latin American
governments would be incomplete without a serious consideration
of the required investment in STEM education at the K-12 level,
as well as higher education in the region,” notes author Ena
Lozano.

For Crack the Code, coding is a much needed solution to an
overarching human capital issue that Latin America faces. The
startup believes that education is the key to helping the region
grow and that training children from a young age in computer
sciences is key. Crack the Code provides children and young
people with a clearer perspective on the use of technology, its
applications in real life, and in their future professional careers.
“We are totally convinced that the combination of powerful
technology aligned with great entrepreneurs will help bridge the
gap that Latin America faces when serving its population,” said
Hernan Kazah, partner at Kaszek. “The digitalization of education
is one of the key areas where we see a terrific opportunity and
Crack The Code is offering a high-quality solution to start
addressing this need throughout the region.”

About Crack the Code

Crack the Code is revolutionizing K-12 education by providing
Latin American children with a fun, easy and accessible way to
learn coding -anytime, anywhere. Their structured learning
programs provide students in small groups courses that can be
customized to age and interest. To date, more than 5,000
students in over 22 countries have subscribed to courses.
Students from key markets in Latin America include Peru, México,
Costa Rica, and Guatemala.

About Kaszek

Kaszek Ventures is a venture capital firm that partners with
exceptional entrepreneurs to build lasting, high-impact
technology-based companies whose main initial focus is Latin
America. The firm is industry and stage agnostic, mainly investing
in Seed, Series A and Series B. In addition to capital, it provides
first-hand expertise and insights in strategy, operational
execution, team building, growth, technology, product, networking,
fundraising and more. Some of the fund’s portfolio companies are:
Nubank, QuintoAndar, Kavak, Creditas, TheNotCompany, Konfio,
Kavak, Bitso, Loggi, GymPass, MadeiraMadeira, Escale, Kushki,
NuvemShop, DigitalHouse, LaHaus, and CrediJusto.
www.kaszek.com/portfolio. For additional information please
contact: [email protected]