The idea of higher education has been around for ages. For those interested in business, getting an MBA degree is one of the most popular routes to go. Sadly, today’s higher education system isn’t living up to the expectations of students. In fact, surveys show that more than 79 percent of graduates don’t believe the current model is working.
That’s where Jolt comes in. The bright new startup is aiming to disrupt the education world with its in-person, pay-monthly MBA-style courses. Thanks to a $14.1 million Series A funding round, it is well on its way to making some big waves.
What is Jolt?
Jolt offers an array of courses for professionals looking to advance their careers. Whether they want to pursue a NAMBA (Not an MBA) degree or simply want to take one class, the startup has something for everyone.
It currently operates three campuses in London. The startup claims that the three combined have more students than the London Business School. Jolt also runs seven locations across Israel. This isn’t a coincidence considering that its CEO and co-founder Roei Deutsch is from the country.
He says that the Jolt model is inspired by his time in the Israeli Defense Forces. He watched ordinary citizens become intelligence officers in mere months thanks to carefully-organized government training. With a similar approach to education for professionals, Jolt offers flexible courses that break the mold of traditional colleges.
Its campuses offer classes outside of normal working hours so that students can study alongside their day job. These are taught by industry leaders who also work for top companies like Google, Netflix, and others. Deutsch says, “This ensures our curriculum is as up-to-date and relevant as possible.”
Although Jolt’s classes are primarily for those with undergraduate degrees and two years of work experience, people without a degree but with three years of experience can also enroll. The company allows students to pay on a monthly basis as they custom-build their own diploma or take individual classes.
Deutsch says that typically “Lessons and workshops revolve around practical application of the skills, debates and discussions, role-playing and other interactive tasks.”
As a three-year-old startup, Jolt has raised more than $23 million to date. A significant portion of that, $14.1 million to be exact, comes as part of a Series A funding round led by Balderton Capital, Hillsven Capital, and Octopus Ventures.
With its new cash Jolt plans to continue expanding across the U.K. and Israel. The startup will also open its first U.S. campus with a location in Manhattan.
Deutsch has plenty of optimism about his company’s future. He says, “Higher education is in a bubble in which trillions are being invested in something that works for a small minority of people… At Jolt, we’re creating a high-end, in-person, widely global and affordable higher education platform that people can actually see as an alternative to traditional higher education.”
Thanks to its new funding and an abundance rising business professionals that aren’t happy with today’s education system, Jolt has a bright future ahead of it.