Thinkful has raised $1 million in funding from RRE Ventures, Quotidian Ventures and Peter Thiel

People wanting to learn how to code have no shortage of options. There are college courses, companies like Codecademy and massive open online courses (MOOCs).

You don’t need to take an economics MOOC to know that there’s an opportunity cost for each method though.  Take the college course, and you have to pay college prices. Take a MOOC, and you’re losing one-on-one interaction with an instructor.

With most MOOC retention rates hovering around just 8 percent, the odds of actually completing the course – and therefore learning how to code — are slim.

A company called Thinkful is hoping they have found another, better, method for teaching people how to code – and it’s resting somewhere between a MOOC and a traditional college course.

“It’s this great place in the middle where we provide that level of attention,” said Darrell Silver, Thinkful’s cofounder.  “It’s one on one, at a price point that’s really approachable.”

While Thinkful’s coding courses are hardly massive, they are far more affordable than college courses and are open to anyone who can pay the $300 price tag. Even more, the company boasts that its courses have a graduation rate of more than 70 percent.

Silver chalked this up to the way Thinkful instructors mentor the students.

See Page 2 for how Thinkful’s mentoring process works.

About the Author:

Jake New

Jake New studied journalism at Indiana University, where he was editor-in-chief of the campus newspaper, the Indiana Daily Student. At the IDS, Jake covered the IU administration, minority student issues, and state education policy. After a brief stint at the Bloomington Herald-Times covering IU, crime, and local politics, Jake interned at the Chronicle of Higher Education in Washington D.C, writing about online learning, open-access policies, academic publishing, and ed-tech startups. Jake joined eCampus News as an assistant editor in May 2013, where he continues to cover technology and higher education. His days often begin with a cup of coffee and the sinking feeling that another MOOC story is just around the corner. Follow Jake via Twitter: @eSN_Jake

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