Network School sells residential memberships to technologists, remote workers and families, bundling accommodation, meals, coworking, fitness and technology programs on one campus. Polychain Capital is leading a financing at a $2 billion valuation, BlockBeats reported after Polychain founder and CEO Olaf Carlson-Wee announced it at the Network State Conference. Andreessen Horowitz, Coinbase and Network School founder Balaji Srinivasan are participating, but the investment amount wasn’t disclosed.
This isn’t a conventional tuition-and-classes school. Network School’s own terms describe it as an in-person private community, not an accredited educational institution. Members buy access online and travel to the campus for accommodation and related services; the terms also describe memberships that can renew on a recurring basis.
The education piece also feeds a hiring pitch. Candidates first take a practice exam online, then travel to the campus for a proctored version. Network School markets strong performance as a route to a technology job, tying its instruction and residential community to potential employment.
That model has already run into regulation. Malaysian authorities ordered Network School’s Forest City location to close in July after a wider probe found two licensing-law violations, Bloomberg reported in an article published by The Straits Times. Network School now says it operates from the fifth floor of Astana Hub under a memorandum of understanding with Kazakhstan.
The $2 billion valuation is for more than a curriculum: investors are backing an effort to sell housing, workspace, education, fitness and hiring connections as one membership. The announcement didn’t disclose how much capital the financing could provide or say whether it had closed.
Published versions remain available when an article is updated or corrected.
- Revision 1 · Initial publication
Initial publication