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Austen Allred from living out of his Honda Civic to raising north of 120 Million

Group 175

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🗓️ January 26th, 2024 @ 4pm ET

Austen Allred is the Co-founder and CEO of BloomTech, the company who is disrupting the future of the educational system. This all started from Austen moving to Silicon Valley, living in his Honda Civic  with the hopes of working in the tech industry to raising north of 120 Million.



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Austen Allred

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  • Grew up in Springville, Utah.  At 19, he was sent to Donetsk, Ukraine as a mormon missionary. He became fluent in Russian. 

  • Returned from Ukraine, went to school but dropped out as he felt school wasn't for him -- He was comfortable taking risks and knowing there was uncertainty. Austen knew he wanted to be in tech but didn’t know how to code or had any tangible skills

  • In 2013, at the age of 23,  Austen moved to Silicon Valley and lived out of his Honda Civic while he started learning coding and working out of co-working spaces.

  • After a few months Austen got a job as a growth engineer at a Silicon Valley startup

  • Eventually Co-founding a media platform called GrassWire - It was a news outlet but everything was fact checked.

  • Co-authored the growth hacking textbook Secret Sauce, which became a best-seller and provided him the personal seed money to build BloomTech.

  • In 2017, BloomTech was founded by Austen & Ben Nelson, originally called Lambda School.  Participating in Y Combinator, a San Francisco-based seed accelerator. This experience became the foundation of BloomTech’s rapid growth.

  • BloomTech is an online technology school. Programs are 4 months or as long as 18 months. $0 tuition payments upfront. Students only pay for tuition if grads get a job in the Tech industry making $50K or more. 86% job placement rate in 2022 for job-seeking grads.

  • BloomTech raising North of 120 Million  - BloomTech/Austen was in the middle of the spotlight in Silicon Valley. Eventually realizing they needed to stop fundraising, close the gap of being as 'Silicon Valley Darling ' and get to profitability.

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