The Flatiron School has bagged $5.5 million in a new funding round with Charles River Ventures (CRV) and Matrix Partners as lead investors. Box Group and some angels also contributed to the financing, according to Beta Beat.

Avi Flombaum, the dean of the school, said: "Where most companies take capital to grow, we took it to slow down and make sure we could really get the product right. We can continue our interesting classes, and focus on quality and experience of education - and not just stamping out into other cities and homogenizing our brand."

The institution will use the new capital to improve its intensive web and iOS development courses and the overall quality of educational service it delivers to its students. In addition, the company will beef up training for teachers, software development, and content delivery, and assessment of its students, the report detailed.

Flatiron is also preparing to offer new courses aside from the web and iOS programs that are currently available, Beta Beat reported.