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Coursera raises $64M funding to expand its e-learning platform for Business

TimeOdd Stories - Coursera

Online learning platform Coursera expanding to Enterprise

Online learning platform Coursera has raised $64 million in late-stage funding to continue expanding its training programs for the enterprise.

This brings Coursera’s total funding to $210.3 million and sets the company’s valuation at $800 million. According to Coursera, the majority of the Series D funding came from existing investors GSV Asset Management, New Enterprise Associates, Kleiner Perkins Caufield & Byers and Learn Capital. The round also included participation by new investor The Lampert Foundation.

Founded in 2012, Coursera has become one of the most popular e-learning platforms, and it offers a wide range of college level courses from a number of major universities, including Stanford University, the University of Michigan, Johns Hopkins University and others.

In August 2016, the company began shifting some of its focus to the enterprise with the launch of Coursera for Business, which allows businesses to create their own branded e-learning portals with courses tailored to their needs. In a statement, the company said that Coursera for Business has already been adopted by more than 50 companies around the world, including BCG, BNY Mellon, L’Oreal, Paypal and Air France KLM. Earlier this year, the company also launched a similar platform specifically aimed at government organizations and nonprofits.

In addition to its catalog of more than 2,000 courses, Coursera also recently began offering accredited master’s degree programs in fields such as accounting and data science. Coursera says that its user base now includes more than 26 million people.

According to Coursera Chief Executive Rick Levin, the company’s new funding will allow it to further develop its enterprise offerings, as well as to expand its accredited degree programs.

Online education platforms like Coursera or Udemy have risen in popularity in recent years, particularly for people who are already working but are looking to change careers or complete a degree later in life. Earlier this year, Ireland-based research firm Research and Markets predicted that the global e-learning market could grow to more than $325 billion by 2025.

Online courses have also become more popular at traditional universities, according to a report by Babson Survey Research Group, more than one in four university students are enrolled in a distance learning course.

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Written by TimeOdd

TimeOdd is a leading technology media property, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.



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