Leading online learning platform Coursera has raised a $103 Mn investment in a Series E equity round. SEEK Group, which invests in online employment and education businesses, led the round while existing investors Future Fund and NEA also participated in the funding. The funding round makes Coursera the newest member of Silicon Valley's unicorn club.
Jeff Maggioncalda, Coursera’s CEO stated, “The Fourth Industrial Revolution, marked by advancements in automation and artificial intelligence, is dramatically reshaping our lives, businesses, and jobs. Coursera is at the forefront of preparing individuals, companies, and governments to meet that challenge head-on and turn this disruption into opportunity. The additional funding gives us the resources and flexibility to further expand internationally and to accelerate the development of a learning platform that currently serves 40 million learners, 1,800 businesses, and over 150 top universities.”
Ever since the learning startup raised Series D in June 2017, its learner base has grown from 26 million to 40 million. It now offers 3,200 courses and 310 specializations enabling learners to acquire new skills and earn valuable credentials while also building a pathway towards a full degree. The portfolio of degrees on Coursera has also grown to 14 world-class degrees from the top universities in high-demand areas of business administration, data science, computer science, and public health.
Along the way, it has partnered with top ranked universities like Columbia University, Johns Hopkins and the University of Michigan to launch a health content vertical to address the acute shortage of skilled workers in the industry. Three months ago, Coursera also signed a deal with the Abu Dhabi School of Government, an entity set up to train 60,000 government employees in digital skills like data science and artificial intelligence. Over the years, 190 of the world’s top universities and industry educators have come to partner with Coursera to offer courses, specializations, and degrees that empower over 40 million learners around the world.
The learning startups has also made its headway in empowering businesses as over 1,800 companies trust the company’s enterprise platform Coursera for Business to transform their talent. Given the increased impetus on skilling and reskilling, it is expected that Coursera will continue to scale up.