SAN FRANCISCO — Udemy, which operates a global marketplace for learning and teaching online, has raised $50 million in a Series F financing. The new round values Udemy at $3.25 billion.
The funds raised from investors including Learn Capital will help the company to continue to grow its consumer and business product offerings.
Other Udemy investors include Insight Partners, Learn Capital, Prosus, Norwest Venture Partners, Stripes, and Benesse Holdings.
“To succeed in today’s rapidly changing world requires new skills and a focus on continuous learning,” said Gregg Coccari, CEO of Udemy. “This year upended everything about how we live and work, and people everywhere turned to online learning to help them meet new challenges. We’re perfectly positioned to meet these demands and help drive success for individuals, businesses, and governments.”
With Udemy, any individual or organization can find the right expert instructors to help them get the skills they need to stay ahead. Udemy instructors are real-world practitioners with a pulse on the latest technologies and business strategies, and learners choose from the largest selection of courses based on their preferences. Today, 35 million students globally learn from 57,000 instructors who collectively teach over 130,000 courses.
“Built for the real world and enlisting the world’s most motivated experts to share their knowledge, Udemy has created an engine that propels individuals and businesses to succeed,” said Rob Hutter, Managing Partner at Learn Capital. “Our latest investment underscores our continued confidence in the company. We believe Udemy has the right platform and business architecture to dramatically extend its growth as individuals and companies recognize the power of lifelong learning to drive personal and corporate performance.”
With the pandemic, the future of work dramatically accelerated. Businesses underwent massive shifts in business operations overnight. Individuals and companies around the world turned to learning to help navigate a new world of dispersed workforces, constant change, and uncertain economic conditions. As countries enacted stay-at-home advisories and national closures, course enrollments across the entire Udemy marketplace platform increased more than 425%, consumption across Udemy for Business surged 90%, and the company saw a 55% increase in course creation by instructors. To date, the company has seen over 400 million course enrollments globally.
Powered by the Udemy marketplace, Udemy for Business was built for the future of work and designed to serve the next generation of workplace learners. With subscription access to a collection of 7,000 relevant courses on the most in-demand skills, customers can upskill their workforces and harness learning to drive business performance. In October, the company announced that Udemy for Business has surpassed $100 million in annual recurring revenue (ARR) with notable customers like The Walt Disney Corporation, Apple, Unicef, PayPal, Accenture, Samsung, Unilever, Instacart, Survey Monkey, Okta, and others.