MOUNTAIN VIEW — Online education company Udacity said total revenues were approximately $90 million in 2018. The company reported 25% year-over-year overall revenue growth, highlighted by 100% enterprise revenue growth.
Udacity now has 10 million registered students across all of its programs, up from eight million at the end of 2017. Last year, the company invested in enterprise offerings, accelerated content creation initiatives, expanded career services, exceeded 200 industry partners globally and added 20 new enterprise clients to a list of over 50 worldwide.
Udacity Nanodegree programs provide credentials earned through a series of online courses and projects in an array of subjects from self-driving cars and AI to data science and digital marketing. Udacity collaborates with more than 200 global industry partners, including AT&T, Google, Facebook, Lyft, and IBM, to close talent gaps. Headquartered in Mountain View, the privately-funded company has operations in China, Egypt, Germany, India and the United Arab Emirates. Investors include Bertelsmann, Andreessen Horowitz, Charles River Ventures and Drive Capital.
“In 2018, we saw tremendous demand from Fortune 500 companies who are working with us to re-skill and level-up their existing workforces. Udacity has the learning programs in artificial intelligence, machine learning and data science to transform workforces at scale,” said Sebastian Thrun, co-founder, president and executive chairman at Udacity.
In February 2019, Lalit Singh joined the company as Interim COO reporting to executive chairman Thrun. Singh comes to Udacity with over a decade of operational experience including senior operational roles at Hewlett-Packard and GE. Singh has extensive experience running and scaling complex operations and driving growth initiatives in consumer and enterprise businesses.
Udacity connects learning to jobs through online, project-based education developed with and for industry. In late 2014, Udacity launched its Nanodegree programs, starting with mobile and web development curriculum in collaboration with AT&T and Google. Four years later, Udacity had 33 Nanodegree programs and an alumni network of more than 65,000 Nanodegree program graduates as of December 31, 2018.
In 2018, the company:
- Brought in new enterprise client wins including some of the world’s leading oil and gas, aerospace, professional services, and telecommunications companies.
- Launched ten new Nanodegree programs: AI Programming With Python, Artificial Intelligence for Trading, Blockchain Developer, Computer Vision, Data Scientist, Deep Reinforcement Learning, Flying Car, Google Analytics, Natural Language Processing, and Programming for Data Science.
- Expanded career services and launched 12 free career courses, built in collaboration with Google, with nearly 100,000 enrollments.
- Added more than 50 new partnerships, including IBM, Facebook, Unity and Infosys for a total of more than 200 industry partners.
- Funded over 1.1 million new partial and full scholarships to its programs for students across North America, Europe, the Middle East and Asia.