Online learning platform Coursera has raised $130 million as part of a Series F round of financing, bringing the company’s cash balance to more than $300m. To date, the California-based company has raised $464m, according to CEO, Jeff Maggioncalda.
The latest round was led by NEA and joined by existing investors Kleiner Perkins, SEEK Group, Learn Capital, SuRo Capital Corp, and G Squared.
“The world is facing unprecedented economic disruption, and the need to develop skills for a digital future is even more apparent”
The ongoing pandemic has accelerated the rate of digital transformation among companies, as jobs of the future will need to be powered by a highly-skilled and distributed workforce, collaborating virtually to deliver value.
“As millions of learners, thousands of campuses and companies, and hundreds of governments turn to our platform, it’s important that we continue to stay well-resourced to serve the world at a particularly challenging time,” said Maggioncalda in a blog post.
“We will use the additional funding to double down on our product and engineering efforts, expand our job-relevant catalogue, and further grow our international presence.”
In particular, Maggioncalda said it gives Coursera the flexibility to meet the considerable demand for two of its Covid-focused initiatives — Campus Response Initiative to help universities teach impacted students and Workforce Recovery Initiative to help governments reskill unemployed workers.
“The world is facing unprecedented economic disruption, and the need to develop skills for a digital future is even more apparent now,” he added.
“We are deeply inspired by how our community of top educators, enterprise learning leaders, and government partners are coming together to serve the world… We are here to enable their efforts in every possible way.”
In other edtech funding news, CampusLogic, a Phoenix-based company providing financial tools and resources to HEIs, has raised $120m to expand its student financial success platform.
