The Series D round of investment will be used to expand the platform’s master’s degree portfolio and further develop its products, the company has said.

The funding came from GSV Asset Management, New Enterprise Associates, Kleiner Perkins Caufield Byers and Learn Capital. A new investor, The Lampert Foundation, also provided a chunk of the capital.

“This round of funding enables us to continue innovating across our platform”

“In a global marketplace and knowledge-based economy, education makes the difference not only for how well an individual does, but for companies, and for that matter, countries,” said Michael Moe, founder and CEO of GSV Asset Management.

Since its inception five years ago, Coursera has hosted over 26 million learners on its site, and has offered more than 2,000 courses.

Rick Levin, the company’s CEO, said that there is an opportunity to prepare people, companies and governments “to respond to the changing nature of jobs and to take on the urgent challenges of workforce transformation.”

“This round of funding enables us to continue innovating across our platform to deliver better learner outcomes, and to accelerate the momentum we have in our new initiatives — enterprise and degrees,” he said.

Earlier this year, Coursera launched a new division, Coursera for Governments and Nonprofits, which allows both groups of stakeholders to develop study programs for groups of learners, including employees and staff.

The platform also rolled out a new monthly and annual subscription model at the end of last year, for its Specialization course bundles, in a bid to improve completion rates and attract new learners.