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Coursera raises $103M round at reported unicorn valuation
Coursera Inc., a leading player in the competitive online education market, has secured a fresh $103 million round of funding to expand its learning platform.
The startup announced the investment this morning, roughly two years after its previous $64 million raise. Coursera said the total number of people who have taken lessons on its platform jumped from 26 million to 40 million in the period between the rounds.
The San Francisco-based startup offers more than 3,200 online courses that span topics as diverse as medicine and software development. They also vary greatly in depth. Some are free lectures designed to help users gain a basic understanding of a topic, while other courses enable learners to gain certifications in highly specialized fields such as geospatial data analysis.
Coursera even offers full-blown degree programs in partnership with universities. A sizable portion of the startup’s advanced courses are aimed at enterprises, government agencies and other organizations looking to equip employees with in-demand skills. Coursera disclosed in the funding announcement it counts more than 1,800 businesses among its customers.
The startup plans to use new $103 million round to add more users internationally. Speaking to TechCrunch, Coursera Chief Executive Jeff Maggioncalda said he also sees an opportunity in adding tools for connecting enterprises with learners who possess skills they require.
The funding round was led by Australian recruitment giant Seek Ltd. with participation from returning backers New Enterprise Associates and Future Fund. The investment reportedly brings Coursera’s valuation to “well over” $1 billion, making it the latest addition to the ever-growing list of Silicon Valley “unicorn” startups.
Coursera has achieved unicorn status seven years after entering the online education market. The company was established in 2012 by renowned Stanford University computer scientists Daphne Koller and Andrew Ng, who have since founded multiple other ventures. Ng launched a $175 million fund last year to back startups developing new applications of artificial intelligence.
Photo: Coursera
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