Udemy Completes $32M Series C Financing

udemy_logo_600Udemy, a San Francisco, CA-based marketplace for learning and teaching online, completed a $32m Series C financing.

The round was led by Norwest Venture Partners (NVP), with participation from existing investors Insight Venture Partners and MHS Capital.

The company, which has now raised $48m, plans to use the new capital to broaden its content library, expand its international presence and enhance its course creation and teaching platform, including tools to help instructors engage more deeply with current and future students.

Founded in 2010 and led by Dennis Yang, CEO, Udemy provides a marketplace for online learning that makes content from experts available to anyone, anywhere. It currently offers more than 16,000 courses on a wide range of topics. Experts worldwide can create and deliver consumer-grade online learning experiences where students can learn on demand at their own pace. In addition to its online learning marketplace for individuals, the company offers solutions for corporate learning. In 2013, the company launched Udemy for Organizations for corporations to manage, develop and grow their teams. Customers include 1-800-Flowers, Oracle and Pitney Bowes.

According to a press release, the company has grown its revenue 300% over the past 12 months. More than 8,000 experts from around the world have created courses followed by more than 3 million students representing more than 190 countries online and via iPhone, iPad and Android mobile devices.

It had previously raised $12m in November 2012 (read here), $3m in October 2011 (read here) and $1 million in August 2010 (read here).

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