Udemy, a San Francisco, CA-based global marketplace for learning and teaching online, received a $60m strategic investment from Naspers.
Global internet and entertainment company Naspers (Johannesburg Stock Exchange: NPN.SJ and London Stock Exchange: NPSN) made the investment – a follow-on to a $65m Series D round of financing from June of 2015 – through its Naspers Ventures division. In conjunction with the funding, Larry Illg, CEO of Naspers Ventures, is joining Udemy’s Board of Directors.
The company intends to use the funds to continue its international growth including expanding its localized course content library and product offerings.
Founded in 2010 and currently led by Dennis Yang, CEO, Udemy is a global marketplace for learning and teaching online where more than 11 million students learn from an extensive library of 40,000 courses taught by expert instructors in 80 different languages. For companies, the company offfers eUdemy for Business, which provides subscription access to a collection of business-relevant courses as well as a platform to host and distribute content in one central place.
With the investment, Naspers Ventures joined existing backers Stripes Group, Norwest Venture Partners, Insight Venture Partners, and Lightbank.