Udacity, a Mountain View, CA-based online learning provider, raised US$105m in funding.
The round was led by international media, services and education company Bertelsmann with participation from Andreessen Horowitz, Charles River Ventures, and Drive Capital.
Udacity, which will have a post-money valuation of $1.0 billion after the transaction is completed, will use the funds to continue to invest in the expansion and internationalization of its education business.
Established by Sebastian Thrun in 2011, Udacity partners with technology companies such as Google, Facebook and Amazon.com to develop online education offers. Students can prepare for careers in the technology sector by acquiring certificates specific to their professional field (“Nanodegree” program).