Udemy, a San Francisco, CA-based online education marketplace, has completed a $12m Series B financing.
The round, which brings total funding to $16m, was led by Insight Venture Partners, with participation from existing investors Lightbank, MHS Capital and Learn Capital.
The company intends to use the capital to expand its offerings as well as extend the catalog across new platforms continuing to bring on content from leading authors, CEOs, celebrities, publishers, faculty and universities.
Launched in early 2010 by CEO Eren Bali, Udemy currently offers over 5,000 courses – with over 400 courses added in October 2012 – covering a wide range of subjects, including professional, business, technical, academic, creative and lifestyle. Courses are delivered on demand and are based on videos, slide presentations, PDFs, documents, articles, links, photos and live conferences with students.
In addition, the company hired Dennis Yang as president and COO. He will lead Udemy’s business and operations-related activities. He previously served as executive advisor to a number of start-ups and held leadership roles with 4INFO and Good Technology.
The company, which previously raised $3m in October 2011 (read here) and $1m in August 2010 (read here), recently announced a strategic partnership with The Jack Welch Management Institute at Strayer University to offer online leadership development solutions, and last month launched an iPad app.
FinSMEs
08/12/2012