Online learning platform Coursera has raised $103 million in a Series E equity round. SEEK Group led the round while existing investors Future Fund and NEA also participated in the funding, said the company in a statement.
The new funds will be used for expansion in the international market and catalysed Coursera efforts to offer diverse learning options in emerging technologies and industry 4.0. The company is expected to enhance courses focused on artificial intelligence, machine learning, virtual reality, Internet of Things (IoT) and smart manufacturing.
“The additional funding gives us the resources and flexibility to further expand internationally and to accelerate the development of a learning platform that currently serves 40 million learners, 1,800 businesses, and over 150 top universities,” said Jeff Maggioncalda, Coursera’s CEO.
Since raising a Series D in June 2017, Coursera’s learner base has grown from 26 million to 40 million. The 3,200 courses and 310 specializations available on the platform are increasingly stackable, enabling learners to acquire new skills and earn valuable credentials while also building a pathway towards a full degree. The portfolio of degrees on Coursera has also grown to 14 world-class degrees from the top universities in high-demand areas of business administration, data science, computer science, and public health.
“This investment reflects our commitment to online education, which is enabling the up-skilling and re-skilling of people and is aligned to our purpose of helping people live fulfilling working lives. We have been watching Coursera for many years; they have a great team of people doing terrific work. We are pleased to come on board to partner with them in their next phase of growth,” said SEEK Co-Founder and CEO Andrew Bassat.
In January of this year, the company — along with its partners like Columbia University, Johns Hopkins and the University of Michigan — announced the launch of a health content vertical to address the acute shortage of skilled workers in the industry. And Coursera’s enterprise offering, Coursera for Business, continues to grow rapidly around the world with more than 1,800 customers including its largest enterprise partnership to date with the Abu Dhabi School of Government to upskill 60,000 government employees.