Online learning firm Udacity said that it achieved 25% year-over-year revenue growth in 2018 with company witnessing 100% growth in enterprise segment with total revenues expanding to approximately $90 million.
According to company executives, Udacity now has 10 million registered students across all of its programs, up from 8 million at the end of 2017. Last year, the online learning firm invested in enterprise offerings, content creation initiatives, expanded career services, exceeded 200 industry partners globally and added 20 new enterprise clients to a list of over 50 worldwide.
“In 2018, we saw tremendous demand from Fortune 500 companies who are working with us to re-skill and level-up their existing workforces. Udacity has the learning programs in artificial intelligence, machine learning and data science to transform workforces at scale,” said Sebastian Thrun, co-founder, president and executive chairman at Udacity.
In February 2019, Lalit Singh joined the company as Interim COO reporting to executive chairman Thrun. Singh comes to Udacity with over a decade of operational experience including senior operational roles at Hewlett-Packard and GE. Singh has extensive experience running and scaling complex operations and driving growth initiatives in consumer and enterprise businesses, said the company.
Udacity said it connects learning to jobs through online, project-based education developed with and for industry. In late 2014, Udacity launched its Nanodegree programs, starting with mobile and web development curriculum in collaboration with AT&T and Google. Four years later, Udacity had 33 Nanodegree programs and an alumni network of more than 65,000 Nanodegree program graduates as of December 31, 2018, said the company.
In 2018, the company launched ten new Nanodegree programs: AI Programming With Python, Artificial Intelligence for Trading, Blockchain Developer, Computer Vision, Data Scientist, Deep Reinforcement Learning, Flying Car, Google Analytics, Natural Language Processing, and Programming for Data Science.
Last year, the company also launched 12 free career courses, built in collaboration with Google, with nearly 100,000 enrollments. It added more than 50 new partnerships, including IBM, Facebook, Unity and Infosys for a total of more than 200 industry partners.
In previous year, Udacity said it funded over 1.1 million new partial and full scholarships to its programs for students across North America, Europe, the Middle East and Asia.
In 2019, Udacity plans to increase number of launches of new Nanodegree programs and skills-centric learning content. The five launches are planned in Q1 of 2019 alone, said the company.
