I’m excited to share the following piece of information with you today and being one of the few distribution channels which got the news some days in advance.
This is a great day and a milestone for Udemy, the Academy of You, as they secured a $1 million USD seed round and have attracted a group of well known American investors, two seed funds and the others act as private investors.
I also see it as a good day for online education itself and a positive sign for other startups that are looking for funding.
Gagan Biyani, one of the co founders of Udemy, was so kind to sit down with me for an interview. His insights and practical advice are highly interesting for those amongst you who are interesting in the process of getting funded and how it all works as well as the gain of general knowledge on how to attract investors, the time frame and the role investors might then want to play in the company. Interesting to me was also the fact that Udemy did not get funded by people who usually invest in education quite the opposite is true. The group of investors have all an impressive record of investments into consumer Internet companies.
The Udemy team invested the last months of their work to build the community, they now have around 1000 course creators and about 2000 courses.
Although Gagan could of course not disclose details on the funding itself, he told me that they will use some of the money to grow the team with some new developers. All in all I think we will hear a lot of news from Udemy in the coming weeks and months. Being without a doubt one of the hardest working startups in online education I wish them all the best on their exciting way and to use the money sensibly which I’m pretty sure they will!
Investors in Udemy include Keith Rabois, Mark Sugarman’s MHS Capital, Rick Thompson, Russ Fradin, Benjamin Ling, Larry Braitman, Jeremy Stoppelman, Naval Ravikant, Paul Martino, Josh Stylman and Dave McClure’s 500 Startups Fund. Udemy’s fundraising was extremely successful due to help from Adeo Ressi’s Founder Institute and VentureHacks’ AngelList.
EDUKWEST #36 with Gagan Biyani of Udemy
|Gagan on Twitter:||@gaganbiyani|
|Udemy on Twitter:||@Udemy|