Former MOOC turned tech education platform Udacity raised a $105 million Series D, valuing the company at $1 billion. German media, services and education company Bertelsmann increased its stake significantly, making it one of the largest shareholders in Udacity.
Udacity partners with tech firms like Google, Facebook and Amazon to develop so called Nanodegrees that train employees specific tech skills needed for different jobs in the technology sector.
In September Bertelsmann combined its education activities into a separate business unit, Bertelsmann Education Group. Earlier this month Bertelsmann invested $230 million in HotChalk.
Udacity officially launched in India, partnering with Google and Tata Trusts. According to the company, India is the second biggest market for its career focused online courses and so called Nanodegrees.
Accredible, an edtech startup that tracks learning behaviour and performance, announced a partnership with Udacity to power its new professional profiles and nanodegrees.
Former MOOC platform Udacity raised a $35 million Series C to double down on its new path of creating the nanodegree and aiming to address the skills gap ranging from computer science to finance.
The round was led by Drive Capital, with participation from Bertelsmann, Recruit Holdings and Valor Capital. Existing investors Andreessen Horowitz and Charles River Ventures also participated in the new funding round.
Constant distraction is the bane of the digital age. Most of us are now connected 24/7, the Internet is just a click away for the good and for the worse. Especially education, or better the way we acquire and retain information, is shaped by mobile devices that can come up with answers and relevant information when and where we need it.
Another factor is the fast pace of the technology space in general. Not only does it incessantly throw new gadgets and matching applications at consumers, but it also demands workers with skills in the latest programming language, social media product or design software.
This environment seems to call for education solutions that drastically cut down the time spent to learn a skill in order to make sure that employers can access a pool of employees with the latest set of skills needed.