Coursera Raises $43 Million In Series B
Coursera is an education startup company that has raised $43 million in Series B funding. This follows their $22 million Series A round from last year. The investors that participated in this round includes Learn Capital, GSV Capital, International Finance Corporation, Laureate Education, and Yuri Milner. Kleiner Perkins Caufield & Byers (previous investor) and New Enterprise Associates (previous investor) and two of Coursera’s educational partners University of Pennsylvania and California Institute of Technology also participated in this round.
“We created Coursera in response to real and pressing demands for quality, accessible education around the world, and today we are proud to be part of a growing movement that is making a tangible impact on this global challenge,” said Coursera co-founder Andrew Ng.
Launched in April 2012, Coursera works with 83 educational institutions across 4 continents. Coursera offers around 400 free college-level courses online. There are over 4 million students that use Coursera today. Coursera plans to double their employees and expand their capacities.
“We’ve only just begun to realize the potential for technology to transform the way professors teach, the way universities and colleges deliver knowledge, and the way people access education, and we look forward to expanding our team, our partners, and our audiences to explore the many possibilities,” added Coursera co-founder Daphne Koller.
Ever since Coursera launched last year, they have been adding new services like a careers section, verified certificates for a fee, and courses for credit. The company is still building out a proper revenue plan, but they are focused on growth.
The funding will be used for increasing their talent, releasing an API, launching mobile apps, and expanding internationally to pursue distribution partnerships.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry