- Online learning company Coursera has raised $130 million in Series F funding led by NEA at a reported valuation of $2.5 billion
Online learning company Coursera has raised $130 million in Series F funding led by NEA. With this round of funding, the company is now valued at $2.5 billion according to Forbes. Previous investors Kleiner Perkins, SEEK Group, Learn Capital, SuRo Capital Corp, and G Squared also joined the round.
This is up nearly $1 billion since the company was valued at about $1.66 billion as part of its funding round closed in April 2019. Including this round of funding, Coursera has raised about $464 million.
With this round of funding, Coursera will be expanding internationally and hire more employees.
Coursera CEO Jeff Maggioncalda told Forbes that the pandemic has driven the growth of the virtual learning platform. Enrollments on Coursera quintupled year over year.
After the pandemic started, Maggioncalda said that the company wanted to help students who had to learn virtually. So in June, the company launched the Coursera Campus Response Initiative. The Coursera Campus Response Initiative provides courses free to students who are enrolled in universities and over 1 million students signed up for the program.
Starting this fall, Coursera is going to charge about $250 and $400 per student subscription. And a number of schools are taking advantage of the program to offer online classes.
Coursera also runs an enterprise operation arm. That division of the company offers educational courses to more than 2,500 companies. And that operation grew 70% year-over-year.
Coursera was originally founded in Mountain View, California in 2012 by Stanford computer science professors Daphne Koller and Andrew Ng. Koller is now running a company called Insitro and Ng is running a company called Landing AI.
