- Degreed is a lifelong learning platform that connects resources people use for learning that recently raised $75 million
Degreed is a lifelong learning platform founded by CEO Chris McCarthy, CTO Eric Sharp, and executive chairman David Blake. Recently, Degreed announced it raised $35 million in equity funding from existing investors Owl Ventures, Jump Capital, Signal Peak Ventures and GSV Accelerate. And new investor AllianceBernstein Growth Stage Capital also joined. Plus Degreed also closed a $40 million venture debt facility with AllianceBernstein.
Degreed offers a smarter way to learn and measure the skills needed for the future. And Degreed connects all the resources people use for learning and growing, including corporate learning systems and millions of courses, videos, books, articles, podcasts, and subject experts from thousands of sources. From there, Degreed adds data science and machine learning to provide people and businesses with the tools, analytics, and feedback they need next.
With this round of funding, Degreed is going to continue to focus on creating an exceptional user experience while accelerating international expansion and enhancing their skills measurement and insights functionality. And Degreed will significantly strengthen integration, data science, and client enablement capabilities.
“The investment signals continued momentum for Degreed. We have achieved record growth over the last 18 months and the market is only accelerating globally. Today, 20% of our revenue comes from outside the United States,” said McCarthy in a statement. “This additional capital will allow us to further execute on the roadmap and commitments we laid out at the beginning of the year. We are doubling down on our skills product and the data science and machine learning capabilities to support it. We will continue to invest heavily in our industry leading client enablement teams.”
In the past year, Degreed grew its revenues by more than 100% and doubled the size of its sales and client experience teams. Plus Degreed also successfully merged and integrated its largest competitor Pathgather and added nearly 100 new clients to its 220 organization client list. This includes innovators like Imperial Brands, Ericsson, Boeing, Unilever, TELUS International, and Cognizant.
“Degreed has executed exceptionally well,” added Owl Ventures co-founder and managing director Tory Patterson. “They’ve partnered with the best companies in the world to deliver a platform that is both consumer-grade and enterprise-class. Their relationship with the end user is unique in the market and it positions them to own the way learning and skills are measured across the enterprise.”
