Founder Institute graduate, Udemy, an online learning marketplace, was featured on both TechCrunch and Forbes today, to announce that it has raised $12 million in series B financing, led by Insight Venture Partners. A leader in the online education space, the Silicon Valley based startup has been making headlines since their launch in 2010. Existing investors include Lightbank Capital, MHS Capital and Learn Capital all contributed to the round, which brings Udemy’s total funding to $16 million.
According to TechCrunch, Udemy will be using its “new injection of capital to expand the range and types of content it offers to learners, as well as fuel its upcoming push across new platforms. Alongside its new raise, Udemy is also today adding a new member to its executive team, hiring Dennis Yang as its president and COO.”
As online education continues to grow in popularity, dozens of similar platforms have emerged in the marketplace. What sets Udemy apart, however, is the idea that anyone can build and teach a course on the site, regardless of credentials. Students can sign up for free and paid classes, with topics ranging from basic HTML to yoga and photography.
The platform also recently announced that this past year, nearly a quarter of their instructors earned upwards of $10k from course sales, while some of their top-earning instructors took home nearly six-figures. To learn more about Udemy’s instructor earnings read the full story on GigaOm.
We congratulate Udemy on their success and wish them the best of luck with their expansion! Be sure to read the full coverage on Udemy's funding on TechCrunch and Forbes.
