Udemy raises USD50 mn as lockdown boosts learners’ appetite to upskill

The company’s value stands at $3.25 billion pre-money. Pre-money valuation refers to the value of a  company without including external funding or the latest round of funding.

 “The funds raised from leading global edtech and growth funds, including Learn Capital will enable the company to continue to grow its consumer and business product offerings to serve the world’s learners, organisations, and instructors,” a statement said.

 Udemy CEO Gregg Coccari said, “We are perfectly positioned to meet these demands and help drive success for individuals, businesses, and governments,” he added.

 As countries enacted stay-athome advisories and national closures, course enrolments across the entire Udemy marketplace platform increased more than 425 per cent, consumption across Udemy for

 Business surged 90 per cent, and the company saw a 55 per cent increase in course creation by instructors. To date, the company has seen over 400 million course enrolments globally. In October, the company announced that Udemy for Business (with subscription access to a collection of 7,000 relevant courses) has surpassed $100 million in annual recurring revenue with customers like The Walt Disney Corporation, Apple and UNICEF.