Udacity an online education Startup with a mission is to bring accessible, affordable, engaging, and highly effective higher education to the world, is getting more money, putting it into the ever-increasing club of unicorns.
The company has now announced, that it has raised a $105 million series D funding at a Billion plus valuation. According to them higher education is a basic human right, and they seek to empower their students to advance their education and careers.
The announcement came in the backdrop of the company’s one year celebration of its nanodegree program. The series D round of funding was led by international media, services and education company Bertelsmann. Scotland’s Baillie Gifford, Emerson Collective and Google Ventures joined in as new investors. Previously existing investors including Andreessen Horowitz, Charles River Ventures, and Drive Capital also participated in the round. Following this round, CEO of the Bertelsmann Education Group, Kay Krafft, will join Udacity’s board.
Of late, the company has been quite busy with expanding its reach into the international market like Egypt and India in the last few months. In fact, according to a report, 30 percent of its users are based outside the US.
Udacity’s president and COO Vish Makhijani says,
Our mission at Udacity is to democratize education making it affordable and accessible to billions of people around the globe to get the jobs they want to improve their lives. While we have made great strides, we have a long way to go in reaching our goal. This latest round values our company at $1 billion, making it an exciting yet humbling moment in our history.
The company has recently partnered with Google and Tata Trusts to bring these nanodegree courses into India. The nanodegree program is one of Udacity’s most appealing features. These nanodegrees are now recognized by some of Silicon Valley’s biggest companies, including Google and Salesforce and many people have been able to use these documents to get amazing jobs in international firms.