SOURCE: Coursera

Coursera

August 25, 2015 07:00 ET

Coursera Secures $49.5M in Series C Funding to Expand Access to Job-Relevant Learning Opportunities From the World's Best Universities

First Close of Series C Led by NEA, Includes Investment From Times Internet to Grow Indian Market

MOUNTAIN VIEW, CA--(Marketwired - Aug 25, 2015) - Coursera, the largest platform for open access, high quality online education, announced today that it has raised a total of $49.5 million in a first closing of its Series C financing. The company expects a second closing early in the fall that will bring its total Series C funding to $60 million. Coursera will use the funds to source new content, expand its global reach, and continue to improve the learning experience for people of all backgrounds.

The Series C financing is led by New Enterprise Associates (NEA), one of Coursera's original investors. Scott Sandell, Managing General Partner, NEA and member of Coursera's Board of Directors said, "Coursera has made tremendous progress over the last year and is meeting a major, global market need with its multi-course Specializations in key workforce sectors. We are excited to support the growth of this high-impact enterprise, which is transforming lives through access to the world's best educational institutions."

Among the firms joining NEA are original investor Kleiner Perkins Caufield & Byers (KPCB) and previous investor International Finance Corporation (IFC), as well as a new investor, Times Internet (TIL), a subsidiary of Bennett, Coleman and Company Limited (BCCL) that also holds the Times of India and related media properties. Other existing investors participating in the second close include GSV Asset Management and Learn Capital.

International growth is a focus for Coursera as the company works to address outsized demand for high quality, accessible learning in key markets including Latin America, China, and India. Three-quarters of Coursera's learners are outside the United States, and emerging economies are its fastest growing markets. The investment by Times Internet is a component of a major new strategic partnership, also announced today. Times Internet will provide marketing, advertising, and strategic support to build awareness of Coursera in India.

Satyan Gajwani, CEO, Times Internet, said, "Coursera is the gold standard for the emerging wave of education technology companies. We are excited to bring Times Internet's growth capabilities behind such a strong product, and bring high quality, affordable digital education to millions of Indians."

Founded in 2012, Coursera now offers 1,100 courses to nearly 15 million learners across the globe, more than half of whom seek skills to advance their careers and livelihoods. Coursera recently launched the Global Skills Initiative to bring companies and universities together to create Specializations, series of courses that teach skills in job-relevant fields. Coursera will more than double its Specialization offerings this fall by launching dozens more from top universities in the fields of business, technology, and data science.

"We want Coursera to be the place people go to learn, for their careers and throughout their lives," said Rick Levin, CEO of Coursera. "To accomplish this, we are determined to develop the best and most accessible learning experience anywhere. The continuing support from NEA and KPCB, as well as new strategic guidance from Times Internet abroad, will allow us to accelerate the improvement of our platform and product in order to serve millions more."

About Coursera
Take online classes and Specializations from 120+ top universities and educational organizations. Coursera partners with schools like Yale University, Johns Hopkins University, University of Edinburgh, Peking University, and others to offer courses in dozens of topics, from computer science to psychology and beyond. Whether you are pursuing a passion or looking to advance your career, Coursera provides open online education for everyone.

For more information, visit www.coursera.org.

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