Coursera, an online education company has reportedly announced on 25th of April that it has raised $103 million as funding. The fund was raised in Series E equity funding with a goal of expanding the international reach of the company in segments degree offering, coursework as well as workforce training program.
The fundraising has also brought forward the SEEK Group as a new investor. SEEK Group is an education and job search firm which also looks after workforce matchmaking. The affiliated businesses of the firm operate in eighteen different countries such as New Zealand, Australia, Brazil, Mexico, and China. Previously the investors of Coursera were NEA and Future Fund, and even they took an active part in the round.
According to the report of TechCrunch, the investors from Mountain View, the company based in CA have also agreed for a valuation of over $1 billion. During the previous funding which took place in the year 2017, in June Coursera raised more than $64 million.
Jeff Maggioncalda, the CEO of Coursera said that the new capital would help the company in expanding its global role for preparing workers and companies for Industry 4.0 or Fourth Industrial Revolution. Industrial 4.0 is driven by the Internet of Things, Artificial Intelligence and automation.
According to Maggioncalda, the future of learning converge with the work, and this creates enormous opportunities for the company to make the best education in the world available to millions of people living in it. The company wants to change the way people learn things. Coursera said that the learning marketplace of the company offers coursework to over 150 universities while serving 40 million students. At the same time, Coursera has been addressing the workforce needs of more than 1,800 companies around the world.
Andrew Ng and Daphne Koller, Computer science professors of Stanford, had founded Coursera in the year 2012.
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