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Coursera raises $64 million in fourth funding round

LiveMint logoLiveMint 08-06-2017 Prashant K. Nanda

New Delhi: Online education platform Coursera, which counts India as its second-largest market after the US, has raised $64 million in a series D funding round, the company said on Thursday.

Coursera will use the funds to enhance its “enterprise business” under which it offers customized courses to companies and for “product innovation”.

With the current round of funding, the organization, which played a key role in popularizing the MOOCs (massive open online courses) phenomena world-over, has raised a total of $210.3 million till date.

Coursera said in a statement that the funding for the current round came from existing investors GSV Asset Management, New Enterprise Associates (NEA), Kleiner Perkins Caufield Byers (KPCB), Learn Capital and new investor Lampert Foundation.

“As the industry leader in online higher education, we have a massive opportunity ahead of us in preparing people, companies, and governments to respond to the changing nature of jobs and to take on the urgent challenges of workforce transformation,” said Rick Levin, chief executive officer of Coursera. “This round of funding enables us to continue innovating across our platform to deliver better learner outcomes, and to accelerate the momentum we have in our new initiatives—enterprise and degrees.”

India is the second-largest market for Coursera outside the US with more than 2 million registered users. Since launching in 2012, the company says it has 25 million registered users and offers over 2,000 courses and 180 specializations.

It counts companies like Axis Bank in India, L’Oreal, Paypal and Air France KLM among its corporate customers.

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