Coursera Secures Additional Funding
Coursera, a major MOOC developer, announced via MarketWired on November 22 that it secured additional $20M in funding, thus raising the total raised so far in Series B to $63M. The press release noted the said investment also includes funding from three unnamed universities that already offer Coursera courses, in addition to existing investors with focus in education, GSV Capital and Learn Capital.
The objective of this funding will be to partner with universities in creating and offering “compelling content to students, as well as developing its internal capacity.” Coursera’s press release further states that the funding will further such efforts as “ongoing technological developments, strategic partnerships and the build-out of Coursera’s product and recruiting teams, including the recent hiring of tech industry leaders John Ciancutti and Tom Willerer to develop Coursera’s global offerings and enhance the user experience.”
This certainly impressive development in Coursera’s business history can be compared with Udacity’s new initiative, in which Udacity will partner with companies to develop and deliver courses targeted at the skills the employees need to develop – for a fee.
For more details on Coursera’s funding spree, read the MarketWired article in full: http://www.marketwired.com/press-release/coursera-secures-20-million-additional-funding-from-university-partners-current-investors-1855741.htm
And to read up on Udacity’s new business model, go to https://www.edsurge.com/n/2013-11-14-udacity-s-u-turn
Yevgeny Ioffe, or as people call him, Yev, has been working in both the startup world and established companies. His career spans from joining Xplana Learning as it launched to Cengage Learning to MBS Direct when it acquired Xplana in 2009. Yevgeny brings to EdTech Times his passion for start-ups and technology, along with his interest in the ever evolving world of edtech. Yevgeny obtained his BSc and MA from Brandeis University and MBA from Boston College.