Udemy, one of the most popular online platforms for education, has raised $60 Million from Naspers Ltd’s investment arm. The raised funding will be used to strengthen the tech along with getting more educators on board to expand in more regions internationally.
For the people unfamiliar with Naspers, it is a tech and media firm based out of Johannesburg. It manages online classified businesses in emerging markets including a solid presence in India.
Speaking on the development, Dennis Yang, CEO Udemy said that the startup wasn’t really looking to raise funds as a huge portion of $65 Million, which was raised in Series D round last year, is lying in bank. However, Udemy was looking to partner with Naspers for international expansion and the deal happened as a result of the financial discussion which followed.
Udemy has been a popular online source of user generated content. It currently has over 40,000 user generated collections in 80 languages. Also, the courses are lifelong available to the learners.
According to a recent announcement, Udemy now has over 11 million students and 20,000 instructors from all parts of the world. The total number of courses enrolled on Udemy has reached 50 million and the user base is distributed across 190 countries.
Yang further added that the raised funds will be used to hire more manpower along with developing the product and increasing the user base along with the number of instructors. Also, the partnership with Naspers will help it to get more channel partners in the emerging countries.