Coursera secures $103 mn funding from SEEK Group, others

Online education platform Coursera Thursday said it has raised USD 103 million (about Rs 723.7 crore) in a funding round led by SEEK Group.

The series E round also saw participation from existing investors, Future Fund and NEA, a statement said.

"The Fourth Industrial Revolution, marked by advancements in automation and artificial intelligence, is dramatically reshaping our lives, businesses, and jobs. Coursera is at the forefront of preparing individuals, companies, and governments to meet that challenge head-on and turn this disruption into opportunity," Coursera CEO Jeff Maggioncalda said.

He added that the additional funding will give the company the resources and flexibility to further expand internationally and to accelerate development of its learning platform that currently serves 40 million learners, 1,800 businesses, and over 150 top universities.

Coursera has been aggressively ramping up its presence in the Indian market. In November last year, it had partnered Mindtree to upskill the Indian IT firm's workforce in relevant and high-end technology skills like machine learning, Python and data science.

"This investment reflects our commitment to online education, which is enabling the up-skilling and re-skilling of people and is aligned to our purpose of helping people live fulfilling working lives. We are pleased to come on board to partner with them in their next phase of growth," SEEK co-founder and CEO Andrew Bassat said.

Since the completion of its series D funding in June 2017, Coursera's learner base has grown from 26 million to 40 million. It offers 3,200 courses and 310 specialisations to enable learners acquire new skills and also build a pathway towards a full degree.