Dive Brief:
- Coursera, an e-learning company in Mountain Valley, CA that offers a wide variety of courses, has announced that it has raised $64 million of series D funding, which will go towards the expansion of its Coursera for Business effort. The company plans to include more online business learning and accredited master’s degree programs.
- Since its launch in 2012, Coursera has partnered with leading colleges and universities to provide valuable online courses to over 26 million students worldwide.
- Rick Levin, Coursera's CEO said in a press release that the additional funding will enable the company to deliver better outcomes to learners based on greater innovation and the plan to accelerate online degrees. Online learning is expected to reach $31 billion in revenues by 2020.
Dive Insight:
The introduction of massive open online courses (MOOCs) created the foundation for Coursera, Udemy, Lynda.com, and other e-learning platforms to monetize content. Coursera, for example, has not only partnered with colleges, universities, and industry experts, but also offered adults the chance to earn college degrees that can elevate their careers.
Many companies do not have the resources to provide in-depth training programs, and rely on all-in-one programs that offer a wide swath of programs. But even those that can afford more expansive programs are looking for accessible, bite-sized content that employees will actually engage with — hence the sudden explosion of learning technology within the past decade.
Some employers are recognizing the power learning programs hold over retention. Even hourly employers are beginning to turn to education programs in a bid to keep employees around for longer. Chipotle, for example, teamed up with Guild Education to provide a series of degree and certification programs for their employees. Such programs give employees a chance to build their skills and could provide a potential pipeline for future leadership if implemented well.
