Degreed, a learning platform for individuals and enterprises to manage continuing education and employee training, announced today that it has closed $25 million in Series B funding. Investors include GSV Acceleration, Jump Capital, Signal Peak, Rethink Education, Deborah Quazzo and other individual investors.
Launched in January, 2013, Degreed allows users to undertake and track a variety of lifelong learning activities, from reading in-depth investigative features in the New York Times to attending online courses on Lynda.com and taking coding classes at Udemy. The platform is currently free for individuals. Degreed’s enterprise solutions help HR personnel manage staff training programs by offering employees the option to sign up for courses they are interested in from Degreed’s various learning providers. HR managers can then monitor individual employees’ learning progress and identify those who have acquired new skills.
According to the company’s official funding announcement, Degreed signed on more than one million new users in Q2 2016 from a range of Fortune 1,000 and mid-market companies. The edtech platform also recently launched a mobile app that allows users not only to manage their learning but also to share their activities and learning milestones.
Deborah Quazzo, founder and managing partner of GSV Acceleration and one of Degreed’s early investors, believes the edtech company is filling a market need for new ways to advance learning. A venture capital firm that focuses on investment in the learning and talent development space, GSV has previously invested in other edtech companies, including ClassDojo, HotChalk, and Turnitin.