Singapore-based online educational course provider Emeritus has closed a $40m series C round that included existing investor Bertelsmann India Investments, the local corporate venturing subsidiary of media conglomerate Bertelsmann.
The round was led by Sequoia Capital India, an affiliate of US-based venture capital firm Sequoia.
Founded in 2015, Emeritus sources lectures from US and European universities such as MIT, UC Berkeley, London Business School and Columbia to assemble small and private online educational courses for working professionals who are unable to enrol in full-time courses.
The funding will enable Emertius add subjects covering areas such as machine learning, blockchain and cybersecurity to its offering. It will also introduce Portuguese and Mandarin to its language courses.
The company is owned by India-based Eruditus Executive Education, which provides a mix of on-campus, off-campus and online educational courses to professionals in India, Dubai and Singapore.
Bertelsmann India Investments had provided $8.2m of series B funding for the company in late 2017, which in turn followed an undisclosed amount of series A funding from private investor Neil Bearden the year before.