US-based education benefits software provider Guild Education received $157m in a series D round yesterday that included the respective corporate venturing units of enterprise software producers Salesforce and Workday.
Salesforce Ventures and Workday Ventures participated in the round alongside lead investor General Catalyst.
Emerson Collective, Iconiq Capital, Lead Edge Capital, Next Play Capital, Felicis Ventures, Bessemer Venture Partners (BVP), Redpoint Ventures, Harrison Metal and Silicon Valley Bank completed the investor line-up. The round valued Guild Education at $1bn.
Guild Education runs an online education platform that offers courses from non-profit universities and adult education providers to employees who wish to reskill or upskill. The company estimates that 64 million American adults have yet to receive university degrees.
Clients include large-scale employers such as retailer Walmart, mass media group Disney and Mexican fast food chain Chipotle. It operates as a B Corporation, a type of company that is legally required to balance social and environmental impact with profit.
The series D equity will enable Guild Education to expand its roster of employer and university partnerships, explore acquisition opportunities and hire additional staff.
Ken Chenault, chairman and managing director of General Catalyst, has joined Guild’s board of directors. Chenault is a former chief executive and chairman of payment processing firm American Express.
Guild Education has raised more than $228m in funding to date. It previously obtained an undisclosed sum from professional baseball player Stephen Curry last month.
Salesforce Ventures and Workday Ventures participated in a $40m series C round in July 2018 that also included Felicis Ventures, Silicon Valley Bank, Rethink Impact & Education, Redpoint Ventures, Harrison Metal, Cowboy Ventures and BVP.
