US-based online coding education provider Codecademy has received $40m in a series D round featuring Prosus, the internet and e-commerce group majority-owned by media conglomerate Naspers.
The round was led by Owl Ventures and included fellow venture capital firm Union Square Ventures (USV), increasing the company’s funding to $82.5m since it was founded in 2011.
Codecademy provides an online education platform enabling users to learn computer coding languages such as Java, HTML and Python. It claims to have helped more than 50 million people across some 190 countries to learn coding through its platform.
The company will use the financing to develop new products and grow its presence in international markets including India.
Prosus Ventures, the investment arm of Prosus that evolved from Naspers subsidiary Naspers Ventures, led a $30m series C round for Codecademy in 2016, investing alongside USV, Flybridge Capital Partners, Index Ventures and Richard Branson.
Codecademy had previously pulled in $10m of funding from Kleiner Perkins, Index Ventures, USV, Yuri Milner and Richard Branson in 2012.
In 2011, the company picked up $2.5m in a USV-led series A round also backed by media group O’Reilly’s investment arm, O’Reilly AlphaTech, as well as Tuesday Capital (then CrunchFund), SV Angel, Social Capital, Thrive Capital, Collaborative Fund and Founder Collective.
The series A round also drew funding from angel investors Yuri Milner, Joshua Schacter, Vivi Nevo, Naval Ravikant and Sam Altman, and Initialized Capital lists Codecademy as a portfolio company on its website.