US-based online adult learning platform operator Skillshare raised $66m in funding yesterday from a consortium including Burda Principal Investments, an investment vehicle for media group Hubert Burda.
The round was led by Omers Growth Equity, an investment subsidiary of pension fund manager Omers, and it also attracted Union Square Ventures (USV), Amasia and Spero Ventures.
Skillshare operates a subscription-based online portal with more than 30,000 video courses focused on the creative industries, with classes emphasising interactivity rather than lectures. It has more than 12 million registered members and 8,000 teachers.
The funding will enable Skillshare to create localised experiences for international users while driving continued growth in the United States and the expansion of its enterprise offering. The cash will also support the development of additional tools for teachers.
The company has now raised $108m altogether. Burda Principal Investments contributed to a $20m funding round for Skillshare in mid-2018 that was led by USV and which included Amasia and Spero Ventures.
Amasia and Omidyar Network co-led the company’s $12m series B round in 2016, with participation from USV and Spark Capital, which had co-led its $6.1m series A two years earlier.
Matt Cooper, Skillshare’s chief executive, said: “The impact of social distancing on our mental and emotional well-being is profound, and people today are in need of authentic human connection, supportive communities and creative outlets.
“At the same time, during recessions and economic downturns, companies perform better because they invest in skills that allow room for ideas and innovation. Skillshare is meeting this demand for both personal and professional growth through creativity.”
