Total amount raised
$462.7 Millions
Latest funding date
Location
Degreed has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform focuses on upskilling individuals and organizations through personalized learning experiences and skill assessments.
Keep reading to explore the intricacies of Degreed's fundraising journey and the investors backing this innovative platform.
What Is Degreed?
Degreed, founded in 2012 by David Blake, David Wiley, and Eric Sharp, is headquartered in Pleasanton, California. The company specializes in providing an AI-powered learning and upskilling platform designed to help individuals and organizations identify skill gaps and offer personalized learning experiences.
With a workforce of 501-1000 employees, Degreed integrates and curates resources such as courses, videos, articles, and podcasts to create comprehensive learning paths. The platform aims to promote career mobility by connecting users to projects, gigs, and job opportunities.
Degreed's mission is to prepare the workforce for rapid changes by leveraging AI to measure and close skill gaps, ultimately driving business results. The platform's features include Skills+, Degreed Learning, and Degreed Academies, which are tailored to meet the specific needs of businesses and individuals alike.
How Much Funding Has Degreed Raised?
- Venture Round
- Amount Raised: $50.9M
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and platform enhancements.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and expanding market reach.
- Series D
- Amount Raised: $153M
- Date: April 2021
- Lead Investors: Riverwood Capital, Sapphire Ventures
- Valuation at Round: $1.4 billion
- Motivation Behind the Round: Accelerate product development, enhance data infrastructure, fuel global expansion, and pursue strategic acquisitions.
- Debt Financing
- Amount Raised: $30M
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and operational growth.
- Series C
- Amount Raised: $47.6M
- Date: June 2020
- Lead Investors: Owl Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand platform capabilities and market presence.
- Series C
- Amount Raised: $35M
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and scale operations.
- Debt Financing
- Amount Raised: $40M
- Date: June 2019
- Lead Investors: AllianceBernstein
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To ensure financial flexibility and support growth initiatives.
- Series C
- Amount Raised: $42M
- Date: March 2018
- Lead Investors: Jump Capital, Owl Ventures, Signal Peak Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive product innovation and expand market reach.
- Series B
- Amount Raised: $25M
- Date: August 2016
- Lead Investors: GSV Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance user experience.
- Series B
- Amount Raised: $21M
- Date: January 2016
- Lead Investors: Jump Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and grow the user base.
Degreed has raised a total of $597.5M in funding. The most recent valuation is $1.4 billion.
Key Investors
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that invests in high-growth technology companies. They offer operational, strategic, technology, and financial insight to their portfolio companies.
- Investment Focus Areas: High-growth technology, technology-enabled industries.
- Notable Investments: GoPro, Globant.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that partners with visionary teams and venture funds to build companies of consequence. They manage more than $5.7 billion in assets and have offices in Austin, London, Palo Alto, and San Francisco.
- Investment Focus Areas: Innovative startups, technology-focused venture funds.
- Notable Investments: LinkedIn, Box, Square.
- Owl Ventures
- Details: Owl Ventures is a venture capital firm that specializes in education technology investments. They focus on companies that are driving innovation in the education sector.
- Investment Focus Areas: Education technology.
- Notable Investments: MasterClass, Quizlet.
- AllianceBernstein
- Details: AllianceBernstein is a global investment management firm that provides diversified investment management services. They manage a broad range of investment strategies across various sectors.
- Investment Focus Areas: Broad investment management across various sectors.
- Notable Investments: Not publicly disclosed.
- GSV Ventures
- Details: GSV Ventures is a venture capital firm that invests in education and workforce technology companies. They aim to support companies that are transforming the education and workforce sectors.
- Investment Focus Areas: Education technology, workforce technology.
- Notable Investments: Coursera, ClassDojo.
What's Next for Degreed?
Degreed stands at the cusp of significant opportunities, driven by a $153 million Series D funding round. The company is poised to accelerate product development, enhance data infrastructure, and fuel global expansion. With a valuation of $1.4 billion, the potential for growth is immense, particularly in the post-COVID-19 era where upskilling and reskilling have become critical for workforce transformation.
Future fundraising opportunities seem promising as Degreed continues to scale its operations and explore strategic acquisitions. The focus on enhancing technology and integrations suggests that additional funding rounds could be on the horizon to support these initiatives. However, challenges such as managing rapid growth, integrating new acquisitions, and maintaining a competitive edge in a dynamic industry will require careful navigation.
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