Total amount raised
$136.8 Millions
Latest funding date
11/1/2020
Location
Skillshare has successfully raised significant funding over multiple rounds, attracting a diverse group of investors including NewSpring and Adobe.
Continue reading to delve into the details of Skillshare's funding journey and the strategic investors supporting this dynamic platform.
What Is Skillshare?
Skillshare, founded in 2010 by Malcolm Ong, is an ed-tech platform based in New York, New York.
The company offers an online learning community with thousands of classes in creative fields such as illustration, design, and photography.
With a team of 51-100 employees, Skillshare continues to empower individuals to learn and grow their creative skills.
How Much Funding Has Skillshare Raised?
- Series A
- Amount Raised: $3.1M
- Date: August 2011
- Lead Investors: Spark Capital, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform and attract more users.
- Venture Round
- Amount Raised: $1M
- Date: January 2013
- Lead Investors: VTF Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and user experience.
- Venture Round
- Amount Raised: $6.1M
- Date: February 2014
- Lead Investors: Spark Capital, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series B
- Amount Raised: $12M
- Date: May 2016
- Lead Investors: Amasia, Omidyar Network
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand course offerings and improve technology infrastructure.
- Debt Financing
- Amount Raised: $8M
- Date: July 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and growth initiatives.
- Series C
- Amount Raised: $20M
- Date: July 2018
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the user base.
- Debt Financing
- Amount Raised: $20M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund new projects and initiatives.
- Series D
- Amount Raised: $66M
- Date: August 2020
- Lead Investors: OMERS Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand international reach and enhance platform capabilities.
- Series D
- Amount Raised: Not publicly disclosed
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support growth and development.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and expand offerings.
Total Amount Raised: $136.2M. Current Valuation: Not publicly disclosed.
Key Investors
- Adobe
- Details: Adobe is a global leader in creative software, known for its suite of products like Photoshop and Illustrator. The company has a strong focus on digital media and marketing solutions.
- Investment Focus Areas: Creative software, digital media, marketing solutions.
- Notable Investments: Photoshop, Illustrator, Adobe Creative Cloud.
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm based in New York City. They invest in internet services, mobile, and web-based applications.
- Investment Focus Areas: Internet services, mobile, web-based applications.
- Notable Investments: Twitter, Etsy, Tumblr.
- OMERS Growth Equity
- Details: OMERS Growth Equity is a growth equity investment firm that focuses on high-growth companies. They are part of OMERS, one of Canada's largest pension plans.
- Investment Focus Areas: Growth-stage companies, various sectors.
- Notable Investments: Shopify, PointClickCare.
- Amasia
- Details: Amasia is a venture capital firm that invests in technology and sustainability. They aim to support companies that have a positive impact on the world.
- Investment Focus Areas: Technology, sustainability.
- Notable Investments: Tokopedia, Xendit.
- Burda Principal Investments
- Details: Burda Principal Investments is the investment arm of Hubert Burda Media, a leading European media company. They focus on digital and technology companies.
- Investment Focus Areas: Digital, technology companies.
- Notable Investments: Vinted, Notonthehighstreet.
What's Next for Skillshare?
Skillshare is poised to capitalize on the burgeoning online learning market, which is projected to reach $375 billion by 2026. With a growing community of 12 million members, the platform aims to expand its global reach by creating more localized experiences for international students and supporting teachers with new tools and opportunities.
Future fundraising opportunities seem promising, especially given the significant growth potential in the online learning industry. The partnership with Adobe and other strategic investors could pave the way for additional rounds of funding to further enhance Skillshare's offerings and market reach.
However, Skillshare may face challenges such as competition from other online learning platforms and the need to maintain the quality and relevance of its courses. Adapting to rapidly changing technology and user preferences will also be crucial as the platform scales.
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