Tracxn - Continued Learning Startup Landscape

JANUARY 2019
CONTINUED LEARNING

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Continued Learning - Jan 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on January 10, 2019.
Continued Learning Feed Summary
4
Continued Learning > Feed Summary
Companies which provide self-paced and instructor led courses and learning resources for professional learning, skill
development and casual learning.
• Inclusions: - Technology companies which provide
continued learning through pre-recorded online lessons,
live tutoring, games, interactive exercises. The Courses can
be either self-created or aggregated.- Also includes
companies which provide collaborative peer-to-peer
learning platforms via audio, chat, video and discussion
forums.
• Exclusions: - Companies which provide continued
learning through offline tutoring and training centres. -
Also excluded are companies providing eLearning courses
exclusively to enterprises for employee training.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$3.6B
Funding
15
Mega
Companies
6953958
FundedCovered on
Tracxn
3
Unicorns
10
Soonicorns
20
Minicorns
6
IPO’d Cos
162
Late Stage Cos
41
117
Acquisitions
661
DeadPooled
6
Acquihired
Series A+ Cos
Udacity
(2011, Mountain View, $160M)
Simplilearn
(2009, Bangalore, $33.9M)
Pluralsight
(2004, Cedar Valley, $239M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Continued Learning
5
$80M - Series D
MasterClass(2015, San Francisco, $136M)
$35M - Series C
MasterClass (2015, San Francisco, $136M)
$64M - Series D
Coursera (2012, Mountain View, $210M)
$35M - Series E
Tastemade (2012, Santa Monica, $115M)
$60M - Series B
OpenClassrooms (2007, Paris, $69.7M)
$31.1M - Series B
Digital Marketing Institute (2008, Dublin,
$31.1M)
$47M - Series B
Aceable (2013, Austin, $55.7M)
$30M - Series A
Everipedia (2014, Los Angeles, $30.6M)
$40M - Series C
Guild Education (2015, Palo Alto, $71.5M)
$25M - Series C
CreativeLive (2010, Seattle, $54.5M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Continued Learning > Feed Summary > Investment Trend Summary
Seed Learn Capital (#3), Rethink (#3), Andreessen Horowitz (#2)
Series A/B Harrison Metal (#2), Partech (#2), Arthur Ventures (#2)
Series C+ Goldman Sachs Investment Partners (#2), IVP (#2), Naspers (#2)
Incubators 500 Startups (#24), Techstars (#13), Y Combinator (#12)
Other Notable
Investors
Wayra (#6), Kima Ventures (#5), Google (#3)
Debt Investors
Western Technology Investment (#4), InnoVen Capital (#2),
Silicon Valley Bank (#2)
Most Active InvestorsRecent Investments
499
709
452
174
21
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 107 119 94 64 57 1
$2.8B
$415M
$98M
$41.5M
$31.9M
US
Europe
India
Israel
Latam
$ Funding
$3M
$659M $659M
$295M $310M
$478M
$3M
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Continued Learning
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Rethink 2
Pluralsight (2004, Cedar Valley, $239M)
General Assembly (2011, New York City, $173M)
Andreessen
Horowitz
1 Udacity (2011, Mountain View, $160M)
Access Venture
Partners
1 Craftsy (2010, Denver, $106M)
Alexis Ohanian 1 General Assembly (2011, New York City, $173M)
Bezos Expeditions 1 General Assembly (2011, New York City, $173M)
Apr 2018 General Assembly Acq by Adecco Group for $413M
May 2017 Craftsy Acq by NBCUniversal for $230M
Apr 2017 Ascend Learning Acq by Blackstone for $2B
Aug 2015
Learners Digest International Acq by Wolters
Kluwer for $150M
Apr 2015 Lynda Acq by LinkedIn for $1.5B
Jul 2010 Integrity Interactive Acq by SAI Global for $170M
Continued Learning > Feed Summary > Exit Outlook Summary
Wolters Kluwer 3
Learners Digest International (Aug 2015, $150M),
Firecracker (Mar 2018), CPE Link (Jun 2016)
Pluralsight 3
Digital tutors (Apr 2014, $45M), Code School (Jan 2015, $36M),
HackHands (Jul 2015)
Verdane Capital 2 CareerFoundry (Apr 2018), Lingit (Apr 2017)
Kaplan 2 PPI (May 2018), CleanEdison (Nov 2015)
SAI Global 2 Integrity Interactive (Jul 2010, $170M), Midi (Jan 2007, $45M)
Recent IPOs Top Acquisitions
BetterU
Marketplace for discovering and enrolling…
IPO MCap: -
Chromos
Online training for medical and aesthetic…
IPO MCap: -
Pluralsight May 2018
Online programming and creative learning…
IPO MCap: $2B
M2i Formation Sep 2017
Online and offline training programs on s…
IPO MCap: $12.5M
Tokyo Financial Planners Jul 2013
Online courses for financial planning cer…
IPO MCap: -
ED Corporation Aug 1997
Develops robots for learning programming
IPO MCap: -

January 2019Tracxn BlueBox – Continued Learning
3955+ companies in the sector, 319 funded in last 5 years, $791M invested in last 2 Years
Most Active Investors: 500 Startups, Learn Capital, Harrison Metal, Goldman Sachs Investment Partners,
Wayra
Professional $2.7B Skill Development Casual$582M $280M
Tutoring
Savvy (2014, San Francisco, $1.7M)
Multi-Disciplinary
Craftsy (2010, Denver, $106M, Acq.)
Networking Platforms
SmartUp.io (2014, London, $5.5M)
Educational Resources
Questia (2007, Chicago, $155M, Acq.)
Courses
Lynda (1995, Carpinteria, $289M, Acq.)
Music
Zenph Online Education Network (2002, Durham, $11.2M)
Discovery
UrbanPro (2011, Bangalore, $2.11M)
Multi-Disciplinary
Snapguide (2011, San Francisco, $10M, Acq.)
Financial Literacy
Society of Grownups (2014, Brookline)
Brain Training
Lumosity (2005, San Francisco, $67.5M)
Cumulative funding in the marketFunding data excludes Debt, Grants and Post-IPO rounds. Excludes all details for Chinese companies
For any Feedback and Query reach out to MyAnalyst@tracxn.com
Continued Learning > Feed Summary > BlueBox
7

Key Sub Sectors in Continued Learning Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Professional > Courses >
Multi-Disciplinary 458 $195M 16
Professional > Courses > IT Education >
Programming 288 $66M 17
Professional > Courses > Multi-Disciplinary
>
MOOCs
61 $134M 6
Professional > Courses > IT Education >
Data Science 56 $40.2M 4
Professional > Courses >
IT Education 230 $22.5M 5
Skill Development > Categories > Music >
Learning Platform 74 $13.6M 5
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Professional
Companies providing courses and educational
resources for vocational training for web...
2694 435 $2.7B
Skill Development
Courses and resources for skill development in the
fields of music, dancing, driving,...
763 168 $582M
Casual
Companies which provide inspirational learning,
motivational learning, general knowledge,...
501 92 $280M
Continued Learning > Feed Summary > Summary of Key Markets

List of Notable Companies in Continued Learning
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Continued Learning > Feed Summary > Notable Companies in the Sector
Public
Pluralsight
(2004, Cedar Valley, $239M)*
M2i Formation
(1985, Paris, $7.7M)
BetterU
(2016, Mumbai)
Chromos
(2012, Scottsdale)
ED Corporation
(1986, Seongnam-si)
Tokyo Financial
Planners
(1989, Tokyo)
Acquired
Ascend Learning
(2010, Burlington)
Lynda
(1995, Carpinteria, $289M)
General Assembly
(2011, New York City, $173M)
Craftsy
(2010, Denver, $106M)
ProQuest
(2008, Ann Arbor)
Integrity Interactive
(1999, Waltham)
Learners Digest
International
(2000, California City)
GetSmarter
(2008, Cape Town, $5M)
Unicorns
Udacity

List of Notable Companies by Market in Continued Learning
Notable Companies by Market (1/3)
11
Continued Learning > Feed Summary > Notable Companies by Market
Professional
Courses
Lynda (1995, Carpinteria, $289M)
Online Video Tutorials
Unicorn. Stage: Acquired
TPG, Accel Partners, Spectrum Equity and 1 Other
Investors
Pluralsight (2004, Cedar Valley, $239M)
Online programming and creative learning courses
Unicorn. Stage: Public
Insight Venture Partners, Iconiq Capital, Sorenson
Capital and 4 Other Investors
Massive Open Online Courses (MOOC) provider
Soonicorn. Stage: Series D
GSV Asset Management, Learn Capital, New
Enterprise Associates and 13 Other Investors
Udemy (2010, San Francisco, $173M)
Marketplace for online courses
Naspers, Norwest Venture Partners, Insight
Venture Partners and 11 Other Investors
Courses
General Assembly (2011, New York City,
$173M)
Offline workshops and online courses
Soonicorn. Stage: Acquired
Learn Capital, Maveron, Advance and 14 Other
Investors
Udacity (2011, Mountain View, $160M)
Professional development "nanodegree" courses
provider
Unicorn. Stage: Series D
GV, Emerson Collective, Drive Capital and 7 Other
Investors
Online courses delivered by celebrity experts
IVP, Javelin Venture Partners, New Enterprise
Associates and 16 Other Investors
Courses
DataCamp (2004, New York City, $31.3M)
Online courses in data sciences
Soonicorn. Stage: Series B
Spectrum Equity, Arthur Ventures, Accomplice and
3 Other Investors
M2i Formation (1985, Paris, $7.7M)
Online and offline training programs on software
tools
Stage: Public
GetSmarter (2008, Cape Town, $5M)
Short-term online courses in partnership with
universities
Stage: Acquired
DiGAME
Ascend Learning (2010, Burlington)
Testing & certification for healthcare, education and
wellness professionals
Stage: Acquired
Providence Equity Partners

12
Professional
Courses
BetterU (2016, Mumbai)
Marketplace for discovering and enrolling into
online courses
Stage: Public
Varshney Capital
Chromos (2012, Scottsdale)
Online training for medical and aesthetic laser
professionals
Stage: Public
Genechem
Tokyo Financial Planners (1989, Tokyo)
Online courses for financial planning certification
Stage: Public
Nippon Venture Capital
Integrity Interactive (1999, Waltham)
Web-Based Corporate Ethics and Compliance
Training Solution
Stage: Acquired
Weston Presidio, Castanea Partners
Educational Resources
HLT (2012, Iowa City, $14.5M)
Mobile-based learning solution
Next Level Ventures, Bruce Lehrman, Richard
Ferguson and 2 Other Investors
Learners Digest International (2000,
California City)
Professional learning tools for healthcare
professionals
Stage: Acquired
Housatonic Partners
ProQuest (2008, Ann Arbor)
Online platform for research
Stage: Acquired
Goldman Sachs, ABRY Partners
Robotics Research & Learning
ED Corporation (1986, Seongnam-si)
Stage: Public

13
Skill Development
Categories
A video network for foodies
Soonicorn. Stage: Series E
Goldman Sachs Investment Partners, Amazon,
Redpoint Ventures and 8 Other Investors
Craftsy (2010, Denver, $106M)
Marketplace for online courses in handicrafts,
origami, etc
Editor's Pick. Stage: Acquired
Stripes Group, Foundry Group, Silicon Valley Bank
and 3 Other Investors
Mobile based driving learning
Sageview Capital, Silverton Partners, Floodgate
Fund and 5 Other Investors
Casual
Brain Training
Developer of web and app-based games for brain
training
Discovery Communications, FirstMark, Harrison
Metal and 3 Other Investors
Dictionary
Crowd sourced online encyclopedia
Soonicorn. Stage: Series A
Block.one, EOS, DNA and 3 Other Investors

List of Notable Companies in Continued Learning in China
Notable Companies in the Sector in China
14
Continued Learning > Feed Summary > Notable Companies in the Sector in China
Public
China Distance
Education Holdings
(2000, Beijing, $11.9M)
Sunlands
(2008, Beijing, $90M)
Tedu
(2002, Beijing, $20M)
T-MOOC
(2015, Beijing)

Recent News in Continued Learning Sector
Recent News
15
Continued Learning > Feed Summary > Recent News
Jan 2019 Coachilla makes matches that can change lives, GoodNewsfromFinland
Jan 2019 MOOC Operator EdX Solidifies Paywall, Campus Technology
Jan 2019 Coursera Intros SAS Programming Specialization, Campus Technology
Jan 2019
CBT Nuggets Announces Two New Microsoft Word 2019 Courses,
PRWeb
Jan 2019
Mastery Training Services Receives Best of Elearning 2018 Award
of Excellence, PRWeb
Jan 2019
Lumis Partners-backed Talentedge buys ed-tech firm in maiden
acquisition, VCCircle
Jan 2019
Kalmbach Media To Enter Marketing Partnership With Curiosity,
MediaPost
Jan 2019
ProQuest and Ex Libris Expand Investment in Latin America, PR
Newswire
Jan 2019
OpenClassrooms partners with Google to help build the workforce
of the future, PR Newswire
Jan 2019
CBT Nuggets Announces Oracle Database 12c: SQL Fundamentals
(1Z0-071) Course, PRWeb
Jan 2019
XuetangX, China’s Open edX Platform, Reaches 16M Learners,
IBLNews
Jan 2019
Careercake.com secures over £300,000 in latest round of funding,
ukbaa.org.uk
Jan 2019 Masterclass appoints new national sales manager, KBBDaily
Key Recent News Key Recent News
Dec 2018
QDOOZ to Complete Crowdcube Round With Nearly £600,000 in
Funding, Crowdfund Insider
Dec 2018 Tastemade Partners With Capital One On Linear Series, MediaPost
Dec 2018 Wolters Kluwer teams with OpenSesame on CPE, Accounting Today
Dec 2018
LUXROBO to present MODI, a DIY IoT Development Kit at CES expo
in Las Vegas, PR Newswire
Dec 2018 CBT Nuggets Releases New Microsoft SCCM Training Course, PRWeb
Dec 2018
Meet the Leading Data Science Service Providers in India Across
PeMa Quadrant, Business Today
Dec 2018 U-Masterclass to create young entrepreneurs, Digital News Asia
Dec 2018
Coursera Says Machine Learning Most Subscribed by Indians in
2018, New Delhi Television
Dec 2018
Luma adds driver hazmat training course to learning platform, CCJ
Magazine
Dec 2018 DataTrained raises Rs 12 crore from a clutch of HNIs, Indiatimes
Dec 2018
After roller coaster startup journey, presentation app Haiku Deck
sold to edtech company BookRags, GeekWire
Dec 2018
Six African startups selected for GSMA Ecosystem Accelerator
Innovation Fund, Ventureburn
Dec 2018
DataCamp raises $25 million for customizable online data science
courses, VentureBeat

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
16
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in Continued Learning; 2011-2018
Global Funding Trends (1/2)
18
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Continued Learning > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 22% # of Rounds15% $ Funding
8% # of Rounds
10% $ Funding
$3M
$205M
$436M
$659M $659M
$295M $310M
$478M
$3M
0
20
40
60
80
100
120
140
$0k
$100M
$200M
$300M
$400M
$500M
$600M
$700M
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

70 89 72 80 57 36 24 1
20
20
25 27
29
24
27
3 6 10
12
8 4 6
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
93
1
Total # of Rounds
$28M $43M $32M $50M $33M $22M $19M $3M
$134M
$220M
$254M
$147M
$135M $164M $284M
$43M $173M
$372M
$462M
$126M $124M $175M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
19
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Continued Learning; 2011-2018
Continued Learning > Investment Trends > Global Funding Trends
132
60
54
47
33
25 1
352
$2M
$1.8M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
0
50
100
150
200
250
300
350
400
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$2M $0.8M $1.7M $1.8M $2.2M $1.8M $2.6M $1.8M
$32M
$317M
$498M $489M
$113M
$196M
$337M
0
1
2
3
4
5
6
7
8
9
10
0
100000000
200000000
300000000
400000000
500000000
600000000
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding # of Rounds
Mega Rounds
1 8 7 9 3 6 8 -
$205M
$3M
Total $ Invested

Continued Learning > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Continued Learning
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 1.1B 137
New York City 409M 79
Carpinteria 289M 2
Cedar Valley 205M 8
Chicago 157M 16
Santa Monica 123M 10
Denver 111M 9
Berlin 106M 20
Paris 105M 19
Bangalore 69.6M 39
Total Funding
440
168
88
17
21
8
4
11
# Rounds
$2.8B
$415M
$98M
$41.5M
$31.9M
$16M
$10.5M
$9.4M
US
Europe
India
Israel
Latam
Australia
Colombia
Canada
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.5 $0.6 $0.6
$0.9 $0.9 $0.8 $1.0
2012 2013 2014 2015 2016 2017 2018
$5.2
$7.5
$3.9 $3.8 $3.7
$4.8
$7.9
$12.4
$17.5
$38.3
$10.1 $9.1
$19.3
$29.9
$14.4
$43.3 $46.5 $51.4
$18.0
$41.3 $35.0
Continued Learning > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Continued Learning; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$5K* $5M
$100K $32.1M
$250K $135M
$110K $186M
$35M
$12M
$4M
$500K
Series C+
Series B
Series A
Seed
Stage

Note: 401 companies with undisclosed funding amount are not included
22
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
142
149
44
6
10
No. of Companies
Continued Learning > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Continued Learning; as of Jan 2019
Distribution of companies by Funding Range
$44M
$526M
$860M
$406M
$1.8B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
18%
4%
2%
1%
23
Note: Numbers in the brackets show the count of companies
Time to raise
next round
41
65
162
695
3958
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
18% 1%
(24)
0%
(18)
0%
(6)
16%
(647)
66%
(2610)
23% 3%
(24)
3%
(18)
1%
(4)
13%
(90)
63%
(439)
40% 10%
(17)
6%
(9)
1%
(2)
4%
(6)
55%
(89)
63% 23%
(15)
12%
(8)
- 2%
(1)
35%
(23)
- 27%
(11)
15%
(6)
- - 32%
(13)
Continued Learning > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Continued Learning
Funding Funnel
18 Months
15 Months
23 Months
Investment backedBootstrapped
10
3
76
6
41
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Continued Learning > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Continued Learning; Jan 2017-Jan 2019
Notable Investments in last 24 months (1/3)
LATE STAGE
$80M - Series D Sep 2018
Associates, Advancit Capital, Atomico, Evolution
Media
$64M - Series D Jun 2017
Enterprise Associates, Kleiner Perkins
$40M - Series C Jul 2018
Offline and online job and management training for
working adults and college students
Felicis Ventures, Rethink Impact, Salesforce, Silicon
Valley Bank, Bessemer Venture Partners, Redpoint
Ventures, Harrison Metal, Cowboy Ventures,
Workday
LATE STAGE
$35M - Series E Oct 2018
A video network for foodies
Goldman Sachs Investment Partners, Amazon,
Redpoint Ventures, Raine Group, Cool Japan Fund,
Comcast Ventures, Liberty Media
$35M - Series C Mar 2017
IVP, GSV Acceleration, Sam Lessin, New Enterprise
Associates, Javelin Venture Partners, Bloomberg
Beta, Advancit Capital, Yan-David Erlich
$25M - Series C May 2017
CreativeLive (2010, Seattle, $54.5M)
Online platform that broadcasts live classes
REV, Greylock Partners, Social Capital, Richard
Branson, Creative Artists Agency, GSV AcceleraTE
LATE STAGE
$20M - Series C Jul 2018
Skillshare (2010, New York City, $42.8M)
Online P2P skill-based learning marketplace
Union Square Ventures, Spero Ventures, Amasia,
Burda Principal Investments
Series D Jun 2017
GSV AcceleraTE

EARLY STAGE
$60M - Series B May 2018
Online courses and MOOC platform
General Atlantic, Citizen Capital, Alven, Bpifrance
$47M - Series B Dec 2018
Mobile based driving learning
Sageview Capital
$31.1M - Series B Sep 2017
Digital Marketing Institute (2008, Dublin,
$31.1M)
Certified courses on digital marketing
Spectrum Equity
$30M - Series A Feb 2018
Crowd sourced online encyclopedia
Block.one, EOS, DNA
EARLY STAGE
$25M - Series B Dec 2018
Spectrum Equity, Arthur Ventures, Accomplice
$21M - Series B Sep 2017
Bessemer Venture Partners, Redpoint Ventures,
Harrison Metal, Cowboy Ventures
$20M - Series A Dec 2017
Digital House (2015, Buenos Aires, $20M)
Coding Bootcamp
The Rise Fund
$8M - Series B Jul 2017
HLT (2012, Iowa City, $14.5M)
Mobile-based learning solution
Next Level Ventures
EARLY STAGE
$7M - Series A Jul 2017
A Cloud Guru (2015, Melbourne, $7M)
AWS certification courses and training provider
Elephant Venture Capital
$6.5M - Series A Jun 2018
Open Learning (2012, Sydney, $10.4M)
Open marketplace for MOOC
Prestariang
$4M - Series A Jul 2017
Arthur Ventures
$4M - Series A Apr 2018
Teachable (2013, New York City, $12.5M)
Cloud-based course creation platform
Accomplice, Naval Ravikant, Tobias Lutke, Chris
Fanini, Eric Robison, Jonathan Klein

EARLY STAGE
$4M - Series A Jan 2017
Teachable (2013, New York City, $12.5M)
Accomplice, Learn Capital, Winklevoss Capital, Naval
Ravikant, Matt Brezina
$2.5M - Series A Dec 2018
Osmosis (2012, Charlottesville, $2.5M)
Educational resources platform for medical students
Greycroft Partners, BuzzFeed
$100k - Series A Jul 2017
Picmonic (2011, Tucson, $6.5M)
Visual learning platform for medicine students
SEED STAGE
$697k - Angel Dec 2017
Avagmah (2010, Bangalore, $5.2M)
Online distance learning MBA certification programs
for working professionals
Ranjan Pai
Seed Nov 2017
Talentedge (2012, Mumbai, $10.2M)
Digital learning portal for professional certification

Continued Learning > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$150M - Series C Nov 2018
VIP (2014, Shanghai, $165M)
Online music learning platform for students
Tencent, Orchid Asia Group, BlueRun Ventures, GSR
Ventures, Longcapital
$115M - Series C Nov 2018
Gaodun Online School (2007, Shanghai,
$150M)
Online certification courses on accounting and
finance
Hillhouse Capital Group, Morgan Stanley, Yonghua
Capital, Vision Knight Capital
$106M - Series C Feb 2018
Zhihuishu (2006, Beijing, $186M)
Online MOOC platform
EARLY STAGE
$90M - Series B Aug 2017
Sunlands (2008, Beijing, $90M)
Instructor-led live classroom training platform
Primavera Capital Group
$4.5M - Series A Aug 2017
Zhongheedu (2006, Beijing, $40.5M)
Legal Education Training and Development Platform
Yonghua Capital
SEED STAGE
$100M - Angel Oct 2018
Xlzhao (2016, Hangzhou, $100M)
Mobile-based course creation platform

Most Active Investors (VC, PE) by Stage in Continued Learning; Last 5 years (Jan 2014-Jan 2019)
Most Active VC & PE Investors
28
Continued Learning > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Learn Capital(3 Investments)
SoloLearn, Teachable, Savvy
1
Rethink(3 Investments)
CareAcademy, Flocabulary, Vidcode
2
Partech (2 Investments)
Jellynote, Savvy
3
Blu Venture Investors (2 Investments)
Cybrary, Citelighter
4
General Catalyst Partners (2 Investments)
One Month, Outlearn
5
Andreessen Horowitz (2 Investments)
CodeCombat, One Month
6
Floodgate Fund (2 Investments)
Aceable, Allclasses
7
Dorm Room Fund (2 Investments)
LearnLux, Py
8
Fresco Capital (2 Investments)
AlwaysHired, Savvy
9
Howzat Partners (2 Investments)
Crehana, MyOnlineSchool
10
EARLY STAGE
Harrison Metal (2 Investments)
MasterClass, Guild Education
1
Arthur Ventures(2 Investments)
DataCamp, Linux Academy
2
Thrive Capital (2 Investments)
Flatiron School, Benchling
3
Partech(2 Investments)
Ornikar, OpenSesame
4
Spectrum Equity(2 Investments)
DataCamp, Digital Marketing Institute
5
Global Founders Capital (2 Investments)
Memorado, Skillup
6
Moneta Ventures(2 Investments)
Springboard, QuickStart
7
Redpoint Ventures
Guild Education
8
Learn Capital
Springboard
9
Social Capital
Guild Education
10
LATE STAGE
IVP (2 Investments)
MasterClass, General Assembly
1
Goldman Sachs Investment Partners
(2 Investments)
Tastemade, ResearchGate
2
Naspers(2 Investments)
Udemy, Codecademy
3
GSV AcceleraTE (2 Investments)
Coursera, CreativeLive
4
Stripes Group (2 Investments)
Udemy, Craftsy
5
Norwest Venture Partners
Udemy
6
Learn Capital
General Assembly
7
Comcast Ventures
Tastemade
8
GSV Capital
General Assembly
9
Rethink
General Assembly
10

Continued Learning > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Continued Learning; Last 5 years (Jan 2014-Jan 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(24 Investments)
Platzi, Elevate, Fullstack Academy
1
Techstars(13 Investments)
DataCamp, Mimo, CareAcademy
2
Y Combinator(12 Investments)
Platzi, Benchling, Py
3
MassChallenge(11 Investments)
Orai, TimeLooper, Museloop
4
Plug and Play Tech Center(3 Investments)
Springshot, Codevolve, Talentia
5
NXTP Labs(3 Investments)
OM Latam, Guidecentr, Ojala
6
Startupbootcamp(3 Investments)
Wisboo, Codela, Achieved
7
Start-Up Chile(2 Investments)
Latina Researchers, Descola
8
Startup Wise Guys(2 Investments)
Wisboo, Rockyourpaper
9
Imagine K12(2 Investments)
Class Central, Codevolve
10
OTHER NOTABLE INVESTORS
Wayra(6 Investments)
Acamica, Crehana, Pupilum
1
Kima Ventures(5 Investments)
Ornikar, Kokoroe, Designlab
2
Google(3 Investments)
ProgrammingHub, Hyperion Development, Haruka Edu
3
Great Oaks Venture Capital(3
Investments)
Docphin, Allclasses, Cursogram
4
Accomplice(2 Investments)
DataCamp, Teachable
5
New York Angels(2 Investments)
Citelighter, Hakka Labs
6
Liberty Media(2 Investments)
Tastemade, Brit + Co
7
Baltimore Angels(2 Investments)
Cybrary, Citelighter
8
Bpifrance(2 Investments)
OpenClassrooms, Unow
9
Angel Ventures(2 Investments)
Ojala, Talentia
10
DEBT INVESTORS
Western Technology Investment(4
Investments)
General Assembly, Instructables, Darby Smart
1
InnoVen Capital(2 Investments)
Simplilearn, Edusys
2
Silicon Valley Bank(2 Investments)
Craftsy, Guild Education
3
Connecticut Innovations
Achieve Music
4
Enterprise Ventures
Datalaw
5
Idinvest Partners
Ornikar
6
Lighter Capital
Envisiontel
7
Mercia Technologies
IN-PART
8
The North West Fund
Datalaw
9
TPG
Lynda
10

Continued Learning > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/2)

Continued Learning > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (2/2)

Continued Learning > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
33
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
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Nov 2018
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Nov 2018
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Oct 2018

January 2019Tracxn BlueBox – Continued Learning
35
Continued Learning > Market Details > BlueBox

Key Sub Sectors
36
Key Sub Sectors in Continued Learning
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Professional
Companies providing courses and educational resources for vocational training for web
development, m....
Lynda (1995, Carpinteria, Acquired)
2694 435 $2.7B
Skill Development
Courses and resources for skill development in the fields of music, dancing, driving, knitting,
etc
Craftsy (2010, Denver, Acquired)
763 168 $582M
Casual
Companies which provide inspirational learning, motivational learning, general knowledge,
how to videos, etc
Peak (2012, London, Acquired)
501 92 $280M
Continued Learning > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/11)
37
Continued Learning > Market Details > Detailed Sector Taxonomy

38

39

40

41

42

43

44

45

46

47

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Companies providing courses for vocational training on multiple subjects and specialities such as IT,
management, and soft skills
(Companies covered 458 | Funded 83 | Total Funding $1.2B)
$195M
(-$267M)
16
(-21)
MasterClass
(2015, San Francisco, $136M)
2
(-)
Professional > Courses > IT Education > Programming
Companies providing online courses and boot camps on programming languages such as Java, .NET,
and Python
(Companies covered 288 | Funded 61 | Total Funding $195M)
$66M
(-$2.8M)
17
(-8)
Digital House
(2015, Buenos Aires, $20M)
3
(-)
Professional > Courses > Multi-Disciplinary > MOOCs
Companies that offer Massive Open Online Courses (MOOCs)
$134M
(+$55M)
6
(-2)
Coursera
4
(+1)
Professional > Courses > IT Education > Data Science
Companies providing online courses to study data science
(Companies covered 56 | Funded 8 | Total Funding $49.8M)
$40.2M
(+$30.9M)
4
(-4)
DataCamp
(2004, New York City, $31.3M)
5
(+1)
Professional > Courses > IT Education
Companies providing online IT education courses on topics such as programming, software testing, and
project management
$22.5M
(+$10.3M)
5
(-2)
Liveedu
6
(-2)
Skill Development > Categories > Music > Learning Platform
Companies providing online platforms to learn music in a self-paced environment
$13.6M
(-$6.8M)
5
(-4)
JoyTunes
(2011, Kfar Saba, $17M)
48
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in Continued Learning in last 2 years (January 2017 - December 2018)
Continued Learning > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Companies providing courses for vocational training on multiple subjects and specialities such as IT,
management, and soft skills
(Companies created 458 | Funded 83 | Total Funding $1.2B )
1 Guild Education (2015, Palo Alto, $71.5M)
2
Professional > Educational Resources > Academic Research > Research
Management
Companies providing online tools to organise and highlight research findings, saved articles and other
resources
(Companies created 24 | Funded 10 | Total Funding $43.3M )
1 Benchling (2012, San Francisco, $27.4M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
49
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (January 2017 - December 2018)
Continued Learning > Market Details > Top Markets of Early Stage Investors

Incubators 500 Startups (#3), Techstars (#2)
Seed Kima Ventures (#2), CyberAgent Ventures (#1)
Series A/B Learn Capital (#1), Redpoint Ventures (#1)
Series C+ IVP (#2), Accel Partners (#1)
Skillandyou Jul - 2018
Acq by Andera Partners
Learndirect Jun - 2018
Acq by Dimensions
ICS Learn May - 2018
Acq by Primary Capital Partners
General Assembly Apr - 2018
Acq by Adecco Group for $413M
Iversity Nov - 2017
Acq by SpringerNature
Career Partner Nov - 2017
Acq by Oakley Capital
$385k - Seed
Careercake (2010, Cardiff, $385k)
$1M - Angel
Training Calendar (2015, Dubai,
$2.1M)
$120k - Seed
Subhe (2017, Delhi, $120k)
$80M - Series D
MasterClass (2015, San Francisco,
$136M)
$40M - Series C
Guild Education (2015, Palo Alto,
$71.5M)
$8.3M - Series A
Platzi (2012, Bogota, $10.5M)
Jan 2019 Masterclass appoints new national sales manager, KBBDaily
Dec 2018
Wolters Kluwer teams with OpenSesame on CPE, Accounting
Today
Dec 2018
Meet the Leading Data Science Service Providers in India
Across PeMa Quadrant, Business Today
Dec 2018
U-Masterclass to create young entrepreneurs, Digital News
Asia
Dec 2018
Luma adds driver hazmat training course to learning
platform, CCJ Magazine
Dec 2018
Six African startups selected for GSMA Ecosystem
Accelerator Innovation Fund, Ventureburn
Dec 2018
Top IT Jobs in Demand in India, Revealed by Simplilearn
Study, PR Newswire
Dec 2018
Colibri Group Introduces ColibriConnect Technology
Platform, the Smart Way Professionals Access Learning and
Manage Their Careers, Business Wire
Dec 2018
James Suckling joins MasterClass to teach wine appreciation,
The Drinks Business
Dec 2018
Israel’s Internal Security Service Launches 2nd Tech
Accelerator Cycle, NoCamels
Nov 2018
WorldQuant and Udacity Hiring Partnership Brings New
Career Opportunities to Global Talent, AIThority
Nov 2018 Betteru Education Corp. reports Q2 results, Seeking Alpha
Nov 2018
Udacity cuts 125 employees as part of global restructuring
plan, VentureBeat
Nov 2018
Special Report: Getting to the meat of the matter, Energy Live
News
News
18
13
28
83
458
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Professional > Courses > Multi-Disciplinary: Market Factsheet
50
Exits
Most Active Investors
Recent InvestmentsCompanies providing courses for
vocational training on multiple
subjects and specialities such as
IT, management, and soft skills
Lynda
(1995, Carpinteria, $289M)
Udemy
General Assembly
Udacity
Top Companies
#1 Top Markets of Investment Activity
Continued Learning > Market Details > Market: Multi-Disciplinary
Companies Created 458 | Funded 83 | Total Funding $1.2B
0
5
10
15
20
25
$0k
$50M
$100M
$150M
$200M
$250M
$300M
$350M
$400M
2014 2015 2016 2017 2018
YoY Funding Rounds
YoY Funding and Rounds
Market: Multi-Disciplinary

Professional > Courses > Multi-Disciplinary: Top Companies
Market: Multi-Disciplinary (1/2)
Analyst’s Pick
Unicorn. Stage: Acquired
TPG, Accel Partners, Spectrum Equity, Meritech
Capital Partners
Udemy (2010, San Francisco, $173M)
Naspers, Norwest Venture Partners, Insight
Venture Partners and 11 Other Investors
$173M)
Soonicorn. Stage: Acquired
Learn Capital, Maveron, Advance and 14 Other
Investors
Udacity (2011, Mountain View, $160M)
Professional development "nanodegree" courses
provider
Unicorn. Stage: Series D
GV, Emerson Collective, Drive Capital and 7 Other
Investors
Analyst’s Pick
Associates and 16 Other Investors
Editor's Pick. Stage: Series C
Felicis Ventures, Rethink Impact, Salesforce and 10
Other Investors
Simplilearn (2009, Bangalore, $33.9M)
Online portal for professional certification
programs
Minicorn. Stage: Series C
Mayfield, Helion Venture Partners, Kalaari Capital
and 10 Other Investors
Platzi (2012, Bogota, $10.5M)
Online courses in web and app development
Editor's Pick. Stage: Series A
Omidyar Network, 500 Startups, Amasia and 7
Other Investors
Analyst’s Pick
eduK (2013, Sao Paulo, $10M)
Online courses for professional education
Editor's Pick. Stage: Series B
Felicis Ventures, Monashees+, Accel Partners
Aeon Learning (2013, Bangalore, $6.5M)
Online learning for corporates
EduPristine (2007, Mumbai, $2.7M)
Classroom and online courses for certification
preparation
Kaizen Private Equity, Adtalem Global Education,
Accel Partners and 2 Other Investors
GreyCampus (2008, Hyderabad, $2.1M)
Online learning solutions for professional
certifications, higher education & test preparation
Minicorn. Stage: Seed
SSPDL, Biopharma Labs, Splice Capital and 10
Other Investors

Professional > Courses > Multi-Disciplinary: Top Companies
Market: Multi-Disciplinary (2/2)
Analyst’s Pick
EduKart (2011, Delhi, $2M)
Web based education marketplace platform
Minicorn. Stage: Acqui-Hired
500 Startups, YouWeCan, United Finsec and 4 Other
Investors
Uniweb (2010, Moscow, $2M)
Online courses from Russian universities
Minicorn. Stage: Seed
Iversity (2011, Bernau Bei Berlin, $1.7M)
Massive open online courses
Holtzbrinck Digital, Bmp Media Investors, Deutsche
Telekom Capital Partners and 2 Other Investors
Eneza Education (2011, Nairobi, $550k)
Educational courses through SMS for mobile
natives across Africa
Editor's Pick. Stage: Seed
Safaricom, Global Partnerships, Savannah Fund,
D3Jubilee
Analyst’s Pick
Certification Europe (1999, Dublin, $501k)
Online certification and training platform for
individuals and corporate
Kernel Capital
Hahow (2015, Taipei, $316k)
Cherubic Ventures
Colibri Group (1989, St. Louis)
Online learning solutions for professionals
Quad-C
Coursebirdie (2011, Delhi)
Online courses for learning new skills
Editor's Pick. Stage: Unfunded
eCornell (2000, Ithaca)
Online certification programs for individuals and
businesses
Analyst’s Pick
Kyna.vn (2013, Ho Chi Minh City)
E-learning platform for online courses in vietnam
CyberAgent Ventures
Luma (2008, South Bend)
Content creators for any topic
Tutellus (2017, Madrid)
Collaborative education platform
Editor's Pick. Stage: Funded
Tutplus (2007, Melbourne)
Online learning platform
Vibe Learning (2014, Sydney)
Online professional courses platform

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
53
Professional > Courses > Multi-Disciplinary: Leaderboard
Better than Market Average
Market: Multi-Disciplinary
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Udacity 2011
Mountain
View
Series D $160M 4 5 4 - - 206k 3M 22.9k 77 613 3% 9k 5%
4.9 MasterClass 2015
San
Francisco
Series D $136M 5 - 4 - - 38k 30k 78 17 - - 4.3k 13%
4.9 Udemy 2010
San
Francisco
Series D $173M 6 5 3 - - 171k 75k 598 22 23.8k
-
103%
12.7k 8%
4.7 Lynda 1995 Carpinteria Acquired $289M 2 4 4 - - 112k 3.1M 8.8k 20 411 5% 1.4k 1%
4.6 Platzi 2012 Bogota Series A $10.5M 3 4 4 - - 93k 79k 1.7k 1 727 75% 8.5k 10%
4.6 Simplilearn 2009 Bangalore Series C $33.9M 6 4 4 - - 9.1k 300k 1.8k 35 185 12% 192 2%
4.5
Shaw
Academy
2013 Dublin Seed $2.9M 1 4 4 - - 38k 300k 5.1k 6 2k 63% - -
4.1 Iversity 2011
Bernau Bei
Berlin
Acquired $1.7M 6 - - - - 11k - - 6 - - 200 2%
3.8
Guild
Education
2015 Palo Alto Series C $71.5M 3 5 - - - - - - 6 - - - -
3.8
General
Assembly
2011
New York
City
Acquired $173M 6 5 - - - 155 - - 16 - - -1 -1%
3.7
Aeon
Learning
2013 Bangalore Acquired $6.5M 1 - - - 4 14 - - 5 - - 4 40%
3.6 SkillLane 2014 Bangkok Seed - 2 4 5 - - 28 30k 51 5 17 50% 8 40%
3.5 OpenSesame 2011 Portland Series C $24M 5 - - - - 5.7k - - 6 - - -108 -2%

Incubators Y Combinator (#9), Techstars (#2)
Seed Learn Capital (#2), Andreessen Horowitz (#2)
Series A/B Thrive Capital (#2), Social Capital (#1)
Series C+ Flybridge Capital Partners (#1), Red Ventures (#1)
The Firehose Project Oct - 2018
Acq by Trilogy Education Services
Hack Reactor Jul - 2018
Acq by Galvanize
CareerFoundry Apr - 2018
Acq by Verdane Capital
Bloc Apr - 2018
Acq by Thinkful
Viking Code School Nov - 2017
Acq by Thinkful
Flatiron School Oct - 2017
Acq by WeWork
Stuk Feb - 2016
Acq by Codeplace
$2.3M - Seed
Educative (2015, Seattle, $2.4M)
Series A
Android IDE (2012, Karlsruhe)
$5.6M - Series A
SoloLearn (2013, Pleasanton, $6.9M)
$2M - Seed
Coding Dojo (2012, San Jose, $2M)
$2.1M - Series A
Make School (2012, San Francisco,
$12.4M)
$10M - Series A
Thinkful (2012, New York City, $24.9M)
Nov 2018
Educative Raises $2.3M to Accelerate Software Development
Learning, EdSurge
Nov 2018
SpringPeople partners with CompTIA for IT training
programmes, Indiatimes
Oct 2018
Cengage Invests in Codevolve to Help Students Learn
Computer Programming, AIThority
Oct 2018
In brief: Ayala funds healthcare services startup AIDE, Tech in
Asia
Oct 2018
MedMen Real Estate Assets Seed New Investment Vehicle,
Business Wire
Oct 2018
Aidemy is Offering an Online Learning Platform Specialising
in Blockchain Programming, PR Newswire
Oct 2018
Trilogy Education acquires career services and coding
instruction platforms, Staffing Industry Analysts
Sep 2018 Global coding community SoloLearn rallies $5.6 mln, PE Hub
Sep 2018
Former Mondelez exec joins TreeHouse board, Baking
Business
Aug 2018
WeWork's Flatiron School Acquires Chicago Design School
Designation, BTVI
Aug 2018 Kiwi firm Code Avengers exports EdTech to Chile, bizEDGE
Jul 2018
Leading U.S. coding boot camps Galvanize, Hack Reactor to
merge, Reuters
Jul 2018
Code Institute partners with JobStreet in south-east Asia
expansion, Silicon Republic
May 2018
In the money May 21: More than $45 million raised by
TreeHouse, Vytalyx, others , The Business Journals
News
9
6
16
61
288
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Professional > Courses > IT Education > Programming: Market Factsheet
54
Exits
Recent InvestmentsCompanies providing online
courses and boot camps on
programming languages such as
Java, .NET, and Python
Codecademy
Thinkful
Digital House
(2015, Buenos Aires, $20M)
Flatiron School
Treehouse
(2011, Orlando, $12.5M)
Top Companies
Continued Learning > Market Details > Market: Programming
Companies Created 288 | Funded 61 | Total Funding $195M
0
2
4
6
8
10
12
14
$0k
$10M
$20M
$30M
$40M
$50M
2014 2015 2016 2017 2018
YoY Funding Rounds
Market: Programming

Professional > Courses > IT Education > Programming: Top Companies
Market: Programming
Analyst’s Pick
Treehouse (2011, Orlando, $12.5M)
Online courses for programming
Editor's Pick. Stage: Series C
Red Ventures, Kaplan Ventures, Social Capital and 3
Other Investors
Educative (2015, Seattle, $2.4M)
Marketplace platform for programming courses
SK Ventures, Trilogy Equity Partners, Techstars
Vidcode (2014, New York City, $1.5M)
Coding platform for schools
ZhenFund, Y Combinator, Coventure and 4 Other
Investors
Mimo (2016, Vienna, $686k)
Mobile-based learning platform for coding
Bernhard Niesner, Techstars
Analyst’s Pick
Aidemy (2014, Bunkyo)
Online programming courses for individuals and
corporate
University of Tokyo Edge Capital
Hyperion Development (2012, Durban)
MOOC for software development
Facebook, Google, Python Software Foundation,
Oracle
Programmer Thailand (2013, Amphoe
Mueang Samut Prakan)
Online educational platform for video tutorials on
programming
ProgrammingHub (2015, Thane)
Online learning platform for computer
programming
Google

56
Professional > Courses > IT Education > Programming: Leaderboard
Market: Programming
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 SoloLearn 2013 Pleasanton Series A $6.9M 3 - 5 - - 11k 33.2M 666.3k 3 76.8k 13% 1.6k 17%
4.5 Codecademy 2011
New York
City
Series C $42.5M 3 - - - - 487k - - 9 - - 702 -
4.5
Flatiron
School
2012
New York
City
Acquired $14.5M 2 - - - - 11k - - 5 - - 1.5k 15%
4.4 Thinkful 2012
New York
City
Series A $24.9M 4 - - - - 7.9k - - 6 - - 351 5%
4.4
Digital
House
2015
Buenos
Aires
Series A $20M 2 - - - - 5.2k - - 2 - - 1.1k 25%
4.2 Progate 2014 Shibuya Seed $1.2M 2 - 4 - - 18k 75k 399 - 262 191% 6k 50%
4.2 Mimo 2016 Vienna Seed $686k 1 3 5 - - 5.9k 3M 48.5k 1 52.2k
-
1410
%
567 11%
4.1 Bloc 2011
San
Francisco
Acquired $8.5M 3 - - - - 3.4k - - 7 - - 13 -
3.9 CodeCombat 2013
San
Francisco
Seed $2M 2 - - - - 4.9k - - 2 - - 881 22%
3.9 Hack Reactor 2012
San
Francisco
Acquired $1M 2 - - - - 9.7k - - 1 - - 199 2%
3.8 CodinGame 2012
San
Francisco
Seed $2.1M 2 4 - - - 8.8k - - 1 - - 231 3%
3.6 Enki 2015 London Seed $573k 2 - 5 - - - 750k 12.8k 2 1.6k 14% - -

Incubators 500 Startups (#1), Plug and Play Tech Center (#1)
Seed Alven (#1), News Invest (#1)
Series A/B Bpifrance (#1), Learn Capital (#1)
Series C+ GSV AcceleraTE (#1), GSV Asset Management (#1)
GetSmarter Jul - 2017
Acq by 2U for $103M
$6.5M - Series A
Open Learning (2012, Sydney,
$10.4M)
$60M - Series B
OpenClassrooms (2007, Paris,
$69.7M)
Seed
$3.6M - Series A
Unow (2013, Paris, $4.5M)
$64M - Series D
Coursera (2012, Mountain View,
$210M)
Series D
Coursera (2012, Mountain View,
$210M)
$2.2M - Series B
Haruka Edu (2013, Jakarta, $4.4M)
$6.7M - Series B
OpenClassrooms (2007, Paris,
$69.7M)
$1.8M - Series A
Kadenze (2013, Stevenson Ranch,
$3.5M)
Jan 2019 MOOC Operator EdX Solidifies Paywall, Campus Technology
Jan 2019
Lumis Partners-backed Talentedge buys ed-tech firm in
maiden acquisition, VCCircle
Jan 2019
OpenClassrooms partners with Google to help build the
workforce of the future, PR Newswire
Dec 2018
Coursera Says Machine Learning Most Subscribed by Indians
in 2018, New Delhi Television
Nov 2018
Coursera set to train professionals on AWS services,
Indiatimes
Nov 2018
Talentedge announces the appointment of Neeraj Sharma as
Chief Growth Officer, IndiaBlooms
Nov 2018
Unicaf raises €25 million to make higher education more
accessible in Africa, EU-Startups
Nov 2018 Unicaf Raises $28M in Series B Funding, FinSMEs
Nov 2018
EdX enrols in Unicaf’s $28m series B, Global Corporate
Venturing
Oct 2018
Brightline Initiative Announces the Launch of a New Online
Learning Course in Collaboration with Coursera, Business Wire
Aug 2018
The Great Courses Plus Announces Voice-Activated Audio
Streaming, AIThority
Jul 2018
Coursera now offers Master of Computer and IT in
association with University of Pennsylvania, Gadgets Now
Jun 2018
Australian Startup Raises $8.5 Million to Expand Platform for
Hosting MOOCs, EdSurge
May 2018
Goldman Sachs 10,000 Women Launches Online Education
Partnership with Coursera, DQWeek
News
3
3
9
16
61
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Professional > Courses > Multi-Disciplinary > MOOCs: Market Factsheet
57
Exits
Recent InvestmentsCompanies that offer Massive
Open Online Courses (MOOCs)
Coursera
OpenClassrooms
(2007, Paris, $69.7M)
Open Learning
(2012, Sydney, $10.4M)
Talentedge
(2012, Mumbai, $10.2M)
GetSmarter
(2008, Cape Town, $5M)
Top Companies
Continued Learning > Market Details > Market: MOOCs
0
1
2
3
4
5
6
$0k
$10M
$20M
$30M
$40M
$50M
$60M
$70M
$80M
2014 2015 2016 2017 2018
YoY Funding Rounds
Market: MOOCs

Professional > Courses > Multi-Disciplinary > MOOCs: Top Companies
Market: MOOCs
Analyst’s Pick
Enterprise Associates and 13 Other Investors
Online courses and MOOC platform
Editor's Pick. Stage: Series B
General Atlantic, Citizen Capital, Alven and 2 Other
Investors
Open Learning (2012, Sydney, $10.4M)
Open marketplace for MOOC
Minicorn. Stage: Series A
Prestariang, SYD Ventures, muru-D, Follow The
Seed
Digital learning portal for professional certification
Minicorn. Stage: Acquired
Aditya Malik
Analyst’s Pick
Unow (2013, Paris, $4.5M)
MOOC platform for business professionals
News Invest, Alto Invest, M Capital Partners and 3
Other Investors
Haruka Edu (2013, Jakarta, $4.4M)
Solution provider for universities to offer online
education
Minicorn. Stage: Series B
Pearson Affordable Learning Fund, CyberAgent
Ventures, Samator, Google
Kadenze (2013, Stevenson Ranch, $3.5M)
Online learning platform for arts and creative
technology
UpGrad (2015, Mumbai)
Online higher education programs for working
professionals
Minicorn. Stage: Unfunded
Analyst’s Pick
Alison (2007, Galway)
Free online courses from universities and
publishers
SOSV
edX (2012, Boston)
Non-profit MOOC platform
University Ventures
FutureLearn (2012, London)
MOOCs by UK universities

59
Professional > Courses > Multi-Disciplinary > MOOCs: Leaderboard
Market: MOOCs
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Coursera 2012
Mountain
View
Series D $210M 8 5 4 - - 384k 7.5M 92.6k 43 2.6k 3% 7.2k 2%
4.3 edX 2012 Boston Funded - - 5 5 - - 275k 3M 38.3k 19 8.2k 27% 11.7k 4%
4.2
OpenClassro
oms
2007 Paris Series B $69.7M 4 2 - - - 2.8k - - 7 - - 915 50%
4.2 Talentedge 2012 Mumbai Acquired $10.2M 2 5 4 - - 4.6k 9k 43 4 12 39% - -
4.2 GetSmarter 2008 Cape Town Acquired $5M 1 4 - - - 11k - - 4 - - 900 9%
3.8
Open
Learning
2012 Sydney Series A $10.4M 3 2 - - - 3.6k - - 5 - - 143 4%
3.7 UpGrad 2015 Mumbai Unfunded - - 5 5 - - 4.3k 330k 1.7k 16 229 16% 446 12%
3.6 Kadenze 2013
Stevenson
Ranch
Series A $3.5M 3 - - - - 3.1k - - 1 - - 211 7%
3.4 Edraak 2013 Amman Unfunded - - 4 5 - - 70k 300k 1.6k - 620 67% 14.2k 25%
3.3 Unow 2013 Paris Series A $4.5M 2 3 - - - 6.9k - - - - - 134 2%
3.1
The Great
Courses
1990 Chantilly Unfunded - - 3 4 - - 9.7k 300k 1.3k 2 235 22% 924 11%
3.1 Rwaq 2013 Jeddah Unfunded - - 4 5 - - 220k 300k 2.6k - 111 4% 23.5k 12%
2.9 Alison 2007 Galway Funded - - 5 - - - 19k - - 2 - - 172 1%
2.7 Miríada X 2013
Boadilla
Del Monte
Unfunded - - - 3 - - 51k 75k 565 - 88 18% 401 1%

Continued Learning > Market Details > Market: Data Science
Companies Created 56 | Funded 8 | Total Funding $49.8M
Market: Data Science

Continued Learning > Market Details > Market: IT Education
Market: IT Education

Continued Learning > Market Details > Market: Learning Platform
Market: Learning Platform

#2 Top Markets of Early Stage Investors
Continued Learning > Market Details > Market: Research Management
Companies Created 24 | Funded 10 | Total Funding $43.3M
Market: Research Management

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
72
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies
74
Performance indicators of public companies in Continued Learning
IPO Date Company
IPO
Mcap
Exchange
Ticker
May 2018
Pluralsight (2004, Cedar Valley)
Online programming and creative learning courses
$2B NASDAQ:PS
Mar 2018
Sunlands (2008, Beijing)
Instructor-led live classroom training platform
$20.9M NYSE:STG
Sep 2017
M2i Formation (1985, Paris)
Online and offline training programs on software tools
$12.5M EPA:ALMII
Apr 2014
Tedu (2002, Beijing)
Professional training services
TEDU
Jul 2013
Tokyo Financial Planners (1989, Tokyo)
Online courses for financial planning certification
TYO:4792
Jul 2008
China Distance Education Holdings (2000, Beijing)
Online education platform in China focusing on professional learning
$248M NYSE:DL
Aug 1997
ED Corporation (1986, Seongnam-si)
KOSDAQ:33110
BetterU (2016, Mumbai)
Marketplace for discovering and enrolling into online courses
Chromos (2012, Scottsdale)
Online training for medical and aesthetic laser professionals
T-MOOC (2015, Beijing)
Online learning and training courses
Continued Learning > Exit Outlook > Public Companies

Notable Acquisitions (1/3)
75
Notable Acquisitions in Continued Learning
Continued Learning > Exit Outlook > Notable Acquisitions
2018
Acquirer: Andera Partners
Skillandyou (2004, Montrouge, $22.5M)
A chain of distance education based vocational
training institutes
Acquirer: Adecco Group Deal: $413M
$173M)
2017
Acquirer: 2U Deal: $103M
GetSmarter (2008, Cape Town, $5M)
Short-term online courses in partnership with
universities
Acquirer: NBCUniversal Deal: $230M
Craftsy (2010, Denver, $106M)
Marketplace for online courses in handicrafts,
origami, etc
Acquirer: Blackstone Deal: $2B
Ascend Learning (2010, Burlington)
Testing & certification for healthcare, education and
wellness professionals
2015
Acquirer: Wolters Kluwer Deal: $150M
Learners Digest International (2000,
California City)
Professional learning tools for healthcare
professionals
Acquirer: LinkedIn Deal: $1.5B

76
2014
Acquirer: CITIC Capital
SHSUN Edu (2004, Beijing, $100M)
Professional education and training platform
2010
Acquirer: SAI Global Deal: $170M
Integrity Interactive (1999, Waltham)
Web-Based Corporate Ethics and Compliance
Training Solution
Acquirer: Gale
Questia (2007, Chicago, $155M)
Resource Library for researchers
Before 2008
Acquirer: CIG Deal: $222M
ProQuest (2008, Ann Arbor)
Online platform for research

77
Others
Acquirer: Main Street Capital
CBT Nuggets (1999, Eugene)
Online video training for IT professionals

Most Active Acquirers
78
Continued Learning > Exit Outlook > Most Active Acquirers

Acqui-hires
79
List of Acqui-hires in Continued Learning
Excludes all details for Chinese companies
Date Target
Jul-17 Codebashing Acq by Checkmarx
Mar-17 Terminal Acq by Udacity
Sep-16 EduKart Acq by Paytm
Jun-16 BookMyInterest Acq by Giftxoxo
Jun-16 Outlearn Acq by Qwiklabs
May-16 Synergyse Acq by Google
Continued Learning > Exit Outlook > Acqui-hires
View all 6 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
80
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Continued Learning > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Continued Learning; Last 5 years (Jan 2014 - Dec 2018)
Index of Most Active VC & PE Investors
SEED STAGE
Learn Capital (3 Investments)
Rethink (3 Investments)
Andreessen Horowitz (2 Investments)
Fresco Capital (2 Investments)
Floodgate Fund (2 Investments)
Howzat Partners (2 Investments)
Blu Venture Investors (2 Investments)
General Catalyst Partners (2 Investments)
Dorm Room Fund (2 Investments)
Kernel Capital (2 Investments)
Reaktor Ventures (2 Investments)
Rothenberg Ventures (2 Investments)
The EdTech Fund (2 Investments)
Harrison Metal
EARLY STAGE
Harrison Metal (2 Investments)
Arthur Ventures (2 Investments)
Thrive Capital (2 Investments)
Spectrum Equity (2 Investments)
Global Founders Capital (2 Investments)
Moneta Ventures (2 Investments)
Learn Capital
Redpoint Ventures
New Enterprise Associates
Andreessen Horowitz
GSV Capital
Holtzbrinck Digital
Kapor Capital
Social Capital
LATE STAGE
Goldman Sachs Investment Partners (2
Investments)
IVP (2 Investments)
Naspers (2 Investments)
GSV AcceleraTE (2 Investments)
Stripes Group (2 Investments)
Learn Capital
GSV Capital
Rethink
Felicis Ventures
Comcast Ventures
GV
Javelin Venture Partners
Altos Ventures Capital

Learn Capital
83
Portfolio in Continued Learning | Exits | Funds Link | Website | LinkedIn | Twitter
Continued Learning > Investors > Learn Capital
People
Investments
[Soonicorn] Coursera (2012, Mountain View, $210M, Series D)
[Soonicorn] Udemy (2010, San Francisco, $173M, Series D)
[Minicorn] Teachable (2013, New York City, $12.5M, Series A)
[Editor's Pick] Springboard (2013, San Francisco, $11.2M, Series
A)
Online courses and online workshops along with one-on-one
mentorship from industry experts
Continued Learning Notable Portfolio
[Soonicorn] AltSchool (2013, San Francisco, $137M, Series B)
Tech-enabled chain of micro-schools focussing on Social and Emotional
Learning
[Soonicorn] Varsity Tutors (2007, St. Louis, $107M, Series C)
Tutoring for test preparation
[Soonicorn] Wonder Workshop (2012, San Mateo, $78.3M,
Series C)
Dash and Dot, teaching basics of robotics to kids through play
[Soonicorn] BrightBytes (2012, San Francisco, $51.5M, Series C)
Data analytics platform for educational institutions
[Soonicorn] Schoola (2012, San Francisco, $44.5M, Series C)
A donation based crowdfunding portal for school programs
[Soonicorn] MasteryConnect (2009, Salt Lake City, $33.8M,
Series C)
K-12 cloud based student's assessment platform
[Minicorn] ClassDojo (2011, San Francisco, $31.1M, Series B)
Behaviour feedback platform used by teachers and students
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Greg Mauro
Co-Founder &
Managing Partner
Rob Hutter
Co-Founder &
Managing Partner
Geographical Spread Stage of Entry
Jan 2019
Coursera Intros SAS Programming Specialization, Campus
Technology
Dec 2018
Coursera Says Machine Learning Most Subscribed by
Indians in 2018, New Delhi Television
Nov 2018
Coursera set to train professionals on AWS services,
Indiatimes
Oct 2018
Brightline Initiative Announces the Launch of a New
Online Learning Course in Collaboration with Coursera,
Business Wire
Sep 2018
Global coding community SoloLearn rallies $5.6 mln, PE
Hub
Aug 2018
Global Massive Open Online Course Market 2018-
Instructure, Inc, Coursera, Inc, truthweek.com
Jul 2018
Coursera now offers Master of Computer and IT in
association with University of Pennsylvania, Gadgets Now
Jul 2018
Coursera Adds A/B Testing to MOOC Platform, Campus
Technology
Jun 2018
Google Cloud sees increasing adoption in retail and media
in India, Indiatimes
General Assembly
Acq by Adecco Group - Apr
2018
Bloc
(2011, San Francisco, $8.5M)
Acq by Thinkful - Apr 2018
Chromatik
(2010, Santa Monica, $7.7M)
2
1
2
1
2
2
2
1
2013 2014 2015 2016 2017 2018
Follow On New Investments
4
1
2
1
7
Undisclosed
Series C+
Series B
Series A
Seed14
1
-
-
-
US
Europe

Rethink
84
Continued Learning > Investors > Rethink
Investments
[Editor's Pick] Flocabulary (2004, Brooklyn, $1.5M, Seed)
Educational musical videos
[Editor's Pick] Vidcode (2014, New York City, $1.5M, Seed)
Coding platform for schools
[Soonicorn] EverFi (2008, Washington D.C., $252M, Series D)
Platform for teaching and certification programs on literacy and
critical skills
[Soonicorn] Civitas Learning (2011, Austin, $88.9M, Series D)
Predictive analytics platform for personalised education advice
[Soonicorn] Degreed (2012, San Francisco, $85.6M, Series C)
e-Portfolio assessment
[Soonicorn] BrightBytes (2012, San Francisco, $51.5M, Series C)
Data analytics platform for educational institutions
[Soonicorn] Classy (2006, San Diego, $48M, Series C)
Fundraising platform service provider for non-profit organizations.
[Soonicorn] Voxy (2010, New York City, $39M, Series B)
English language learning through online courses and tutoring
[Minicorn] Ellevest (2014, New York City, $55.6M, Series B)
Women focused automated investment platform.
[Minicorn] Ellevation (2011, Boston, $41.3M, Series B)
B2B assessment platform for english language teachers
[Minicorn] Rethink (2007, New York City, $16.8M, Series C)
Web-based educational and personalized behavior therapy to children
with autism
[Minicorn] Abl Schools (2015, San Francisco, $12M, Series A)
School operations software for managing time and resources
Top Exits Recent News on Fund & Portfolio
Dec 2018
Pluralsight Helps ICS, Inc. Develop Technology Skills and
Win New Business, GlobeNewswire
Dec 2018
Pluralsight One Computer Science Courses Approved as
Recommended Coursework for Utah Teachers by Utah
State Board of Education, GlobeNewswire
Nov 2018
Pluralsight Named a Fastest Growing Company on
Deloitte’s 2018 Technology Fast 500, GlobeNewswire
Nov 2018
US tech company to increase Dublin headcount by up to
140 in a year, The Irish Times
Nov 2018
Pluralsight Named 2018 Top Workplace, Aaron Skonnard
Recognized for His Leadership by The Salt Lake Tribune,
GlobeNewswire
Nov 2018
Pluralsight Named to MountainWest Capital Network's
2018 Utah 100, GlobeNewswire
Oct 2018
Pluralsight Strengthens Board of Directors with
Appointments of Former Citigroup SVP Leah Johnson and
Google VP Bonita Stewart, My Social Good News
Oct 2018
Pluralsight Announces Third Quarter 2018 Results,
GlobeNewswire
General Assembly
Acq by Adecco Group - Apr
2018
Pluralsight
(2004, Cedar Valley, $239M)
IPO - May 2018
11 1
2
2013 2014 2015 2016 2017 2018
2
1
-
-
3
Undisclosed
Series C+
Series B
Series A
Seed6
-
-
-
-
US

Andreessen Horowitz
85
Continued Learning > Investors > Andreessen Horowitz
People
Investments
[Unicorn] Udacity (2011, Mountain View, $160M, Series D)
Professional development "nanodegree" courses provider
[Editor's Pick] Benchling (2012, San Francisco, $27.4M, Series B)
Cloud-based tools for biotech research
[Unicorn] Lyft (2012, San Francisco, $5.1B, Series I)
On-Demand Taxi
[Unicorn] Airbnb (2008, San Francisco, $3.4B, Series F)
Marketplace for vacation rental accommodations
[Unicorn] Instacart (2012, San Francisco, $2.8B, Series G)
Marketplace for same-day grocery delivery
[Unicorn] Magic Leap (2011, Miami, $2.4B, Series D)
Head-mounted virtual retinal display to view augmented reality
[Unicorn] Facebook (2004, Menlo Park, $2.3B, Public)
Social networking site
[Unicorn] Pinterest (2009, San Francisco, $1.5B, Series G)
Visual social bookmarking service
[Unicorn] Slack (2009, San Francisco, $1.3B, Series H)
Real-time messaging, archiving and search for enterprise teams.
[Unicorn] Groupon (2008, Chicago, $1.1B, Public)
Daily deals website
[Unicorn] Opendoor (2014, San Francisco, $1B, Series F)
Residential re-selling solution provider.
[Unicorn] Tanium (2007, Berkeley, $800M, Series G)
Enterprise endpoint security and management solution
[Unicorn] Coinbase (2012, San Francisco, $764M, Series E)
Digital currency exchange & wallet provider
Top Exits
Marc
Andreessen
Co-Founder & General
Partner
Ben Horowitz
Co-Founder & General
Partner
Nov 2018
WorldQuant and Udacity Hiring Partnership Brings New
Career Opportunities to Global Talent, AIThority
Nov 2018
Udacity cuts 125 employees as part of global
restructuring plan, VentureBeat
Nov 2018
TSSC Signed MoU with Udacity India to Drive Skill
Development, Mobility India
Nov 2018
KPIT Tech & Udacity forge partnership for upskilling
talent in vehicle engg., Business Standard
Nov 2018
The new Digital Freelancer Nanodegree program
launched, AMEinfo
Oct 2018
Vishal Makhijani steps down as chief executive of Udacity,
TechCrunch
Oct 2018
Udacity collaborates with Chronicle for the launch of its
Cybersecurity Nanodegree program, Dataquest
Oct 2018
Partnership to bring Silicon Valley learning to Australia,
Electronic Specifier
Sep 2018
Online education unicorn Udacity has quietly laid off 5%
of staff — at least 25 people — since August, TechCrunch
None
1 1 1
1 1 1
2013 2014 2015 2016 2017 2018
1
-
2
-
2
Undisclosed
Series C+
Series B
Series A
Seed5
-
-
-
-
US

Fresco Capital
86
Continued Learning > Investors > Fresco Capital

Partech
87
Continued Learning > Investors > Partech

Floodgate Fund
88
Continued Learning > Investors > Floodgate Fund

Blu Venture Investors
89
Continued Learning > Investors > Blu Venture Investors

General Catalyst Partners
90
Continued Learning > Investors > General Catalyst Partners

The EdTech Fund
91
Continued Learning > Investors > The EdTech Fund

Harrison Metal
92
Continued Learning > Investors > Harrison Metal

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
93
Seed Stage
Early Stage
Late Stage

Harrison Metal
94
Continued Learning > Investors > Harrison Metal

Partech
95
Continued Learning > Investors > Partech

Arthur Ventures
96
Continued Learning > Investors > Arthur Ventures

Thrive Capital
97
Continued Learning > Investors > Thrive Capital

Spectrum Equity
98
Continued Learning > Investors > Spectrum Equity

Moneta Ventures
99
Continued Learning > Investors > Moneta Ventures

Learn Capital
100

Redpoint Ventures
101
Continued Learning > Investors > Redpoint Ventures

New Enterprise Associates
102
Continued Learning > Investors > New Enterprise Associates

Andreessen Horowitz
103
Continued Learning > Investors > Andreessen Horowitz

GSV Capital
104
Continued Learning > Investors > GSV Capital

Holtzbrinck Digital
105
Continued Learning > Investors > Holtzbrinck Digital

Kapor Capital
106
Continued Learning > Investors > Kapor Capital

Social Capital
107
Continued Learning > Investors > Social Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
108
Seed Stage
Early Stage
Late Stage

Goldman Sachs Investment Partners
109
Continued Learning > Investors > Goldman Sachs Investment Partners

IVP
110
Continued Learning > Investors > IVP

Naspers
111
Continued Learning > Investors > Naspers

GSV AcceleraTE
112
Continued Learning > Investors > GSV AcceleraTE

Stripes Group
113
Continued Learning > Investors > Stripes Group

Learn Capital
114

GSV Capital
115
Continued Learning > Investors > GSV Capital

Rethink
116
Continued Learning > Investors > Rethink

Felicis Ventures
117
Continued Learning > Investors > Felicis Ventures

118
Continued Learning > Investors > Norwest Venture Partners

Comcast Ventures
119
Continued Learning > Investors > Comcast Ventures

GV
120
Continued Learning > Investors > GV

Javelin Venture Partners
121
Continued Learning > Investors > Javelin Venture Partners

122
Continued Learning > Investors > Burda Principal Investments

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
123
Incubators
Other Notable Investors
Debt Investors

Continued Learning > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in Continued Learning; Q0 2014 - Q3 2018
Index of Ecosystem Investors
INCUBATOR
500 Startups (24 Investments)
Techstars (13 Investments)
Y Combinator (12 Investments)
MassChallenge (11 Investments)
Plug and Play Tech Center (3 Investments)
NXTP Labs (3 Investments)
Startupbootcamp (3 Investments)
Start-Up Chile (2 Investments)
Startup Wise Guys (2 Investments)
Imagine K12 (2 Investments)
Dreamit
Incubate Fund
Bethnal Green Ventures
Capital Factory
CIIE
OTHER NOTABLE INVESTORS
Wayra (6 Investments)
Kima Ventures (5 Investments)
Google (3 Investments)
Great Oaks Venture Capital (3 Investments)
Accomplice (2 Investments)
New York Angels (2 Investments)
Liberty Media (2 Investments)
Baltimore Angels (2 Investments)
Bpifrance (2 Investments)
Angel Ventures (2 Investments)
FundersClub (2 Investments)
GSV Acceleration (2 Investments)
Lumina Foundation (2 Investments)
Montage Capital (2 Investments)
Alfred P. Sloan Foundation
DEBT INVESTORS
Western Technology Investment (4
Investments)
InnoVen Capital (2 Investments)
Silicon Valley Bank (2 Investments)
Connecticut Innovations
Enterprise Ventures
Idinvest Partners
Lighter Capital
Mercia Technologies
The North West Fund
TPG

500 Startups
125
Continued Learning > Investors > 500 Startups
People
Investments
[Soonicorn] Udemy (2010, San Francisco, $173M, Series D)
[Minicorn] Elevate (2010, San Francisco, $7.7M, Series A)
Brain training games
[Minicorn] EduKart (2011, Delhi, $2M, Acqui-Hired)
Web based education marketplace platform
[Editor's Pick] Springboard (2013, San Francisco, $11.2M, Series
A)
Online courses and online workshops along with one-on-one
mentorship from industry experts
[Editor's Pick] Platzi (2012, Bogota, $10.5M, Series A)
Online courses in web and app development
[Editor's Pick] Codementor (2013, Taipei, $1.8M, Seed)
Online mentor marketplace for 1-to-1 tutoring for programmers
[Editor's Pick] Apptuto for CFA Exam (2014, San Francisco,
$500k, Seed)
Gamified social learning app for CFA preparation
[Unicorn] Credit Karma (2007, San Francisco, $370M, Series D)
Aggregator of various consumer financial products.
[Unicorn] Intercom (2011, San Francisco, $241M, Series D)
Customer communication and Retention Platform
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Unicorn] Gitlab (2014, San Francisco, $166M, Series D)
Code collaboration tool
[Unicorn] Talkdesk (2011, San Francisco, $128M, Series B)
Browser based call center
Top Exits
Christine Tsai
CEO
Jul 2018
GlobalWebIndex Raises $40 Million in Series A Funding to
Accelerate Its Position as the Leading Provider of Digital
Consumer Insight Globally, Business Wire
Jun 2018
Udacity launches Blockchain Developer Nanodegree
Program, Know-how Information, ETtech, Newpaper24
Jun 2018
Udemy Expands Growing Photography Category with
Courses from Real-world Photography Experts,
GlobeNewswire
Apr 2018
Udemy Ranked #1 “Best Place to Work in the Bay Area”,
GlobeNewswire
Apr 2018
Udemy Taps Business Leaders to Expand Leadership
Course Category on The Platform, GlobeNewswire
Jan 2018
Udemy Expands European Headquarters in Dublin and
Adds New Jobs, GlobeNewswire
Jan 2018
Update -- Udemy for Business Unveils a New Learning
Plan Designed for Nonprofit Organizations,
GlobeNewswire
Dec 2017
Udemy for Business Unveils Team Plan, a New Learning
Product Designed Specifically for SMBs , GlobeNewswire
Chromatik
(2010, Santa Monica, $7.7M)
Forrst
(2009, Campbell, $205k)
3
2
2
5
2
2013 2014 2015 2016 2017 2018
11
-
-
3
17
Undisclosed
Series C+
Series B
Series A
Seed18
5
2
2
1
US
Latam
Colombia
India
Taiwan

Tracxn - Continued Learning Startup Landscape

Tracxn - Continued Learning Startup Landscape

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