“This new financing will help us continue to scale and provide global workers with the skills they need to future-proof their careers,” Udacity CEO Gabriel Dalporto said in a statement on Thursday.
Udacity provides industry-created practitioner skills through a series of ‘Nanodegree’ courses and real-world projects in artificial intelligence, machine learning, data science, autonomous systems, cloud computing, cybersecurity, programming, digital marketing, and product management.
The company claims to collaborate with expert instructors and over 200 global industry partners including AT&T, Google, Facebook, Mercedes-Benz, and NVIDIA to power technical education. Apart from India, it also has operations in the UK, Egypt, Germany, India, and the United Arab Emirates.
Udacity has raised $238 million in funding to date from investors including Bertelsmann, Andreessen Horowitz, Charles River Ventures, Drive Capital and Hercules Capital.
The company said, its Q3 enterprise and government bookings rose by 120 per cent year-over-year, total bookings increased 80 per cent year-over-year.
“Given Udacity’s growth, focus on sustainable business practices, and expanding reach across multiple industries, we are excited to provide this investment. We look forward to working with the company to help them sustain their impressive global growth, and continued innovation in upskilling and reskilling,” said Steve Kuo, Senior Managing Director and Technology Group Head at Hercules Capital.