Coursera raises $43M to spread free online classes – Silicon Valley Business Journal


Coursera co-founder Daphne Koller says she hopes to reach profitability with a new $43 million in funding.









Senior Technology Reporter- Silicon Valley Business Journal
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Coursera has booked another $43 million in funding just a year after launching its free online college courses.

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Co-founder Daphne Koller said she hopes that the fresh funding will help the Mountain View startup reach profitability but the focus now is on growth.

“We started with four university partners a year ago and now we have 83 on four continents,” she told me. “We have gotten this far on our original funding by being very, very frugal. Now we can be a little less frugal and really grow.”

Coursera’s first round of $22 million came last year from Kleiner Perkins Caufield & Byers, New Enterprise Associates, the University of Pennsylvania and California Institute of Technology.

The latest round includes the International Finance Corporation — the investment arm of the World Bank, aureate Education, GSV Capital, Learn Capital and Russian investor Yuri Milner.

Koller told me that Coursera plans to double its 50-employee staff in Mountain View in the next six to nine months.

“We will grow our development team to improve the platform and add staff in other areas, too,” she said. “We have 4 million students a week in our courses now and hope to get to 10 million in the not-too-distant future.”

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Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.