Company to Leverage Capital to Advance Mission to Make All Professional and Lifelong Learning Matter
SAN FRANCISCO – August 16, 2016 – Degreed, the education technology company that has created an engaging, beautiful and intuitive way to empower and recognize all forms of professional and lifelong learning, today announced that it has completed its Series B funding with a $3.5M investment from GSV Acceleration, which focuses on the most dynamic companies leveraging technology to enable people and organizations to optimize their potential.
Combined with its previous investment from Jump Capital, Signal Peak Ventures and Rethink Education, Degreed closes out its Series B round with a total of $25 million. The GSV Acceleration team, led by Deborah Quazzo, is a leading investor in the education and talent development technology space. The additional support from GSV Acceleration will help fuel Degreed’s growth and enhancement of its comprehensive learning and skills verification platform.
“Degreed is transforming how people learn and how organizations train and develop their people; we are thrilled to work with the GSV Acceleration team, who share this goal and can provide the resources to drive our mission forward,” said David Blake, CEO and co-founder of Degreed. “Deborah was one of the first angel investors in Degreed and is an invaluable member of our board. We are pleased that she and her team continue to recognize the promise of our company and are eager to continue supporting us through GSV Acceleration.”
GSV Acceleration’s investment is validation of Degreed’s rapid growth. In the second quarter of 2016 alone, the company added more than one million new licensed users at a variety of Fortune 1,000 and mid-market organizations, including Archer Daniels Midland, Caterpillar and EMC. The company also made several key executive appointments, including new Chief Learning Officer, Kelly Palmer, who joined from LinkedIn, and Chief Sales Officer, Tim Ellinger, who joined from Pluralsight.
Moreover, Degreed recently introduced its first native mobile app, enabling users to discover, track, utilize and share learning from any source, while showcasing their lifelong and professional learning. The company has also expanded significantly, having recently made its first acquisition, of European-based learning company, Gibbon. In addition, Degreed has grown its employee base internationally, welcoming new hires in Asia, Europe and Canada.
“Degreed’s rapid growth and ongoing success highlight its ability to fill a market void for educational solutions that address the many different types of learning that occur in today’s world,” said Quazzo. “As more business and individuals seek new and meaningful ways to advance how they learn and develop professionally, the opportunity in front of Degreed is enormous. I am excited to further support the company and help advance its mission of connecting more people with the educational resources to enhance their expertise and value to their organizations.”
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