Skillshare Raises $66 Million in Series D Funding, Led by OMERS Growth Equity
Leading Online Learning Platform Will Expand Access to Creative Courses Globally
Skillshare—the world’s largest online learning community for creativity—announced a funding round of $66 million led by OMERS Growth Equity. With more than 12 million registered members, 8,000 teachers, and over 30,000 video-based classes in a wide range of creative disciplines from graphic design to photography to painting and illustration to interior design, Skillshare has experienced a year of unprecedented growth. To date, Skillshare has raised $42 million in capital from Union Square Ventures, Amasia, Burda Principal Investments and Spero Ventures, who all participated in this round. Citigroup served as exclusive financial advisor to Skillshare.
HR Technology News: Avitecture Aids Company’s Reopening with Contactless Temperature Scanners
Skillshare’s funding comes on the heels of a brand pivot in early 2020 to focus on the creative community. With roughly 75 percent of Americans participating in a creative hobby and an industry valued at $2.25 trillion, Skillshare focused its resources on meeting the creative needs of everyone—whether for personal or professional purposes—and the shift has resonated: new member sign-ups have tripled and existing members are watching three times the number of lessons since the company repositioned.
In response to a surge in international demand, the funding will primarily be used to create a localized experience for international students, while continuing to expand domestically, and grow Skillshare’s enterprise offering. The funding will also create more opportunities for Skillshare’s teachers. Skillshare will invest in tools that increase engagement between students and teachers, expand teachers’ audiences through dedicated marketing efforts, and create new formats for teachers to earn revenue.
HR Technology News: TecHRseries Interview with Dr. Tommy Weir, Founder and CEO at enaible.io
“While the world faces an extended period of uncertainty, creativity will be at the heart of the global rebuild,” said CEO Matt Cooper. “Our shift as a business earlier this year has uniquely positioned us to meet that need and resulted in incredible growth, deeper user engagement and interest from new partners during a time where creativity is more important than ever. The impact of social distancing on our mental and emotional wellbeing is profound, and people today are in need of authentic human connection, supportive communities, and creative outlets. At the same time, during recessions and economic downturns, companies perform better because they invest in skills that allow room for ideas and innovation. Skillshare is meeting this demand for both personal and professional growth through creativity.”
HR Technology News: Paul Greensmith Joins SHL as Chief Financial Officer