Udemy’s Corporate Learning Division Surpasses $100M In Annual Revenue
IBL News | New York
Udemy’s corporate learning division–Udemy for Business–claimed yesterday that its annual revenue reached $100 million annual recurring revenue (ARR) after a 90% surge in enrollments this year.
“This milestone is further proof of Udemy’s successful business model and rapid growth over the last five years,” said the company in a press statement.
Privately held and headquartered in San Francisco, Udemy hosts 57,000 instructors over 130,000 courses in 65 languages, while Udemy for Business curates 7,000 of the highest-rated courses.
Following a $50 million funding round at a $2 billion valuation earlier this year, Udemy serves 80% of Fortune 100 companies, according to its own data.
Udemy for Business has become Citi’s most used digital learning content library. Other customers of this division include Unilever, Eventbrite, PayPal, Apple, Survey Monkey, The World Bank, Okta, Unicef, Gamestop, Box, Air Force, Fandom, TIBCO Software, The Walt Disney Corp, Tata Inc., NTT, and Toyota Motors.
Peter Fox, Global Head of Digital Learning and Talent Technology at Citi said that “success in today’s rapidly changing world is impossible without an ongoing focus on continuous learning, up-skilling, and re-skilling”. “Continuous learning is not only essential to thrive in a changing technology landscape but also absolutely crucial for business competitiveness,” explained Anurag Seth, Vice President and Head of Talent Transformation, Crowdsourcing and Business Continuity, Wipro Limited.