Degreed Reaches a Valuation of $1.4 Billion After Raising $153 Million
IBL News | New York
Training and career development EdTech startup Degreed raised $153 million in Series D funding valuing it at $1.4 billion.
The investment, which was co-led by Sapphire Ventures and Riverwood Capital, will be used for global expansion and pursue acquisitions — the company said. Existing investors that participated in the round included Signal Peak Ventures, Owl Ventures, GSV Ventures, and AllianceBernstein Holding LP.
To date, Pleasanton, California–based Degreed has raised $335 million.
This big fundraising came along with the announcement of a new CEO: Dan Levin, former COO of Box will succeed Chris McCarthy — who steps down as CEO after eight years since the company was founded. He will remain seated on Degreed’s Board of Directors.
In 2020, Degreed more than doubled its active user base and increased its team by 50%, to 600 employees, across six continents.
Skill recognizes skill. We’re excited to announce a fresh $153 million in Series D funding to help us solidify Degreed as the most innovative upskilling platform. Thank you to our clients, existing investors, and new investors for the incredible support. https://t.co/sl85UKGbOH pic.twitter.com/NZxZbayMgr
— Degreed (@degreed) April 13, 2021