Codecademy Raises $30m Led by Naspers to Fuel Further Expansion
July 12 2016 - 9:00AM
Business Wire
New countries, courses and languages will
significantly increase impact
Codecademy, the leader in digital skills education, today
announced the closing of a $30 million Series C investment led by
Naspers through its Naspers Ventures division. Also announced
today, Larry Illg, CEO of Naspers Ventures, has joined Codecademy’s
Board of Directors. Existing investors, including Union Square
Ventures, Flybridge Capital Partners, Index Ventures and Sir
Richard Branson contributed to the round.
Codecademy will utilize the new capital to drive the company’s
product, team and global expansion plans. Since the company
launched in 2011, tens of millions of people have taken its courses
in nearly every country. The new funds will allow the company to
grow its team to accommodate further international growth, extend
the capabilities of its innovative platform, build its mobile
presence and develop additional course content to even better serve
its users.
In today’s highly digital world, Codecademy is redefining how
education is delivered. The company helps millions of people around
the globe obtain the skills they need to succeed in the fast-paced
technology job marketplace. Codecademy provides a path for learners
to become coding experts without attending a traditional
educational institution, which could be a game changer in
developing countries. Codecademy’s platform is different from any
other learning experience. Learners discover concepts such as
HTML/CSS, Javascript/jQuery, Python, Ruby, PHP, and APIs
interactively by actually writing code and getting constant
feedback from peers, creating a networked approach to learning.
“Since we founded Codecademy in 2011, we have seen an explosion
of interest in learning to code as a key component of a 21st
century education,” said Zach Sims, CEO of Codecademy. “With
millions of monthly users, and more than 50 percent of those
outside the US, there is a great opportunity in partnering with
Naspers to expand our business to deliver a wider breadth of
courses in more languages and new geographies to create an
education that allows anyone to access economic opportunity.”
“Traditional universities are poorly equipped to meet the
evolving demands of technology students and employers, and
Codecademy fills an important and valuable gap in the market,” said
Larry Illg, Naspers Ventures CEO. “The quality of the Codecademy
product and the team’s execution have enabled a global footprint
today and positions it well for future expansion.”
Naspers has made investments in internet companies, including
Tencent and Flipkart, that 1.3 billion people worldwide already
use. The company provides its businesses with unmatched levels of
international support, including strong strategy expertise,
operating experience, and access to on-the-ground resources in key
expansion markets.
About Codecademy
Codecademy helps millions of learners around the world get the
skills they need to succeed in today’s digital world – all in a way
that’s fun, free, and accessible anywhere. Founded by Zach Sims and
Ryan Bubinski in 2011 to bridge the increasing gap between the
skills taught in schools and the skills required by the modern
workforce, Codecademy offers an entirely new, networked approach to
learning which allows users to interact with students across the
globe, build amazing projects, and apply their skills to improve
their lives.
About Naspers Ventures
Naspers Ventures partners with entrepreneurs to build leading
technology companies in high-growth markets. We identify companies
and founders with high potential and the ambition to scale globally
the right way, quickly impacting the communities where they
operate.
We provide tailored support to make them leaders in their chosen
markets. We bring the global reach, knowledge and resources of
Naspers, one of the largest technology investors in the world, to
help entrepreneurs build, grow and scale their businesses. With
in-depth experience in more than 130 markets and countries around
the world, we do what it takes to help our companies succeed.
Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ)
and has an ADR listing on the London Stock Exchange (LSE:NPSN). For
more information, please visit www.naspers.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160712005476/en/
Naspers VenturesJill Williams, 415-689-5027Communications
Partnerventures@naspers.com
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