Coursera, a Mountain View, CA-based massive open online course (MOOC) platform, raises an additional USD 20 million in funding to its Series B. This would bring the amount the round had raised in total to USD 63 million.
While she declined to disclose Coursera's total valuation, co-chief executive officer Daphne Koller bragged about the success of its funding round, "We didn't sell a huge part of the company for it."
The backers of this round were three of the universities that offered courses on Coursera, as well as existing investors GSV Capital and Learn Capital. With the amount raised, Coursera intends to use the funds to expand partnerships with universities, as well as develop its internal capacity by building out its product and recruiting teams.
Coursera offers free online access to classes from universities as well as institutions. Its platform offers video lectures, interactive content and a global community which currently includes more than 100 institutional partners in 19 countries, 700 professors, and 5.5 million learners worldwide.
"Solving the education problem is a significant challenge and one that requires concerted effort," Koller said of the competition.
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