Udemy has raised $3 million Series A financing from Lightbank, a venture capital fund started by the co-founders of Groupon. Existing investors MHS Capital and 500 Startups also participated. ” The new funding will enable us to continue upon our vision of democratizing education by enabling anyone to teach and learn online.” says the co-founder Gagan Biyani.
Udemy is a website that enables anyone in the world to teach an online course, for free. Instructors such as New York Times bestseller Eric Ries to Python development guru Zed Shaw have posted online courses on Udemy. Courses can be free or paid, and instructors have created over 6,000 courses. Furthermore, instructors can charge for courses; in their first 10 months, Udemy has paid out over $500,000 to instructors and partners.