April 28, 2021 · 5 min read
OpenClassrooms Secures $80 Million in Series C Funding
OpenClassrooms, a mission-driven category leader in online education-to-employment programs announces today it has raised $80 million in a Series C round led by Lumos Capital Group, a leading EdTech investor.
Other investors include GSV, the Chan Zuckerberg Initiative (CZI) and Salesforce Ventures. Existing investors General Atlantic and Bpifrance also extended their commitment to OpenClassrooms, alongside the company’s CEO Pierre Dubuc and other shareholders.
The COVID-19 pandemic has accelerated a global shift towards online education; with its unique range of high-quality reskilling and upskilling programs, OpenClassrooms is well positioned to answer the growing demand for quality professional education, serving individuals and an increasing number of companies and public authorities. OpenClassrooms also offers innovative solutions to train the right talent and foster diversity, from education-as-a-benefit programs to apprenticeships or stackable competencies.
As a mission-driven, BCorp-certified entity, OpenClassrooms is committed to executing its mission of making education accessible at scale; in pursuit of that mission the company is on a high-growth trajectory, with revenues for the first quarter of 2021 up 140% year-on-year, and bookings up 250%.
Founded in 2013 by Pierre Dubuc and Mathieu Nebra, the Paris-based online education platform offers 54 competency-based training programs with individual mentorship, leading up to nationally accredited bachelor’s and master’s level diplomas, in fields with high demand such as web and mobile development, UX design, data science, digital marketing or instructional design. OpenClassrooms currently has 300 team members and offices in Paris, London and NYC.
The additional capital investment will support OpenClassrooms as it further establishes its leadership in affordable digital education-to-employment programs. Victor Hu, Co-founder and Managing Partner of Lumos Capital Group will join the OpenClassrooms board of directors.
Pierre Dubuc, CEO and Co-founder of OpenClassrooms, said regarding this Series C funding round:
“We are thrilled to welcome Lumos, GSV, CZI and Salesforce Ventures as new shareholders. The additional capital we’re raising today will allow OpenClassrooms to increase its impact by allowing even more individuals to access affordable upskilling and reskilling programs, at a global level.
Our new investors are much more than just financial powerhouses, they’re first and foremost partners with deep knowledge of education, human capital development or impact investing. We’re looking forward to their advice and support on our hyper-growth journey, making education accessible to everyone, everywhere.”
Victor Hu, Co-founder and Managing Partner of Lumos Capital Group said:
“OpenClassrooms has created a powerful, global platform for delivering educational outcomes at scale. They have already created transformational opportunities for thousands of individuals and businesses around the world with their industry-leading solutions. We are proud to partner with them in their mission to make education more accessible for everyone.”
Vivian Wu, Managing Partner, Ventures, Chan Zuckerberg Initiative, said:
“Through our impact investments in education, the Chan Zuckerberg Initiative invests in companies transforming outcomes at scale while improving access and affordability. We’re excited to support OpenClassrooms in its mission to make education accessible to diverse learners across the world, and are especially excited that its creative partnerships with employers and public institutions allow more learners to develop in-demand skills for the jobs of tomorrow.”
Luben Pampoulov, Co-founder and Partner at GSV said:
“GSV is proud to align with the great team at OpenClassrooms via a GSV managed co-investment fund. With the adoption of work automation and Artificial Intelligence, corporations around the World have rising needs to up-skill and re-skill employees. OpenClassrooms’ outcome-driven approach helps individuals learn the skills of tomorrow and prepares Companies for the future.”
Alex Kayyal, Partner and Head of International at Salesforce Ventures, added:
“We all have a responsibility to empower the current and future workforce to gain the skills needed for the jobs of today and tomorrow. OpenClassrooms’s platform approach is helping to scale and transform digital education and we’re proud to support them on that mission.”
Chris Caulkin, Managing Director and Head of Technology for EMEA at General Atlantic and OpenClassrooms Board member said:
“We are excited to continue to support Pierre, Mathieu and their team in seeking to build the future of education while driving a positive social impact. Over the last three years, OpenClassrooms has placed thousands of students in the workforce, built out re-skilling and upskilling programmes for corporations and enabled social mobility in the wider population by partnering with public authorities.”
Véronique Jacq, Head of the Digital Ventures team at Bpifrance and OpenClassrooms Board member, observes:
“As the shift towards online education is accelerating, we believe that OpenClassrooms can play a leading role in expanding professional education through its unique offering for both individuals and companies. We are particularly delighted to grant renewed support to OpenClassrooms, making education and job placement accessible to all.”
About the Chan Zuckerberg Initiative
The Chan Zuckerberg Initiative was founded in 2015 to help solve some of society’s toughest challenges — from eradicating disease and improving education, to addressing the needs of our local communities. Our mission is to build a more inclusive, just, and healthy future for everyone. For more information, please visit chanzuckerberg.com.