Online Learning Pioneer Picks Up $103M in Funding
It’s the first money Lynda has taken from the outside
By: Maureen O'Gara
Jan. 17, 2013 08:30 AM
Online learning company Lynda.com has gotten $103 million in funding from Accel Partners and equity investor Spectrum Equity. Meritech Capital Partners also participated.
It's the first money Lynda has taken from the outside and is meant to push the 17-year-old company into the international arena, which will mean localization, and add to its curriculum. It expects to scale its web and video platform.
Its video learning platform, available in monthly and annual subscriptions, teaches computer skills such as 3D and animation, audio, business, design, development, home computing, photography, video and web and interactive design to individuals as well as corporate, government, school and university accounts.
It claims more than half of the Fortune 100, all branches of the US military and all cabinet-level departments of the federal government.
It has upwards of 200 full-time staff and more than 140 teachers who earn royalties from its shared revenue model.
Heavy on Adobe, Microsoft and Apple it's got a library of 87,000 videos used by a reported two million people.
Last year the company earned more than $100 million in revenue, up from $70 million in 2011, and has been profitable since 1997. Its subscriptions start at $25 a month.
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