Coursera, a year-old company offering free online courses, has raised another $43 million in venture capital from investors active in both domestic and international education.
The new investors include the International Finance Corporation, the investment arm of the World Bank, and Laureate Education, an international higher education company with dozens of profit-making universities around the world, as well as GSV Capital, Learn Capital and Yuri Milner, an individual entrepreneur.
“We hope it’s enough money to get us to profitability,’’ said Daphne Koller, a co-founder of Coursera. “We haven’t really focused yet on when that might be.’’
Coursera, based in Mountain View, Calif., previously raised $22 million from Kleiner Perkins Caufield & Byers; New Enterprise Associates; and the University of Pennsylvania and California Institute of Technology, two of its university partners.
Over the next few months, Coursera plans to double its employees to about 100, and expand in several areas, including mobile apps and its Signature Track offerings, which charge a fee to students who want an identity-verified certificate upon successful completion of Coursera’s free courses. Since January, when the Signature Track option was first offered in five courses, Signature Track fees have produced more than $800,000, Ms. Koller said — and in the long run, she said, such revenue may be enough to make the company sustainable.
[ Full article available at The New York Times: http://bits.blogs.nytimes.com/2013/07/10/coursera-an-online-education-company-raises-another-43-million/ ]