Coursera Secures $43M in Funding From GSV Capital, IFC, Laureate Education Inc., Learn Capital and Yuri Milner to Expand Free,

Coursera Secures $43M in Funding From GSV Capital, IFC, Laureate Education 
Inc., Learn Capital and Yuri Milner to Expand Free, High
Quality Online Education 
Investment Will Allow Coursera to Scale Its Technology and Course
Offerings to Reach More People Worldwide 
MOUNTAIN VIEW, CA -- (Marketwired) -- 07/10/13 --  Coursera, a
leading massive open online course (MOOC) platform, today announced
that it has closed $43M in Series B funding from GSV Capital (NASDAQ:
GSVC); International Finance Corporation (IFC), the investment arm of
the World Bank; Laureate Education Inc., a company that operates high
quality, innovative institutions of higher education through its
global network; Learn Capital; and noted entrepreneur and venture
capitalist Yuri Milner. These investors, spanning the sectors of
Internet technology, education technology, and emerging world
markets, align with Coursera's efforts to build the technologies,
institutional networks, and global communities necessary to transform
global education access. Today's announcement follows last year's
$22M Series A funding, which included investment by Kleiner Perkins
Caufield & Byers and New Enterprise Associates, who will be
furthering their investment in this round, as well as University of
Pennsylvania and California Institute of Technology, two of
Coursera's University Partners. 
"Coursera is on the forefront of transforming the $4.5 trillion
dollar learning industry," said Michael Moe, Chairman and CEO of GSV
Capital. "In the global marketplace, knowledge is the currency that
provides people the opportunity to participate in the future.
Coursera is democratizing access to the best universities and
professors in the world." 
Since its launch in April of 2012, Coursera has experienced
remarkable growth and momentum toward its mission to expand quality
learning opportunities around the world for free. In the process, it
has launched a growing movement among universities and educators to
improve on-campus teaching by means of new technologies, as well as a
global thirst for educational resources that can work around
traditional boundaries, including accessibility and cost, to allow
students to learn without limits. Coursera currently works with 83
educational institutions across 4 continents, and offers around 400
free college-level courses to more than 4 million students from every
country in the world. 
As a social entrepreneurship company and leader in the rapidly
accelerating MOOC movement, Coursera is committed to offering free
courses to benefit its global audience of learners, while also
acknowledging the important role traditional institutions play in the
future of education. All universities offering courses on Coursera
receive a share of any revenue generated by Coursera's business
strategies, which include verified certificates through Signature
Track, course adoption by institutions and companies, and additional
upcoming programs.  
In the coming months, Coursera aims to double its employees and
expand its capacity to deliver the best online teaching and learning
experiences in a diverse, global environment. Particular areas of
focus will include both technological developments and strategic
expansions: 


 
--  A suite of mobile apps to enable students to learn anywhere, on the go
--  Opening up Coursera to the development of third party applications to
    allow the construction of a rich learning ecosystem for students and
    instructors
--  International expansion through localization, translation, and
    distribution partnerships
--  Development of collaborative learning environments, which will include
    group projects and private spaces for study groups
--  Advancement of techniques for flipped classroom and mastery-based
    learning
--  Continued expansion of university partnerships
--  Expanded Signature Track offerings

  
"Demand for education in developing countries is growing rapidly due to
population growth and the rising share of students seeking university
education," said Elena Sterlin, IFC Senior Manager for Health,
Education and Services. "Coursera's innovative model is a
breakthrough in delivering low-cost university and continuing
education to students through online courses."  
"We created Coursera in response to real and pressing demands for
quality, accessible education around the world, and today we are
proud to be part of a growing movement that is making a tangible
impact on this global challenge," said Andrew Ng, Co-Founder of
Coursera. "We've only just begun to realize the potential for
technology to transform the way professors teach, the way
universities and colleges deliver knowledge, and the way people
access education, and we look forward to expanding our team, our
partners, and our audiences to explore the many possibilities," added
Daphne Koller, Co-Founder of Coursera. 
About Coursera: 
 Coursera believes in connecting people to a great
education so that anyone around the world can learn without limits.
Coursera is on a mission to educate millions of people by offering
classes from top universities and institutions online for free.
Coursera's comprehensive education platform combines mastery-based
learning principles with video lectures, interactive content and a
global community of peers, offering students a unique online learning
experience. Coursera has partnered with top-tier universities and
institutions to provide courses across a broad range of disciplines,
including medicine, literature, history, computer science and the
arts, among others. Coursera is financially backed by California
Institute of Technology, GSV Capital, International Finance
Corporation, Kleiner Perkins Caufield & Byers, Laureate Education
Inc., Learn Capital, New Enterprise Associates, University of
Pennsylvania, and Yuri Milner. For more information, visit
Coursera.org. 
Contact Information:
Iz Conroy and Nikki Sequeira
coursera[at]launchsquad[dot]com
415-625-8555 
 
 
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