Online education platform, Coursera has secured a whopping $49.5 million in Series C funding by Times Internet (TIL), New Enterprise Associates (NEA) and other investors. Existing investors Kleiner Perkins Caufield & Byers (KPCB) and International Finance Corporation (IFC) also participated in this round.
With this investment, Coursera plans to expand its operations, strategic and marketing support in India, along with helping students and professionals in the discovery of the online courses company.
Furthermore, this strategic partnership is part of the Times Global Partner initiative of Times Internet, that works with leading digital firms such as Huffington Post, Business Insider, Ad Age, Gawker Media and Uber to assist their growth in India.
In the next few months Coursera expects the second closing of this latest round funding round. This will take the total Series C funding to $60 million.
On this occasion Satyan Gajwani, CEO, Times Internet said,
“Coursera is the gold standard for the emerging wave of education technology companies. We are excited to bring Times Internet’s growth capabilities behind such a strong product and bring high quality affordable digital education to millions of Indians”
Coursera is an educational technology company founded in 2012 that provides massive online open courses (MOOCs). Coursera works with various universities around the world to make some of their courses available online. The websites boasts a heavy user base of around 11.8 million users. Currently Coursera has more than 1000 courses from 119 institutions and 13 million users from 190 countries
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