Degreed raises $42 million in Series C Funding, announces new CEO


06 March 2018, India:

Ed-Tech firm Degreed has raised $42 million in Series C funding round. The funding round was led by Owl Ventures and Jump Capital. Founders Circle Capital and existing investors GSV Acceleration Fund and Signal Peak Ventures, also participated in the funding round.

The company also appointed a new CEO. Chris McCarthy has been appointed as a new CEO. Degreed’s co-founder and former CEO Blake has taken on a new role as Executive Chairman.

David Blake, Degreed Executive Chairman said, “We are starting 2018 with incredible momentum, and we are excited to work with some of the world’s most innovative learning leaders.”

Blake added, “Chris and I couldn’t be more excited for the next chapter of Degreed’s growth—helping our clients’ CEOs and employees to invent and adopt new, data-driven ways to upskill, certify, and unlock their next opportunities.”

Degreed will use the fresh capital for commercialization of its new product – Skill Certification. The capital will also be used to expand Degreed’s global sales force, and further grow its design, engineering and client service teams.

Chris McCarthy, Degreed CEO said, “Keeping people’s skills in sync with fast-changing markets is the biggest challenge of our time. That’s why Degreed exists. We believe there’s a better, smarter way to help everyone keep their skills sharp for whatever’s next, to measure their progress as they grow, and to communicate their readiness—both to current and future employers.”

Sarice Plate, Xilinx Senior Director of Global Talent Acquisition and Development said, “Our people are our competitive advantage and Degreed is further optimizing the way that we address current skills and development needs in the short term, and how that will translate to performance as part of out longer-term strategy.”

Sarice added, “Our learners are no longer having to guess at what’s quality or what might benefit them.”

Degreed was founded by David Blake, David Wiley, Eric Sharp in 2012. It is headquartered in San Francisco, with additional offices in Salt Lake City and Amsterdam. It connects all the resources people use to learn and grow, including corporate learning systems and millions of courses, videos, books, articles, podcasts, and subject experts from thousands of sources.

(Image – TechCrunch)