This investment comes three weeks after Naspers invested US$15 million in Brainly, a social learning network, and exactly a year that Udemy closed a US$65 million Series D financing round led by Stripes Group.
Udemy will use this fresh funds to continue its strong international drive, including growing its localized course content library and product offerings to meet the global demand for online learning.
“With two-thirds of our students and over half of our instructors located outside the U.S., Udemy has made huge strides in opening access to learning and teaching opportunities worldwide, yet we are just at the beginning of realizing the full potential of online learning,” said Dennis Yang, CEO of Udemy.
He added, “We’ve reached a critical juncture in our global economy where everyone needs to embrace lifelong learning and take initiative for upskilling themselves. That’s why I’m thrilled to be partnering with Naspers to invigorate our efforts to bring Udemy to even more learners and experts around the world.”
Founded in 2010, Udemy aims to help anyone build the life they imagine through online learning. Over the past year, the company has experienced significant growth, particularly among its international business.
With more than 40,000 courses now available in 80 different languages, Udemy offers the largest selection of online course content.
The investment was made through Naspers Ventures division, whose remit is to find investment opportunities beyond its traditional markets/segments. Larry Illg, CEO of Naspers Ventures, will join Udemy’s Board of Directors.
“Naspers is consistently looking to invest in markets where technology can make a significant impact. Udemy has built a technology platform that will transform education on a global scale and we are eager to help them with further expansion,” said Larry.
One of the largest technology investors in the world, Naspers currently operates in more than 130 countries and markets with long-term growth potential.
Naspers has invested in countless number of companies that are doing great and used by over 1.3 billion people worldwide. One of them is Tencent, the biggest Internet company in China, which is currently valued at HK$1.6 trillion (US$206 billion).
Having said that, Udemy should simply just seat back, relax and listen to Justin Timberlake’s ‘Can’t stop this feeling’ (it should be on repeat of course) because Naspers has the local expertise to help it build its growing international presence.