Naspers, a South African multinational mass media company and the biggest publicly traded company by market value in Africa, has announced it has led a US$30 million Series C investment round in Codecademy, a US-based leader in digital skills education.
The investment, made through Naspers investment arm, Naspers Ventures, will help Codeacademy to get more hands on deck, and drive its product and global expansion plans.
Specifically, the fresh funds will allow it grow its team to accommodate further international growth, extend the capabilities of its innovative platform, build its mobile presence and develop additional course content to serve its users even better.
Launched in 2011, Codecademy is changing how education is delivered. The company helps millions of people around the globe obtain the skills they need to succeed in today’s fast-paced technology job marketplace.
The company turns people with little or no programming knowledge into coding experts without attending a traditional educational institution.
This method stands the company out from others and helps to create a networked approach to learning.
“Traditional universities are poorly equipped to meet the evolving demands of technology students and employers, and Codecademy fills an important and valuable gap in the market,” said Larry Illg, Naspers Ventures CEO, who has joined Codecademy’s Board of Directors.
He added, “The quality of the Codecademy product and the team’s execution have enabled a global footprint today and positions it well for future expansion.”
Existing investors, including Union Square Ventures, Flybridge Capital Partners, Index Ventures and Sir Richard Branson contributed to the funding round.
Naspers Ventures was setup to find investment opportunities beyond Naspers traditional markets/segments but that are a strategic fit for it.