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Coursera raises $64M from existing investors & The Lambert Foundation

Massive Open Online Courses (MOOCs) company, Coursera has raised $64 million in fresh funds from existing investors GSV Asset Management, New Enterprise Associates, Kleiner Perkins Caufield Byers, Learn Capital, along with a new investor The Lampert Foundation. The company said that till date it has raised total funds worth $210.3 million.

The funds raised will be used for ‘Coursera for Business‘, to expand its master’s degree portfolio and also to accelerate product innovations. Note that ‘Coursera for Business’ was started in September last year, to provide skill development courses and training for employees in different organisations. Axis Bank was its first customer from India. Globally around 50 companies use ‘Coursera for Business’.

Currently, Coursera  has 26 million registered users globally, partnership with 150 universities and more than 2000 courses.

Times Internet funding and partnership

In August 2015, Times Internet participated in Coursera’s Series C funding worth $49.5 million, following which it began providing operating, strategic and marketing support for Coursera and help Indian students and professionals find Coursera. At the time, Coursera had claimed it had 1 million registered users in the country.

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The Coursera partnership was under the Times Global Partner initiative of Times Internet, which has previously worked with Uber, Huffington Post, Business Insider, Ad Age (the launch here), Gawker Media and Ziff Davis among others to launch their Indian editions in the country.

Coursera in India

In October last year, Coursera said that it has 1.7 million users in India, making it their second largest market after the US. This was up from 1 million registered users in August 2015. As of May 2017, the number of registered users in India stands at 2 million. Coursera’s Chief Business Officer Nikhil Sinha had claimed that the company was adding 60,000 users every month from India, while its total global user base stood at 22 million.

Last month, the company appointed Raghav Gupta as country director for India. Kabir Chadha, who previously headed Coursera’s efforts in India, has moved to company headquarters in Mountain View. Gupta will be responsible for expanding the company’s workforce development initiatives and partnerships.

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