[Techtaffy Newsdesk]

Online education marketplace Udemy has completed $12 million Series B financing round led by Insight Venture Partners, with additional support from existing investors Lightbank, MHS Capital and Learn Capital, bringing Udemy’s total funding to $16 million.

The new capital will be used primarily for expanding the range and types of Udemy’s content offerings, as well as extending the content catalog across new platforms.

Launched in early 2010, Udemy offers some 5,000 courses – with over 400 courses added in October 2012 alone. The Series B investment is Udemy’s third round of financing, having previously raised $3 million in October 2011 and $1 million in August 2010.