Udacity Raises $35M, To Offer ‘Nanodegrees’

Udacity has closed a financing round of $35 million. The investment was led by Drive Capital. Other participants in the round include Bertelsmann in Germany, Recruit in Japan, and Valor Capital in Brazil, as well as Cox Enterprises. Andreessen Horowitz and Charles River Ventures with Peter Levine and George Zachary complete the round. Mark Kvamme, founder of Drive Capital, is joining the Udacity board.

Udacity says the new investment will be used to double down on the company’s work with nanodegrees, a new type of credential recognized by partner employers like Google or Facebook. Udacity is opening its first nanodegree, built with AT&T, to an initial group of students, with enrollment options for more students coming soon.

Udacity currently has close to three million enrollments from 119 countries.

[Image courtesy: Udacity]

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