Online education platforms have become a necessity for many people to fill the gaps left by closed schools and universities during the COVID-19 pandemic. This has given a huge boost to education startups, many of which are raising money to capitalize on the opportunity. Udemy which provides a marketplace of video based courses across 65 languages, is reported to be rising up to $100 million in a Series F round of funding that would value the company at up to $3.32 billion. The company offers courses to individual and business users with total course enrollments reaching approximately 400 million to date.
Last week Udacity, an online course provider that popularized the idea of "nanodegrees" in subjects like artificial intelligence and cloud computing secured $75 million in the form of a debt facility which will be used to continue developing its platform and to target more business customers. In October, Kahoot, a gamified e learning platform, announced a $215 million funding round from SoftBank while in September Outschool a provider of small group online classes raised $45 million in a Series B funding round led by Lightspeed Venture Partners.
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