Golden Recursion Inc. logoGolden Recursion Inc. logo
Advanced Search
Coursera

Coursera

Coursera is an online education technology company founded in 2012 by Daphne Koller.

Coursera Inc. is a U.S.-based massive open online course provider founded in 2012 by Stanford University computer science professors Andrew Ng and Daphne Koller. Coursera works with universities and other organizations to offer online courses, certifications, and degrees in a variety of subjects. In 2021 it was estimated that about 150 universities offered more than 4,000 courses through Coursera.

History

Coursera was founded in 2012 by Stanford University computer science professors Andrew Ng and Daphne Koller. Ng and Koller started offering their Stanford courses online in fall 2011, and soon after left Stanford to launch Coursera. Princeton, Stanford, the University of Michigan and the University of Pennsylvania were the first universities to offer content on the platform. Offerings have since expanded to include Specializations – collections of courses that build skills in a specific subject – as well as degrees and a workforce development product for businesses and government organizations.

In 2014 Coursera received both the Webby Winner (Websites and Mobile Sites Education 2014) and the People's Voice Winner (Websites and Mobile Sites Education) awards.

Finances

Coursera's revenues rose from $184 million in 2019 to $294 million in 2020. To date, Coursera has not made a profit. The company lost $66 million in 2020 as they ramped up marketing and advertising.

For the first quarter in 2021, Coursera reported revenue of $88.4 million, up 64% from a year earlier, with a net loss of $18.7 million, or $13.4 million on a non-GAAP basis. Coursera said consumer revenue was $51.9 million, up 61%, while enterprise revenue was $24.5 million, up 63%, and degree programs had revenue of $12 million, up 81%.

For the third quarter in 2021, Coursera reported revenue of $109.9 million, up 33% from $82.7 million a year ago. Gross profit was $67.7 million or 61.6% of revenue. Net loss was $(32.5) million or (29.5)% of revenue.

Funding

The startup raised an initial $16 million funding round backed by Kleiner Perkins Caufield & Byers and New Enterprise Associates. In 2013, GSV led the Series B investment, which totaled $63 million. In 2015, NEA led the Series C round of venture funding, which totaled more than $60 million. In 2017, the company raised $64 million from its existing investors in Series D round of funding. In 2019, the company raised $103 million in Series E round of funding from the SEEK Group, Future Fund and NEA. The company reached valuation of $1 billion+ in 2019. In July 2020, the company announced it had raised $130 million in Series F funding and updating its valuation to $2.5 billion.

Business model

In September 2013, it announced it had earned $1 million in revenue through the sale of verified certificates that authenticate successful course completion. Coursera first rolled out a series of fee-based course options, which included verified credentials for completion, in 2013. As of October 2015, the company had raised a total of $146.1 million in venture capital.

In January 2016, Coursera rolled out fees to earn grades and assessment for "the vast majority of courses that are part of Specializations." The company offers Financial Aid to people who demonstrate a need. In July 2016, the company launched an enterprise product called Coursera for Business. TechCrunch notes that the company, "opened itself to additional revenues from the lucrative corporate e-learning market, which some reports suggest was worth $12 billion in the US alone." Coursera for Business customers include L’Oréal, Boston Consulting Group, and Axis Bank. In October 2016, Coursera launched a monthly subscription model for Specializations along with a 1-week free trial. The company has said subscription costs will vary, "depending on the topic area."

In January 2017, the company launched Coursera for Governments & Nonprofits. Coursera has announced partnerships with the Institute for Veterans & Military Families (IVMF) in the United States and entities in Egypt, Mongolia, Singapore, Malaysia, Pakistan, and Kazakhstan. In June 2017, Jeff Maggioncalda became the CEO of Coursera.

In March 2018, Coursera launched six fully online degree courses including the bachelor's and master's qualifications in various domains.

In March 2021, Coursera filed for an IPO.[33] The nine-year-old company brought in roughly $293 million in revenue for the fiscal year ended December 31 — a 59% growth rate from 2019, according to the filing. Net losses widened by roughly $20 million year over year, reaching $66.8 million in 2020. Coursera spent $107 million on marketing in 2020.

Timeline

October 23, 2020
Coursera raises a $1,100,000 series F round from Global Secure Invest.
July 17, 2020
Coursera raises a $130,000,000 series F round from G Squared, Kleiner Perkins Caufield & Byers, Learn Capital, New Enterprise Associates and SEEK.
April 25, 2019
$103 million Series E round of funding

The round was led by Seek Group, with participation from Future Fund and NEA.

April 2019
Coursera raises a $103,000,000 series E round from Future Fund, New Enterprise Associates and SEEK.
June 2017
Coursera raises a $64,000,000 series D round from Kleiner Perkins Caufield & Byers, Learn Capital, New Enterprise Associates and the Lampert Foundation.
August 25, 2015
Coursera raises a $49,500,000 series C round from Kleiner Perkins Caufield & Byers, New Enterprise Associates and Times Internet.
November 24, 2013
Coursera raises a $20,000,000 series B round from IFC Venture Capital and Learn Capital.
July 10, 2013
Coursera raises a $43,000,000 series B round from International Finance Corporation, Learn Capital and Yuri Milner.
July 17, 2012
Coursera raises a $6,000,000 series A round from Kleiner Perkins Caufield & Byers and New Enterprise Associates.

Funding Rounds

Patents

Further Resources

Title
Author
Link
Type
Date

News

Title
Author
Date
Publisher
Description
Neha Alawadhi
June 13, 2021
@bsindia
Indias overall rank in the report was 67 globally, with 38% proficiency
K16 Solutions
June 3, 2021
www.prnewswire.com:443
/PRNewswire/ -- K16 Solutions, the industry leader in EdTech for Learning Management System (LMS) course migration, course design, and course archiving, has...
Julia Pugachevsky
May 28, 2021
Business Insider
"Massive open online courses" -- or MOOCs -- are very popular and accessible forms of e-learning seen on platforms like edX and Coursera.
Brandon T. Harden
May 26, 2021
Business Insider
Coursera's focus is on "people who maybe don't have a college degree but want to get into a digital career," CEO Jeff Maggioncalda said.
Mara Leighton
May 25, 2021
Business Insider
E-learning platform Coursera offers online graduate degree programs from schools like UPenn, Imperial College London, and the University of Michigan.
SHOW MORE

References

Golden logo
By using this site, you agree to our Terms & Conditions.