Codecademy has raised 40 million to add new products and expand its curriculum for consumers and businesses
Coding has become a new form of literacy in an ever-increasing digital world. Proficiency in coding has significant societal and individual ramifications including the potential to improve educational equality, STEM interest, critical reasoning skills, and building an inclusive workforce. Codecademy is one of the pioneering online coding education platforms, launched in 2011. The company now offers a robust catalog of interactive courses for web development, programming and computer science, and data science that focuses on the most relevant and in-demand skills.
Codeacademy, the developer of an online learning platform that teaches coding, has raised $40 million to add new products and expand its curriculum for consumers and businesses.
The business, which helps students and employees learn how to code in an interactive environment, is currently bringing in $50 million in annual recurring revenue. That figure is on track with Codecademy’s normal growth trajectory, which has been doubling since 2018. The startup has still seen some areas of growth. It took Codecademy four years to reach their first 100,000 users; however, they added 50,000 more paying users in their fifth year alone.
What’s their business model?
Codecademy offers three main products — their free platform, Codecademy Pro, and Codecademy for Business. They originally launched as an entirely free platform, which is still used today by tens of millions of learners every year. In 2016, they introduced their first paid product, Codecademy Pro, which costs $40/month and includes full access to their catalog and interactive features, such as certificates, interview prep, real-world portfolio projects. This year, they reached 150k paid subscribers of Codecademy Pro.
In 2020, Codecademy made the leap into B2B with the launch of Codecademy for Business, which helps organizations train and upskill their employees at work. Codecademy for Business saw 350% growth in its first year, and will be a major area of growth for their following the round.
Codecademy said while investor interest in the company and the edtech category has been at an all-time high, it has been highly selective about raising capital. (Its last Series C round was in 2016.) The company said the opportunity to partner with Owl Ventures, the largest edtech-focused venture capital fund, drove its decision to take on additional capital.
While the startup wouldn’t disclose valuation, Codecademy’s growth feels mature and unicorn-like. The startup is diversifying revenue, adding offensive cash to its bank, and even not-so-subtly added a CFO from Chegg to its ranks. IPOs are in the air.
Codecademy Pro Student gives you the tools you need to discover and pursue your passions through programming! If you want to upgrade to Codecademy Subscription, then you just need to purchase cheap Codecademy Accounts at the secure marketplace Z2U.com, these accounts are filled with Codecademy Pro.
Codeacademy, the developer of an online learning platform that teaches coding, has raised $40 million to add new products and expand its curriculum for consumers and businesses.
The business, which helps students and employees learn how to code in an interactive environment, is currently bringing in $50 million in annual recurring revenue. That figure is on track with Codecademy’s normal growth trajectory, which has been doubling since 2018. The startup has still seen some areas of growth. It took Codecademy four years to reach their first 100,000 users; however, they added 50,000 more paying users in their fifth year alone.
Codecademy has been highly selective about raising capital, closing its last Series C round in 2016. While investor interest in the company and edtech category has been at an all-time high, it was the opportunity to partner with Owl Ventures, the largest edtech-focused venture capital fund, that drove Codecademy's decision to take on additional capital.
What’s their business model?
Codecademy offers three main products — their free platform, Codecademy Pro, and Codecademy for Business. They originally launched as an entirely free platform, which is still used today by tens of millions of learners every year. In 2016, they introduced their first paid product, Codecademy Pro, which costs $40/month and includes full access to their catalog and interactive features, such as certificates, interview prep, real-world portfolio projects. This year, they reached 150k paid subscribers of Codecademy Pro.
In 2020, Codecademy made the leap into B2B with the launch of Codecademy for Business, which helps organizations train and upskill their employees at work. Codecademy for Business saw 350% growth in its first year, and will be a major area of growth for their following the round.
Codecademy said while investor interest in the company and the edtech category has been at an all-time high, it has been highly selective about raising capital. (Its last Series C round was in 2016.) The company said the opportunity to partner with Owl Ventures, the largest edtech-focused venture capital fund, drove its decision to take on additional capital.
While the startup wouldn’t disclose valuation, Codecademy’s growth feels mature and unicorn-like. The startup is diversifying revenue, adding offensive cash to its bank, and even not-so-subtly added a CFO from Chegg to its ranks. IPOs are in the air.
Codecademy Pro Student gives you the tools you need to discover and pursue your passions through programming! If you want to upgrade to Codecademy Subscription, then you just need to purchase cheap Codecademy Accounts at the secure marketplace Z2U.com, these accounts are filled with Codecademy Pro.
