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Codecademy, an online coding education platform, announced its Series D fundraise of $40 million led by Owl Ventures and with participation from Prosus and Union Square Ventures.
The company will use the capital to accelerate its DTC (direct to consumer) and B2B growth, including new products and learning solutions, expanded curriculum, and a greater footprint in growing global markets like India, according to its statement.
Since 2011, Codecademy has helped over 50 million learners from 190+ countries learn in-demand technical skills. The company said it has been cash-flow positive for over two years, and has consistently grown in new users and revenue.
In 2020, Codecademy saw its largest uptick in sign-ups and bookings yet, with over five million new users, 150k paid subscribers of Codecademy Pro, and 600 customers of Codecademy for Business.
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