Upskilling platform Degreed announced it has raised $153 million in Series D funding round co-led by Sapphire Ventures and Riverwood Capital, which values the company at $1.4 billion, according its statement.
Existing investors that participated in the round include Signal Peak Ventures, Owl Ventures, GSV Ventures and AllianceBernstein Holding LP.
The funding will be used to accelerate product development, enhance data infrastructure, fuel global expansion, and pursue strategic acquisitions. Technology enhancements will focus on upgrading Degreed’s reporting and analytics, ensuring best in class security, and enhancing integrations that take Degreed deeper into users’ daily workflow.
Founded in 2012, Degreed is a workforce upskilling platform headquartered in Pleasanton, California, with additional offices in Salt Lake City, New York, London, Amsterdam, and Brisbane.
Dan Levin, former COO of Box (NYSE:BOX), will succeed Chris McCarthy as CEO of Degreed. McCarthy will remain in a strategic advisory capacity and sit on Degreed’s Board of Directors.