Outschool, a San Francisco-based operator of a marketplace for virtual classes and afterschool activities for kids, has closed a $75 million Series C led by Coatue Management and Tiger Global. Lightspeed, Union Square Ventures, and Reach Capital also participated.
The round brings the company's total funding to $130 million with a valuation of $1.3 billion.
Founded in 2015, Outschool is an online marketplace of classes that connect teachers and learners over real-time video in small groups. Outschool’s offerings include a wide variety of classes like cooking, games, piano performance, and language lessons.
The company expects to scale its team from 110 people to 200 by the end of the year especially for international growth. In 2020, Outschool launched in Canada, New Zealand, Australia and the U.K., so hiring will continue there and elsewhere.
It will also consider to acquire early-stage startups focused on direct-to-consumer learning in international markets.
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