US Edtech Brings in $122M in June

US Edtech Brings in $122M in June

KA’CHING: US edtech raised $122M in June 2016, according to analysis by EdSurge. The funding was spread across 17 different deals; at least 36 unique investors participated.

Udemy led the way in June with its $60M in Series E funding. Founded in 2010, Udemy offers a platform where experts in any skill or topic can create and sell online courses. The funding will help the San Francisco startup expand its global footprint. It currently offers more than 40,000 courses available in 80 languages. Udemy has now raised $173 million.

Other big winners included $24M in Series B money to Andela led by the Chan Zuckerberg Initiative. Founded in 2014, Andela boasts a very selective process; less than 0.7 percent of the 40,000-plus applicants have been accepted into its six-month training program, which currently operates in Lagos and Nairobi. Nearly 200 graduates have landed jobs in startups and blue-chip companies including Google, Facebook and IBM. This latest funding will allow the company to expand its services to a third African country this year. The company has now raised $41 million. Rounding out the month’s top deals is YewNo which touts its search engine as a tool that orders concepts in a way that more closely resembles human inferences than other engines. Yewno is currently in private beta, but the company has hinted at an upcoming launch. It plans to use the funding to scale the business and its commercial offerings.

Interested in learning more about these and other US and ex-US edtech deals? Subscribe today to our monthly Ka’Ching reports, and stay tuned for more edtech funding info in our weekly newsletters.

Editor’s note: This analysis does not include mergers & acquisitions.

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