DEGREED, a San Francisco-based company behind a “lifelong learning platform” that helps professionals and companies develop and certify skills, has raised $42 million in a Series C round led by Owl Ventures and Jump Capital. Other investors include Founders Circle Capital, GSV Acceleration Fund and Signal Peak Ventures.
This latest infusion of capital is double its Series B fundraise in 2016, and puts the company at $75 million of venture dollars raised.
Founded in 2012 with the motto of helping people “jailbreak the degree,” Degreed aims to help companies identify the skills that their employees need, and provide the online resources for them to acquire those competencies. The company claims it has doubled its revenue for the past three consecutive years, and that new clients such as Cisco, Booz Allen Hamilton and Hyatt Hotels have joined the platform in the past six months.
The funding also comes with news of an executive shuffling: David Blake, the company’s co-founder and former CEO, will now assume the post of “Executive Chairman.” Taking the reins as CEO is Chris McCarthy, the former chief operating officer.
