OpenSesame Raises $28 Million Series C to Add Workers for Corporate...

Financing

OpenSesame Raises $28 Million Series C to Add Workers for Corporate Learning Marketplace

May 28, 2019

MAGIC WORDS: OpenSesame, a Portland, Ore.-based online corporate learning marketplace, has raised a $28 million Series C round of funding. FTV Capital led the round with participation from Altos Ventures.

Founded in 2011, OpenSesame claims to host more than 20,000 courses, in subjects ranging from machine learning to leadership. These classes are hosted by third-party creators, who set the price and get to keep about 60 percent of the revenue, the rest going to OpenSesame, according to the company’s website. The company says it currently serves businesses like Siemens and Caterpillar.

OpenSesame’s co-founder and general manager, Josh Blank told The Oregonian that the company “began breaking even on its operations last all” and described the fundraise as “gasoline” to help it grow faster. It will use the money toward hiring about 60 employees, according to GeekWire, which will push its headcount to 140 by the end of the year.

The company has raised at least $45.1 million in total funding. Altos Ventures has also invested in Quizlet.

 

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