IBL News | New York
MasterClass.com announced this week another round of financing of $225 million in series F.
The funding was led by Fidelity Management & Research Company with participation from new investors including Baillie Gifford, Balyasny Asset Management, and Eldridge together with existing investors IVP, Javelin, NEA, and Owl Ventures.
To date, the funding of Master Class has been $475 million. Last year’s round was closed at $100 million on Series E.
The San Francisco-based company said it will use the funding to increase content production, international expansion, and launch of new Enterprise business to serve both SMBs and large corporations.
The startup also plans to open an office in easter Canada this year, and to expand its current workforce of 380 to over 500 in 2021.
“MasterClass enables that, with our incredible roster of instructors, cinematic production capabilities, and singular focus on restoring the joy of learning,” said David Rogier, founder, and CEO of MasterClass.
MasterClass.com’s courses feature about 20 video lessons, at an average of 10 minutes per lesson.
“You can learn on your own terms—in bite-size pieces or in a single binge. Cinematic visuals and close-up, hands-on demonstrations make you feel like you’re one-on-one with the instructors, while the downloadable instructor guides help reinforce your learning,” advertises the company.