Educative, an interactive hands-on skill development platform for software developers and the companies that employ them, announced a $12 million Series A fundraising round. Matrix Partners led the round with additional funding from new and returning investors, including Trilogy Equity Partners. Lookout founder Kevin Mahaffey, Mercury.com founder Immad Akhund, Segment founder Ilya Volodarsky, and several other angel investors also participated.
Educative has more than 550,000 developers who use the platform, as well as an additional 1.5 million learners monthly that tap into its free database of short, concise articles on dev topics. The infusion of funding will enable Educative to accelerate its growth in the B2B space where companies including LinkedIn, Samsung, Ford, Visa, GE, and VMware leverage the company’s proprietary technology to onboard new engineers, upskill existing ones, and develop their engineering managers. The company will more than triple their course offerings in 2021 and expand customizable training offerings for teams and enterprises looking to expand the skills of their employees. Educative also plans to hire more than 200 new employees to fuel growth across their global customer base.
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“Like skateboarders or swimmers, developers can’t learn by watching videos. Instead, they learn by doing. We set out to build a learning platform that provides pre-configured training environments in the cloud, making hands-on learning a breeze. Educative now touches 10 percent of developers worldwide,” said Fahim ul Haq, chief executive officer and co-founder of Educative. “We’ve experienced accelerated growth over the last year as demand for software developers continues to explode. As remote work, career transitions and upskilling continue, this investment will help us respond to the demand and continue to deliver quality courses for software developers and the businesses that employ them.”
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Over the past year, Educative has experienced widespread growth including doubling its user base in the U.S. The platform saw over 100% growth in non-traditional tech hubs such as San Diego, Columbus, Charlotte, and Raleigh in 2020. Educative responded by expanding its suite of courses utilized by a host of technical bootcamps and individual learners, as well as introducing tailored solutions for training, upskilling and onboarding for businesses.
“Educative has made impressive strides to respond to the challenges associated with upskilling software developers in a time when the job market is growing exponentially for experienced programmers,” said Jake Jolis, partner, Matrix Partners. “Educative embodies the attributes we value at Matrix Partners — a promising mission, an ambitious team and a loyal, passionate community. We look forward to helping Educative continue on its current growth trajectory.”
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