We’re all about looking ahead, but sometimes the best place to start is a look at where you’ve been.
We started the year the way we always do — with our users in mind. We remain tightly aligned with and driven by our primary goal of improving the experience that our clients and their workforces have with Degreed. Even with an enterprise Net-Promoter Score of +69, we know there’s always room to be better. So we committed to growing our capabilities in data science and machine learning, adding functionality to our reporting and insights, and providing a more engaging and user-focused platform.
And it’s been productive.
In the last 12 months, Degreed has seen 100% year-over-year growth — for the fourth straight year! — tripled the size of our sales and client service teams, merged and integrated our largest competitor, Pathgather, and signed on nearly 100 new clients.
And in true Degreed fashion, we aren’t done.
Before we get into the whys and whats of our newly raised money, I first want to thank you and everyone who helped us get to where we are. Thank you to the innovative companies who partner with us to push boundaries in learning. To the individuals who are driven to use our platform to excel or become best in class in a new skill. To the sharers of content who spread knowledge across teams. You are all the reason we’ve been so successful — along with our North Star that’s always pushing us to do even more.
This was our largest round of funding yet: $75 million in equity and debt. The $35 million in equity funding from existing investors Owl Ventures, Jump Capital, Signal Peak Ventures, and GSV Accelerate, along with new investor AllianceBernstein. Degreed also closed a $40 million venture debt facility with AllianceBernstein.
Including this latest round of funding, Degreed has raised a total of $140 million to date.
Why Raise More Capital
The enterprise human capital market is now prioritizing employees above all else, which means companies no longer have to choose between being enterprise class or consumer grade. It is possible to offer employees an engaging experience that puts the user at the center through a platform that scales to any enterprise level.
We want to lead that charge.
With this influx of capital, Degreed will accelerate our international expansion (including building out client service teams on the ground in Europe and Asia), enhance our family of skills measurement and insight features, and significantly strengthen our integration, data science, and client enablement capabilities.
Want more details? Talk to someone from the Degreed team now!
Our goal is to make sure no one becomes obsolete in their career over time. And this round of funding allows us to hone in on key improvements to provide our clients and users with the ability to support and measure their skill development.
We’re excited about the possibilities. And so are our clients. WorldFirst put it best; “Degreed has already been a useful tool for remaining competitive,” said Anjna Rughani, Global Head of Talent Development at London-based financial technology provider, WorldFirst. “But knowing Degreed and the market continue to invest in enhancements that support our learning and skill goals is even more reassuring of both our and their successful futures.”
We know the world is changing and that Degreed is being utilized to make sure no one becomes obsolete in their career. We look forward to the future and to empowering people everywhere.
“Degreed has executed exceptionally well,” said Tory Patterson, Co-Founder and Managing Director of Owl Ventures. “They’ve partnered with the best companies in the world to deliver a platform that is both consumer grade and enterprise class. Their relationship with the end user is unique in the market and it positions them to own the way learning and skills are measured across the enterprise.”
So here’s to all the experts, lifelong learners, and boundary-pushers. We see you, we’re here for you, and we thank you!