Total amount raised
$236.4 Million
Latest funding date
5/1/2020
Location
MasterClass has successfully raised funding over 9 rounds, with the latest being a Secondary Market round. The platform is backed by 48 investors, including Vershina Capital and Bracket Capital.
Keep reading to explore the intricacies of MasterClass's fundraising journey and the investors backing this innovative platform.
What Is MasterClass?
MasterClass, headquartered in San Francisco, California, is an innovative online education platform that offers video-based vocational courses. Founded in 2015, the company operates in the EdTech industry and employs between 101 and 250 people.
The platform allows users to learn from experts in various fields through high-quality video lessons. Covering a wide range of topics, including career development, arts, lifestyle, science, technology, and cooking, MasterClass provides unlimited access to thousands of bite-sized lessons, emphasizing learning from the best to be the best.
How Much Funding Has MasterClass Raised?
- Seed Round
- Amount Raised: USD 1,900,000
- Date: February 2013
- Lead Investors: Harrison Metal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and launch the first set of courses.
- Series A
- Amount Raised: USD 4,500,000
- Date: January 2015
- Lead Investors: Javelin Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the course offerings and improve the platform's technology.
- Series B
- Amount Raised: USD 15,000,000
- Date: February 2016
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and increase marketing efforts.
- Series C
- Amount Raised: USD 35,000,000
- Date: March 2017
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the course library and enhance user experience.
- Series D
- Amount Raised: USD 80,000,000
- Date: September 2018
- Lead Investors: Akkadian Ventures, IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand internationally.
- Series E
- Amount Raised: USD 100,000,000
- Date: May 2020
- Lead Investors: Fidelity Management & Research Company
- Valuation at Round: USD 800,000,000
- Motivation Behind the Round: To enhance the member experience, expand internationally, and innovate products.
- Series F
- Amount Raised: USD 225,000,000
- Date: April 2021
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To create more classes and increase production to one class per week.
- Secondary Market
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: USD 460,400,000. Current Valuation: Not publicly disclosed.
Key Investors
- Fidelity Management & Research Company
- Details: A leading financial services corporation known for its investment management and research capabilities.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Uber, Airbnb, SpaceX.
- Owl Ventures
- Details: A venture capital firm focused on education technology.
- Investment Focus Areas: EdTech companies at various stages of growth.
- Notable Investments: Byju's, Quizlet, DreamBox Learning.
- NEA (New Enterprise Associates)
- Details: One of the world's largest venture capital firms.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Coursera, Robinhood, Uber.
- IVP (Institutional Venture Partners)
- Details: A later-stage venture capital and growth equity firm.
- Investment Focus Areas: Technology, media companies.
- Notable Investments: Slack, Twitter, Snap.
- Atomico
- Details: A European venture capital firm founded by Skype co-founder Niklas Zennström.
- Investment Focus Areas: Technology companies with global potential.
- Notable Investments: Klarna, Lilium, Pipedrive.
What's Next for MasterClass?
MasterClass is poised to capitalize on the growing demand for online education by expanding its class offerings and experimenting with new formats like audio-only mode and augmented reality. With a recent $100 million funding round, the platform aims to produce one new class per week, enhancing its already diverse library of celebrity-taught courses.
Future fundraising opportunities seem promising as the company continues to innovate and attract a global audience. The increased valuation and backing from prominent investors suggest that additional funding rounds could be on the horizon to support further growth and international expansion.
However, MasterClass may face challenges such as maintaining high-quality content while scaling up production and competing with other edtech platforms. Navigating these hurdles will be crucial for sustaining its growth trajectory and meeting the evolving needs of its users.
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