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Hubert Burda Media today announced a follow-on investment in Skillshare, the world’s largest online learning community for creativity based in New York City. BurdaPrincipal Investments, the international growth capital arm of Hubert Burda Media, joined the $66 Million Series D funding round led by OMERS Growth Equity alongside the other existing investors Union Square Ventures, Amasia, and Spero Ventures. Burda has been invested in Skillshare since 2018. The funding will primarily be used to create a localized experience for international students, while continuing to expand domestically, and grow Skillshare’s enterprise offering. The funding will also create more opportunities for Skillshare’s teachers. Skillshare will invest in tools that increase engagement between students and teachers, expand teachers’ audiences through dedicated marketing efforts, and create new formats for teachers to earn revenue.
“Skillshare’s community-based learning model sets the platform apart from competitors in the online learning space. Matt Cooper and his team have done a fantastic job in rapidly scaling the platform, both in the US and internationally, propelled by a successful combination of new subscribers and superior retention rates. We look forward to deepening our partnership with Matt Cooper, his team and our fellow investors helping Skillshare further scale up the business across the globe.”
Christian Teichmann, Managing Director of BurdaPrinicpal Investments
With more than 12 million registered members, 8,000 teachers, and over 30,000 video-based classes in a wide range of creative disciplines from graphic design to photography to painting and illustration to interior design, Skillshare has experienced a year of unprecedented growth.
“While the world faces an extended period of uncertainty, creativity will be at the heart of the global rebuild. Our shift as a business earlier this year has uniquely positioned us to meet that need and resulted in incredible growth, deeper user engagement and interest from new partners during a time where creativity is more important than ever. The impact of social distancing on our mental and emotional wellbeing is profound, and people today are in need of authentic human connection, supportive communities, and creative outlets. At the same time, during recessions and economic downturns, companies perform better because they invest in skills that allow room for ideas and innovation. Skillshare is meeting this demand for both personal and professional growth through creativity.”
Matt Cooper, CEO of Skillshare
In the wake of COVID-19, online learning is having a hallmark year, pushing the industry to grow into an anticipated $375 billion dollar marketplace by 2026. In the first half of 2020, Skillshare has focused on releasing quality new classes taught by industry experts, and testing new learning methods and video production processes. As a result, the average rate of engagement has more than doubled in most markets.