K-12 Dealmaking: Pluralsight Raises $135M for Online Training Videos

By guest blogger Kevin Connors

The “cloud.” We hear the term everywhere. We apparently use this technology everyday. Yet pegging down a clear explanation of exactly what the “cloud” is, and how it works can be a challenge, whether you’re asking a friend or a tech guru.

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Clearly, we all have much to learn about said service. Pluralsight, the recent recipient of a big infusion of investment, says it’s here to help.

Pluralsight describes itself as the largest online library of training courses for developers, IT professionals, and curious everyday users of software programs and tech products. The Utah-based company doesn’t only focus on providing training on the cloud. It also supports workers using databases, Adobe Photoshop, and business enterprise systems like SAP.

The company has grown to offer over 3,000 courses on almost 100 different subjects focused on those systems, among others. 

Their recent growth has attracted investors, and the company just announced a sizable Series B round, in which it raised $135 million. Insight Venture Partners, a returning investor, led the way, while ICONIQ Capital and Sorenson Capital also invested. Pluralsight has now raised a total $165 million of venture capital, according to CrunchBase.

After an initial Series A round of $27.5 in early 2013, Pluralsight quickly acquired four new companies to increase its content offerings. Videos for creative products, such as Photoshop, were added during this expansion.

With this latest round, company officials believe that their new partners will bring greater financial market expertise and connections to major players in Silicon Valley, and support the addition of new features that will help customers.

The new funding will bring an “enhanced learning experience, as well as a tidal wave of new courses, instructors and users to Pluralsight,” company representatives said in a statement to Education Week.

As it looks to expand, Pluralsight seems likely to face strong competition in the e-learning market, which is predicted to grow to $1.7 billion in size in 2015.

For more news on mergers, acquisitions, and venture capital in education, follow Marketplace K-12’s “K-12 Dealmaking” series.  

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