MasterClass

MasterClass,  a provider of an online education platform designed to offer video-based vocational courses based in San Francisco, raised US$ 225M in Series F funding round on 13 May 2021.

Investors: The funding round was led by Fidelity Management and Research Company with participation from new investors including Baillie Gifford, Balyasny Asset Management and Eldridge together with existing investors IVP, Javelin, NEA and Owl Ventures. MasterClass had raised US$ 100M in a Series E round a year ago. The total funds raised by the company to date stands at US$ 461.4M.

Purpose of the funding: MasterClass will expand into new international markets, making its full portfolio of classes available in many more languages and introduce new international talent to its instructor lineup this year. It currently has over 380 employees and is planning to expand its workforce to more than 500 in 2021.

About MasterClass

MasterClass

Founded in 2015 by Aaron Rasmussen and David Rogier, MasterClass is the streaming platform where anyone can learn from the world’s best. It has an annual membership model where subscribers get unlimited access to 100+ instructors and classes across a wide range of subjects, including Arts & Entertainment, Business, Design & Style, Sports & Gaming, Writing and more. Each class features about 20 video lessons, at an average of 10 minutes per lesson. The lessons can be streamed anywhere and anytime on a mobile, tablet, desktop, Apple TV, Android TV, Amazon Fire TV and Roku players and devices.

Over the last two years, MasterClass has increased its content portfolio by more than 90%. As it continues to build out its c-suite, the company has increased its workforce by more than 100% since 2019.

What the CEO has to say: “Over the past several years we have seen a surge in subscriber growth as people are driven to fulfil their desire for lifelong learning outside of the confines of traditional education, MasterClass enables that, with our incredible roster of instructors, cinematic production capabilities and singular focus on restoring the joy of learning. We are grateful to our investors for their support and this new funding, which will enable us to enhance our global offering for subscribers and capture the meaningful market opportunity we see.” — David Rogier, founder and CEO of MasterClass.

What investors have to say: “As an early investor in MasterClass, we continue to be impressed by the company’s track record of continuous innovation and rapid growth, all while remaining focused on fiscal responsibility and sustainability. MasterClass has a diverse content portfolio that provides unprecedented access to world-class instructors, positioning it uniquely within the streaming sector and driving strong customer loyalty. We are thrilled to continue to partner with this category-defining company as it unlocks new opportunities in this pivotal next phase of growth and success.” Rick Yang, General Partner and Head of Consumer Investing at NEA.

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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