Google X cofounder's Udacity valued at $1 billion in latest funding

Reuters News
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Posted: Nov 11, 2015 11:17 AM

(Reuters) - Udacity, run by Google X research lab cofounder Sebastian Thrun, raised $105 million in "Series D" funding that valued the online education provider at $1 billion.

The funding round was led by German media group Bertelsmann, with Scottish investment firm Baillie Gifford, Emerson Collective - a charitable organization run by Steve Jobs' widow Laurene Powell Jobs - and Google Ventures joining as new investors.

Kay Krafft, chief executive of Bertelsmann Education Group, will join Udacity's board, the four-year-old startup said in a statement.

Udacity, which provides specialized software training and vocational courses through its Nanodegree programs, had over 11,000 students across 168 countries last year, the company said.

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Anil D'Silva)