US-based massive open online course (MOOC) provider Coursera has filed to go public, Crunchbase has reported.
News of a potential $3 billion IPO by the Mountain View, California-headquartered company was exclusively reported in October last year by EducationInvestor Global.
Coursera’s backers include The World Bank and EDBI, and the investors set to benefit most from the IPO include New Enterprise Associates, G Squared, Kleiner Perkins and Future Fund.
To date Coursera has raised more than $443 million in funding, with the last round a $130 million Series F led by NEA last July.
The company reported it has more than 77 million registered learners on its platform, which is used by over 4,000 academic institutions, 2,000 organisations and 300 government entities.
Coursera stated: “Although we believe our business has also been positively impacted to some extent by several trends related to the Covid-19 pandemic, including the increased need or willingness of businesses, governments, and educational institutions to adopt remote, online, and asynchronous learning and training, we cannot predict whether these trends will continue if and when the pandemic begins to subside, restrictions ease, and the risk and barriers associated with in-person learning and training decrease.”
The company added: “While the Covid-19 pandemic has accelerated the market for online learning solutions, it is still less mature than the market for in-person learning and training, which many businesses currently utilise, and these businesses may be slow or unwilling to migrate from these legacy approaches.”
Date published: 9 March 2021