Skillshare, an online learning community for creative subjects, has raised $66 million in a funding round led by Omers Growth Equity, with participation from existing investors Union Square Ventures, Amasia, Burda Principal Investments and Spero Ventures.
New York City-based Skillshare says it has 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.
To date, Skillshare has raised $42 million in capital from Union Square Ventures, Amasia, Burda Principal Investments and Spero Ventures.
Citigroup served as exclusive financial advisor to Skillshare for the funding round.
Skillshare said it will use the funding primarily to “create a localised experience” for international students, and for domestic expansion. It says it 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 chief executive Matt Cooper said: “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.”
Saar Pikar, managing director at Omers Growth Equity, added: “As the leading platform for creative skills, Skillshare brings together a truly global community of students and teachers. Skillshare serves the needs of professional creatives and everyday creative hobbyists alike, which presents a highly-innovative value proposition for the online learning market. We look forward to deepening our partnership with Skillshare, and our fellow investors, in order to help Matt Cooper and his team scale up the company’s international reach – and help Skillshare achieve the full potential of its unique approach to online learning,”
Pikar is joining Skillshare’s board of directors.
Date published: 12 August 2020