The power of knowledge…

Udemy is an educational online platform that joined the Prime Unicorn Index in the quarterly reconstitution. The most recent $50 million Series E round was led by Benesse Holdings and follows $65 million raised for Series D. The terms surrounding the Series E include a pari passu liquidation preference with all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $15.57, an up round from Series D at $6.2177.

The funding round follows a year of considerable growth for the company globally. Udemy celebrated its ten-year anniversary in January 2020 and also marked over $350 million in lifetime payments to instructors sharing their knowledge on the global platform. The company plans to further invest in markets around the world and will expand its San Francisco headquarters as well as grow its offices in Denver, Colorado; Dublin, Ireland; Gurgaon, India; Sao Paulo, Brazil; and Ankara, Turkey.

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Bloomberg Ticker: PUNICORN

Reuters Ticker: .PUNICORN

Q3 2020 Reconstitution Report

 

Deals and post-money valuations on the new 5 components to the Prime Unicorn Index