Degreed became work tech’s newest unicorn with a $153 million Series D round of venture capital for its learning and upskilling platform. This brings its total raised to $360.2 million.
Degreed started as a hybrid consumer and corporate learning platform with a mission to go beyond the college degree and establish the value of “micro-credentials.” Based on that concept, “credentials are currency” and that today individuals acquire them through structured and unstructured learning environments, work experience, personal and professional development, and skills. This led them on a path to integrate career mobility with the acquisition of Pathgather in 2018 and then to acquire and integrate Adepto in 2019, adding the ability to sense and respond to shifting demand for skills. These acquisitions and an aggressive product development roadmap put Degreed ahead of the “upskilling” and “career mobility” trend compared to other learning tech providers in the market. In fact, they’ve always seemed to be a little ahead of the market, including the HR and learning buyer, when it comes to the concept of employee-led learning. Timing may be now in Degreed’s favor.
- COVID has accelerated distributed and remote work trends.
- The last decade’s increasing focus on employee experience has put the employee at the center of everything.
- Internal mobility and career pathing have been cemented as trends to be reckoned with for talent-focused businesses.
It’s not surprising to see investors “double down” on Degreed. Throughout the COVID crisis learning has seen increased interest of investors as the CLO is once again looking to transform their approach to learning. We put Degreed on the “Companies to Watch” list in 2017. We stand by that today. Keep an eye on Degreed.
$2.7 billion was invested globally in work tech during Q1 2021 alone. Get free access to our Q1 report and analysis, here.