OpenClassrooms raises $80 million for its online education platform
French startup OpenClassrooms has raised an $80 million Series C funding round led by Lumos Capital Group. The company operates an online education platform in French and English. Users can choose among 54 training programs and get a diploma at the end of the program - some of those program lead to French-state-recognized bachelor and master diplomas.
GSV, the Chan Zuckerberg Initiative (CZI) and Salesforce Ventures also participated in today's funding round. Existing investors General Atlantic and Bpifrance invested once again in the company.
OpenClassrooms covers many different fields, from web development to digital marketing, product management, HR and sales. Those paths are quite demanding as it can take 6 to 12 months of full-time work to complete a training program. OpenClassrooms partners with mentors so that they can help you remain motivated.
At the end of the program, the startup guarantees that you'll find a job. If you have a hard time finding a job, the company works with career coaches to make sure that you find a job that fits you. In 2020, 4,300 students found a job or received a promotion after participating in an OpenClassrooms program.
In France, people qualify for public subsidies in order to fund professional education programs. And students can pay for OpenClassrooms courses using those public subsidies.
The company says that the pandemic has had a positive impact on online education. Many people are looking for reskilling and upskilling opportunities and end up on OpenClassrooms. In addition to programs for individuals, the startup also offers courses to 1,400 companies.
Some companies, such as Capgemini, have teamed up with OpenClassrooms to offer apprenticeship programs. Students get to learn new skills and work for Capgemini at the same time. The apprenticeship program could be particularly attractive for companies with a high turnover that can't find talent to fill open positions. There are currently 1,500 students following an apprenticeship program.
All of this has been working well as revenue during the first quarter of 2021 is 140% higher than Q1 2020 revenue. Recently, OpenClassrooms applied for the B-Corp certification. The company still offers free classes if you're looking for your next weekend project.
OpenClassrooms and Capgemini team up and launch an online apprenticeship program