NEW YORK — Codecademy, an online education company for programmers, has closed a $30 million Series C investment led by Naspers through its Naspers Ventures division.
Larry Illg, CEO of Naspers Ventures, has also joined Codecademy’s Board of Directors. Existing investors, including Union Square Ventures, Flybridge Capital Partners, Index Ventures and Sir Richard Branson contributed to the round.
Codecademy will use the new funds to drive the company’s product, team and global expansion plans. Since the company launched in 2011, tens of millions of people have taken its courses in nearly every country. The new funds will allow the company to grow its team to accommodate further international growth, extend the capabilities of its innovative platform, build its mobile presence and develop additional course content to even better serve its users.
“Since we founded Codecademy in 2011, we have seen an explosion of interest in learning to code as a key component of a 21st century education,” said Zach Sims, CEO of Codecademy. “With millions of monthly users, and more than 50 percent of those outside the US, there is a great opportunity in partnering with Naspers to expand our business to deliver a wider breadth of courses in more languages and new geographies to create an education that allows anyone to access economic opportunity.”
“Traditional universities are poorly equipped to meet the evolving demands of technology students and employers, and Codecademy fills an important and valuable gap in the market,” said Larry Illg, Naspers Ventures CEO. “The quality of the Codecademy product and the team’s execution have enabled a global footprint today and positions it well for future expansion.”
Naspers has made investments in internet companies, including Tencent and Flipkart, that 1.3 billion people worldwide already use. The company provides its businesses with unmatched levels of international support, including strong strategy expertise, operating experience, and access to on-the-ground resources in key expansion markets.