OpenClassrooms raises $ 80 million for its online education platform
French Startup Open classrooms 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 from 54 training programs and earn a diploma upon completion of the program – some of these programs lead to bachelor’s and master’s degrees recognized by the French state.
GSV, the Chan Zuckerberg Initiative (CZI) and Salesforce Ventures also participated in today’s fundraising round. Existing investors General Atlantic and Bpifrance have again invested in the company.
OpenClassrooms covers many different areas, from web development and digital marketing, to product management, human resources and sales. These routes are quite demanding, as it can take six to 12 months of full-time work to complete a training program. OpenClassrooms partners with mentors so they can help you stay motivated.
At the end of the program, the startup guarantees that you will find a job. If you’re having trouble finding a job, the company works with career coaches to make sure you find a job that’s right for you. In 2020, 4,300 students found employment or received a promotion after participating in an OpenClassrooms program.
In France, people are entitled to public subsidies to finance vocational training programs. And students can pay for OpenClassrooms courses using these public grants.
The company says the pandemic has had a positive impact on online education. Many people are looking for re-qualification and skills improvement opportunities and find themselves on OpenClassrooms. In addition to programs for individuals, the startup also offers courses to 1,400 companies.
Some companies, like Capgemini, have partnered with OpenClassrooms to offer learning programs. Students learn new skills and work for Capgemini at the same time. The apprenticeship program could be particularly attractive to high turnover companies that cannot find talent to fill vacancies. Currently 1,500 students are in an apprenticeship program.
It all works well; Q1 2021 revenue is 140% higher than Q1 2020 revenue. Recently, OpenClassrooms applied for B-Corp certification. The company always offers free lessons if you are looking for your next weekend project.