Online education company Lynda.com today announced an investment of $186 million led by TPG, a global private investment firm, and is speculatively in the vicinity of touching the $1 billion valuation mark.
Though Lynda isn’t new to anyone, but for those of you who aren’t aware of Internet’s most popular education portal, here’s a brief.
Lynda.com Inc. is a privately held online education company, offering thousands of video courses in software, creative and business skills taught by industry experts. The company offers more than 5,700 courses and 255,000 video tutorials through its website.
The latest round of funding was attended by Accel Partners, Spectrum Equity and Meritech.
The amount raised will be used to accelerate acquisitions, growth and new content initiatives, and to continue to build world-class team that supports those efforts. Though the company has more than 500 employees worldwide, it may bring in another 150 to 250 employees aboard as it also seeks to expand its user base.
Eric Robison, CEO of lynda.com said post the funding round-
This investment is a tremendous vote of confidence in lynda.com’s ability to empower more people everywhere to learn the skills they need to succeed. We are thrilled also to have David Trujillo join our board and look forward to drawing on his operational expertise to build on the success of lynda.com and to help grow the company. It’s an opportunity for us to continue to strengthen our balance sheet and continue to do acquisitions in this segment.
Though all those post-funding goals are common to start-ups, Lynda’s acquisition spree will be one to watch. Flushed with this newly received cash, you can probably expect Lynda to go an acquisition spree in coming months. Certain analysts speculate that the acquisitions may start from ThinkFul or TreeHouse.
With the investment, David Trujillo of TPG will join the board, which also includes Lynda Weinman, co-founder and Executive Chair; Bruce Heavin, co-founder and Chief Innovation Officer; Eric Robison, CEO; Bud Colligan, Founder and CEO of South Swell Ventures; Vic Parker, Managing Director of Spectrum Equity; and Andrew Braccia, Partner at Accel Partners.
Last year, the company generated $150 million in revenue. In 2013, lynda.com received a total of $103 million investment from global venture capital firm Accel Partners and growth equity firm Spectrum Equity. Soon after, it acquired video2brain, GmbH, a European-based online video training company that specializes in German, French, Spanish and English-language courses.