MasterClass, the platform that allows anybody to study from the greatest instructors through streaming, announced that it has secured $225 million in Series F fundraising. The funding investment was headed by Fidelity Management & Research Company, with participation from new investors Eldridge, Baillie Gifford, Balyasny Asset Management, as well as current investors IVP, NEA, Javelin, and Owl Ventures. The $100M Series E investment that MasterClass concluded a year ago was followed by the $475M Series F financing, bringing the company’s total capital to date to over $525M.
The most recent funding will help the firm pursue its strategic ambitions, such as:
- Enhanced content creation: MasterClass has increased its content portfolio by more than 90% over the past two years. The extra financing will enable even more depth and variety of material.
- Foreign growth: This year, MasterClass will expand into new international markets, provide its whole catalog of lessons in more languages, and bring in new international instructors to its faculty.
- New Enterprise Business Launch: In response to the high demand from both SMBs and major enterprises, MasterClass will be made available to new audiences through an enterprise offering that will be formally launched later this year.
- Expansion of workforce: MasterClass has grown its workforce by more than 100% since 2019 and is still expanding its c-suite. The business already employs more than 380 people, and it intends to hire more than 500 people by this year’s end, including creating an office in eastern Canada.
David Rogier, founder and CEO of MasterClass, claims that over the past several years we have witnessed a rise in subscriber growth as individuals are pushed to satisfy their desire for lifelong learning outside of the limits. We are grateful to our investors for their support and this fresh capital, which will allow us to improve our members’ access to a more comprehensive worldwide offering and seize the significant market potential we perceive.
As an early investor in MasterClass, Rick Yang, General Partner and Head of Consumer Investing at NEA, stated that we continue to be pleased by the company’s track record of continual innovation and quick expansion, all while keeping focused on fiscal responsibility and sustainability. MasterClass is uniquely positioned within the streaming industry and has significant customer loyalty thanks to its wide content inventory, which offers unmatched access to world-class educators.
Atomico, RPS Ventures, Family Office of Ronald Lauder, NextEquity Partners, Cleo Capital, Dan Capital, Outlier Ventures, Bonnier, NewView Capital, Powerhouse Capital, and UTA are additional new and current investors in MasterClass’ Series F.