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        EduMe, a UK-based corporate learning platform focused on the gig economy and deskless employees, raised USD 20 million in a Series B funding round co-led by Prosus and Workday Ventures with participation from Valo Ventures (lead investor in EduMe&rsquo;s Series A funding round).&nbsp;&nbsp;
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        The funds will be used for business development in the US.
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  <p>
    <a href="https://techcrunch.com/2022/01/11/edume-raises-20m-to-scale-its-corporate-learning-platform-targeting-gig-workers-and-other-deskless-employees/">
      Techcrunch&nbsp;
    </a>
  </p>
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EdTech: Corporate Learning

EduMe raises USD 20 million in Series B funding

ANALYST_QUICK_TAKE

<div>
 <p>Sana, an innovative learning platform, recently secured a funding of USD 55 million in a round led by NEA. This significant investment has boosted its total funding to more than USD 130 million and pushed its valuation to USD 500 million.</p>
 <p>The brand intends to use the new fund injection to propel global expansion and ramp up R&amp;D in Artificial Intelligence (AI) and design innovation. Sana has also broadened its automation capabilities by acquiring <a href="https://sp-edge.com/companies/2302073"> Ctrl </a>, an AI workflow automation startup. Erik Olmers, an accomplished designer from Apple and Oscar Tackstrom, a past AI researcher from Google have also joined Sana as chief scientists.</p>
 <p>A host of new updates from Sana includes AI elements that allow the construction of no-code, workflow-specific agents that can independently manage tasks. Other upgrades include improved ranking in the enterprise search, a user-friendly interface, and AI-generated avatars for better accessibility to knowledge. In continuation of its Free tier's success, the company has unveiled a Team tier, extending enterprise-level AI to smaller organizations.</p>
 <p>Ctrl is a UK-based sales workflow automation tool that simplifies administrative workflows for sales teams. The platform offers AI-aided tools that update CRM records, schedule meetings, send personalized emails, generate proposals, and carry out analytics and reporting.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Sana's new funding round builds upon its previous one, where the company raised USD 28 million in an expanded <a href="https:<br>
//sp-edge.com/updates/19023"> Series B </a> round led by NEA, achieving a post-money valuation of USD 250 million. This back-to-back fundraising highlights strong investor confidence in Sana's growth and potential.</p>

Sana raises USD 55 million in funding to expand globally

<div>
 <p>Cyber Guru, a cybersecurity awareness training platform, has recently acquired USD 25 million from a Series B funding round. This round was led by Riverside Acceleration Capital, while Educapital, Adara Ventures, and P101 Ventures also participated.</p>
 <p>The company plans to distribute the funds towards accelerating the development of its AI-driven contextual training roadmap. As a secondary priority, they also aim to enhance their sales and marketing resources. The remaining funds will be used for the expansion of their go-to-market operations across Europe.</p>
</div>

Cyber Guru raises USD 25 million in Series B funding to expand operations

<div>
 <p>upGrad has managed to secure a funding of USD 60 million from Temasek, which allows the company to maintain its valuation of USD 2.25 billion.</p>
 <p>Ronnie Screwvala, the founder and chairman of upGrad, has expanded his stake in the company to 45% by purchasing Bharti Enterprises' 1% share for USD 20 million. Bharti Enterprises initially acquired this stake as a part of upGrad's stock-swap acquisition of <a href="https://sp-edge.com/updates/13074"> Centum Learning in 2022. </a> This increased stake signifies Screwvala's escalating involvement in the operations of the company, especially after the departure of co-founder Mayank Kumar.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Screwvala's return aligns with upGrad's plans for an IPO in India, and his increased involvement is expected to influence public market investors positively. This funding round, which marks the third-largest in the edtech sector recently, follows Eruditus’ USD 150 million raise in <a href="https:<br>
//sp-edge.com/updates/34969"> September 2024 </a> , further highlighting the sector's resilience amid ongoing challenges.</p>

upGrad raises USD 80 million in funding; founder Ronnie Screwvala increases stake

<div>
 <p>Eruditus, an Indian executive education platform, secured USD 150 million in a Series F financing round. The round was spearheaded by TPG's The Rise Fund and saw participation from existing investors such as SoftBank Vision Fund 2, Leeds Illuminate, and Accel.</p>
 <p>The procured funds are destined for several purposes. The company aims to enhance its global footprint, invest in advanced AI technology, expand its operational horizons, and make further investments in the Indian and APAC market. Eruditus also has plans to scout for acquisition opportunities. A significant shift in the company’s strategic operations involves relocating its headquarters from Singapore to India in the coming 12–18 months.</p>
 
</div>
 <p><b>Analyst QuickTake</b> :<br>
 This funding marks Eruditus' first major equity round since <a href="https:<br>
//www.prosus.com/news-insights/group-updates/2021/eruditus-announces-650-million-capital-raise-led-by-accel-and-softbank"> August 2021 </a> , when it raised USD 650 million. Excluding the latest round, the company has raised over USD 814 million in equity funding. Despite the challenges facing India's EdTech sector, particularly after Byju's' <a href="https:<br>
//sp-edge.com/updates/28057"> decline </a> , funding continues to flow into companies like Eruditus.</p>

Eruditus raises USD 150 million in Series F funding to expand global presence

<div>
 <p>The digital adoption solutions (DAS) company from India, Whatfix, has initiated a USD 58 million liquidity program for its workers and investors. This represents the fourth buyback of employee stock options (ESOPs) by the company.</p>
 <p>This liquidity event enables qualified current and previous employees to sell part of their vested shares at a premium to the prior Series D valuation. The action is a result of the company's valuation surge from USD 600 million to USD 900 million during the <a href="https://whatfix.com/newsroom/announcements/driving-the-future-now-were-excited-to-announce-our-90-million-series-d-funding/"> Series D </a> fundraising.</p>
 </div> <p><b>Analyst QuickTake</b> :<br>
 Whatfix raised USD 125 million in a <a href="https:<br>
//sp-edge.com/updates/33595"> Series E </a> funding round just last month, with a focus on growth after doubling its headcount to over 960 employees and opening new offices in Singapore, Germany, Australia, and India. The company's ESOP buyback is the second largest in the Indian market in 2024, reflecting a trend among startups to reward employees while pursuing expansion initiatives.</p>

Whatfix launches USD 58 million buyback program for employees and investors

<div>
 <p>Interplay Learning, a provider of immersive skilled trades training, has received funding from Goldman Sachs Alternatives and has bought Industrial Training International (ITI). Goldman Sachs' managing director, Richard Waitumbi, will become a part of Interplay's board of directors.</p>
 <p>The received funds will drive expansion of Interplay's presence in primary sectors, particularly the industrial sector. With acquiring ITI, Interplay is now capable of delivering immersive simulation training for crane and rigging operations at different work sites.</p>
 <p>Offering over 500 hours of courseware for diverse trades, Interplay's platform integrates AI and 3D simulations. The company's objective is to resolve the skilled labor shortage, as per the estimate by US Labor Statistics claiming 1.5 million new skilled trade jobs by the year 2029 and a lack of an adequate workforce to fill them.</p>
 
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Interplay Learning raises funding from Goldman Sachs Alternatives to expand industrial training; acquires ITI

<div>
 <p>Udemy is undergoing a restructuring plan that includes a new round of layoffs, following a 10% workforce reduction that occurred in February 2023. The company expects the restructuring to be complete by March.</p>
 <p>An estimated 280 employees will be affected by this change. However, roughly half of them are expected to be rehired, mainly in regions with lower living costs. As 2023 came to an end, Udemy had a total of 1,443 full-time employees.</p>
 <p>Udemy anticipates that the restructuring will result in charges ranging from USD 16 million to USD 19 million. These costs will be recognized from the third quarter of 2024 through the first quarter of 2025.</p>
 
</div>

Udemy to cut 280 jobs and rehire half in lower-cost regions in restructuring plan

<div>
 <p>Digital Adoption Solutions provider, Whatfix, originating from India, achieved a funding input of USD 100 million in a Series E (primary + secondary) investment round. The investment was headed by Sweet Nectar Investments, a Warburg Pincus entity, and SoftBank, leading to a company worth ranging from USD 820 million to USD 830 million.</p>
 <p>The firm intends to use the capital raised primarily for business enlargement and development. It has been three years since the company’s last capital raise.</p>
 <p>In the deal, there were 13,201 Series E compulsory convertible preference shares issued. As a consequence of the allocation, SoftBank’s stake in the company grew to 15.51%, while Warburg Pincus' Sweet Nectar Investments ended up with an 8.94% interest.</p>
</div>

Whatfix raises USD 100 million in Series E funding to expand business

<div>
 <p>The AI-enabled enterprise learning platform, Uplimit, has recently acquired USD 11 million in a Series A funding round. The round was led by Salesforce Ventures and saw participation from existing investors including GSV Ventures, Greylock Partners, and Cowboy Ventures. New investors including Translink Capital, Workday Ventures, and Conviction also contributed.</p>
 <p>Uplimit plans to utilize these funds to improve its corporate and customer education services and advance its AI functionalities. This will involve the development of features such as cohort management, swift aggregation and incorporation of course feedback, interactive practice and assessment modules, and AI-aided course creation tools.</p>
 
</div>

Uplimit raises USD 11 million in Series A funding to improve its quality in teaching and learning

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <p>Skillsoft, a firm specializing in employee learning and development solutions, has joined hands with Microsoft to launch a new GenAI skilling program. The objective of this program is to improve the use of Microsoft AI and AI technology in organizations.</p>
 <p>This partnership is centered on a detailed skills plan developed on Skillsoft's AI Skill Accelerator. The plan incorporates training methodologies making use of Microsoft's Azure Open AI. The primary goal is to provide businesses and their workforce with the necessary skills to handle AI technologies, which will eventually lead to increased productivity and innovation.</p>
 <p>The initial phase of the program has received positive feedback, with attendees indicating immediate application of the skills obtained. It's anticipated that the program will elevate the AI maturity and adoption levels in companies within a three-month period.</p>
 
</div>

All Updates

EduMe raises USD 20 million in Series B funding

Sana raises USD 55 million in funding to expand globally

Cyber Guru raises USD 25 million in Series B funding to expand operations

upGrad raises USD 80 million in funding; founder Ronnie Screwvala increases stake

Eruditus raises USD 150 million in Series F funding to expand global presence

Whatfix launches USD 58 million buyback program for employees and investors

Interplay Learning raises funding from Goldman Sachs Alternatives to expand industrial training; acquires ITI

Udemy to cut 280 jobs and rehire half in lower-cost regions in restructuring plan

Whatfix raises USD 100 million in Series E funding to expand business

Uplimit raises USD 11 million in Series A funding to improve its quality in teaching and learning

Skillsoft collaborates with Microsoft to develop GenAI skilling program

EdTech: Corporate Learning

EduMe raises USD 20 million in Series B funding

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