Singapore government joins Coursera's Series C
EDBI, the corporate investment arm of the Singapore Economic Development Board, has joined a Series C round of funding for US-based online education provider Coursera.
The participation of EDBI brings the company's Series C round to $61.1 million in all. Coursera will use the capital to source new educational content and improve the learning experience for students in Asia, according to a statement.
The round is being led by New Enterprise Associates (NEA), a previous investor in the company. A first close of the round at $49.5 million was announced in August; at that time participants besides NEA included India's Times Internet, Kleiner Perkins Caufield & Byers (KPCB) and the International Finance Corporation (IFC). Times Internet and EDBI are the only new investors participating in the round.
"EDBI is pleased to partner with Coursera in growing its presence in Singapore as well as the region, leveraging Singapore's reputation as a leading knowledge hub with well integrated high-quality system of education and training," said EDBI CEO and President Swee-Yeok Chu.
Since its founding in 2012 by Stanford computer scientists Daphne Koller and Andrew Ng (himself a Singaporean), Coursera has expanded to offer 1,400 courses led by professors from universities around the world. The company's catalog includes more than a dozen courses each from Singapore's Nanyang Technological University and the National University of Singapore.
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