Lynda.com, the massive education-technology company based in Carpinteria, announced last week the receipt of an investment of $186 million. The company plans to use the funds to develop new content, expand its courses and video tutorials, and grow its consumer base.
Currently, lynda.com has more than 5,700 courses and 255,000 video tutorials — in multiple languages — that it sells to individuals and corporations. According to a press release from the company, its consumer base already includes half the Fortune 50, a third of the nation’s colleges and universities, numerous state governments, and all U.S. military branches. “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,” CEO Eric Robison said in a statement.
The investment is led by TPG, a global firm that manages $65 billion of assets. Existing lynda.com investors include Accel Partners, Spectrum Equity, and Meritech, which also joined in the funding. With this investment, TPG’s David Trujillo will also join the board. Trujillo said in a statement: “TPG looks forward to leveraging its operational experience with disruptive and innovative internet companies as the company expands its enterprise business and reshapes continuing education.”