Funding round
Emeritus Series E
Emeritus, which works in online education services in Boston, raised $650M in a Series E round announced on 12 Aug 2021, led by Accel and SoftBank Vision Fund, at a $3.20B post-money valuation. 7 firms took part, 6 of them already investors. It is Emeritus' second venture round on record; the one before was a Series C in Jan 2019.
$650M
Amount raised
$3.20B
Post-money valuation
$2.55B pre-money
7
Investors
2 leads
20%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Emeritus at $3.20B after the new money. The $650M bought investors about 20% of the company. It came 31 months after Emeritus' Series C. It is 94% of the $690M Emeritus has raised in the venture rounds on record. No later venture round is on record for Emeritus.
Emeritus' funding rounds
Emeritus has 2 venture rounds on record. This one is highlighted.
- Series C 10 Jan 2019, led by Sequoia India $40M
- Series E this round 12 Aug 2021, led by Accel and SoftBank Vision Fund $650M$3.20B post-money
Investors
Who put money in
Accel and SoftBank Vision Fund led the round with 5 other firms. Accel, Chan Zuckerberg Initiative, Leeds Illuminate and Prosus and 2 more had backed Emeritus before.
Lead investors
- Accel backs 581 venture-backed companies existing investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- Chan Zuckerberg Initiative existing investor
- backs 8 venture-backed companies existing investor
- Prosus backs 44 venture-backed companies existing investor
- Sequoia Capital India existing investor
- backs 31 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series E rounds in Professional & Management Training:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Emeritus Professional & Management Training | 11 Aug 2021 | $650M | $3.20B | SoftBank Vision Fund and Accel |
| BetterUp Professional & Management Training | 8 Oct 2021 | $300M | $4.70B | Wellington Management and ICONIQ Growth |
| Guild Professional & Management Training | 2 Jun 2021 | $150M | $3.75B | General Catalyst |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Emeritus raise in its Series E round?
Emeritus raised $650M in its Series E round, announced in Aug 2021.
Who led Emeritus' Series E round?
Accel and SoftBank Vision Fund led it, with Chan Zuckerberg Initiative, Leeds Illuminate, Prosus, Sequoia Capital India and Bertelsmann Investments.
What was Emeritus' valuation at the Series E round?
$3.20B post-money ($2.55B pre-money).