OpenClassrooms Secures $80 Million in Series C Funding

French-based educational technology company, OpenClassrooms, has successfully completed a $80 million Series C funding round. Lumos Capital Group spearheaded the investment, which will fuel the platform’s continued growth.

Platform Overview and Programs

OpenClassrooms delivers online education in both French and English. The platform provides access to a diverse catalog of 54 distinct training programs.

Upon completion of a program, students receive a diploma. Notably, select programs are accredited by the French state, leading to recognized bachelor's and master's degrees.

Investors and Continued Support

This funding round saw participation from several prominent investors. GSV, the Chan Zuckerberg Initiative (CZI), and Salesforce Ventures all contributed to the round.

Furthermore, existing investors General Atlantic and Bpifrance reaffirmed their commitment to OpenClassrooms with follow-on investments.

Diverse Curriculum and Mentorship

The platform’s curriculum encompasses a wide array of in-demand fields. These include web development, digital marketing, product management, HR, and sales.

Program completion typically requires a significant time commitment, ranging from six to twelve months of full-time study. To aid students, OpenClassrooms provides access to mentors who offer guidance and motivation.

Job Guarantee and Career Support

A key differentiator for OpenClassrooms is its job guarantee. The company is committed to assisting graduates in securing employment.

For those facing challenges in their job search, OpenClassrooms offers support from dedicated career coaches. In 2020, 4,300 students either found new jobs or received promotions following program completion.

Financial Accessibility and Public Subsidies

In France, individuals can leverage public subsidies to finance their professional development. These subsidies can be applied towards the cost of OpenClassrooms courses, increasing accessibility.

Impact of the Pandemic and Corporate Partnerships

The company has observed a surge in demand for online education since the onset of the pandemic. Many individuals are actively seeking opportunities for reskilling and upskilling, leading them to OpenClassrooms.

Beyond individual learners, OpenClassrooms also provides training solutions to over 1,400 companies.

Strategic partnerships, such as the collaboration with Capgemini, facilitate apprenticeship programs. Students gain practical experience while simultaneously earning new skills and working for Capgemini.

These apprenticeship programs are particularly beneficial for companies experiencing high employee turnover and struggling to recruit qualified candidates. Currently, 1,500 students are enrolled in such programs.

Strong Revenue Growth and B-Corp Application

OpenClassrooms has demonstrated substantial financial growth. First-quarter revenue in 2021 was 140% higher than the revenue generated during the same period in 2020.

The company is also committed to social responsibility, as evidenced by its recent application for B-Corp certification. Free introductory classes remain available for those exploring potential learning opportunities.