The female-founded edutech company receives a huge first round of outside funding, with big plans for expansion.
By Angie Chang (Co-Founder & Editor-in-Chief, Women 2.0)
Co-founded by Lynda Weinman in 1995 and profitable since 1997, online learning platform lynda.com has big plans to scale and grow internationally with its first round of outside funding – $103 million from Accel Partners, Spectrum Equity and Meritech Capital Partners.
lynda.com earned over $100 million in revenue in 2012.
“Our mission has always been to help people navigate changing technology by providing up-to-date, credible learning materials that are easy to follow,” said Lynda Weinman, lynda.com co-founder and Executive Chair.
“We’ve built a thriving business by focusing on our product, collaborating with the best teachers in the industry and providing flexible learning paths for our customers. Now, we’re ready for the next level. This investment increases our ability to expand our services to help more people in more places, and we believe that Accel and Spectrum have the domain expertise, resources and shared vision to help us reach our goals.”
Accel partner Andrew Braccia, who will be joining the board at lynda.com said, “Education is the latest industry to encounter a major digital disruption and lynda.com is at the forefront of connecting educational content to learners online. We are excited to stand behind the lynda.com management team as they continue to build the leading brand in online education.”
Congrats to Lynda Weinman and the team at Lynda on the news of funding raised – we enjoy watching female-founded companies go big!
Women 2.0 readers: What is your favorite up-and-coming edutech startup? Let us know in the comments below!
Angie Chang is Editor-in-Chief and Co-Founder of Women 2.0, a media company offering content, community and conferences for aspiring and current women innovators in technology. Our mission is to increase the number of female founders of technology startups with inspiration, information and education through our platform. Previously, Angie held roles in product management and web UI design. Angie holds a B.A. in English and Social Welfare from UC Berkeley. Follow her on Twitter at @thisgirlangie.