Guild Education, an EdTech platform that upksills workers and helps organizations prepare for the future, has recently raised $150 million in a Series E funding round.
Investors who participated in the round include D1 Capital Partners and existing investors Bessemer Venture Partners, Cowboy Ventures, Emerson Collective, General Catalyst, GSV, Harrison Metal, Iconiq Capital, Next Play Capital, Redpoint Ventures, and Salesforce Ventures.
The latest funding brings the Denver-based company’s total valuation to $3.75 billion, up from $1 billion when it raised its Series D round in November 2019.
Guild Education pairs employees with employer-sponsored learning opportunities to help them stay employable as well as to take on the jobs of tomorrow. It focuses on creating opportunities for America’s workforce, especially those without a high school diploma or college degree, through education. The platform helps employees access a variety of education programs, including bachelor's and master’s degrees, as well as certificates, trade diplomas, English-as-a-second-language courses, and high school completion programs.
Guild partners with large employers, such as Walmart, Walt Disney, Lowe’s, Discover Financial Services, Taco Bell, and Chipotle Mexican Grill Inc., to help them provide education benefits to their workforce. The company also partners with a diverse network of non-profit, accredited universities, such as the University of Arizona, Purdue Global, Southern New Hampshire University, and the University of Central Florida, that focus on serving working adults.
According to Guild, most education programs are inequitable – 67% of frontline workers cite not being able to pay upfront as the main reason for not using education and learning and development programs. The company is changing that by connecting employers and high-value learning providers to create opportunities for America’s workforce. The platform helps employers keep talent in the pipeline and learning providers get access and serve highly motivated working adult learners.
The company plans to use the latest funds to grow its team, expand its learning marketplaces, and double down on its outreach with learning providers.
Guild last raised $157 million in its Series D funding round in November 2019, which made the company become the latest female-led as well as EdTech startup that hit a $1 billion valuation that time. Venture capital firm General Catalyst led the round with participation from Emerson Collective, Iconiq Capital, and Lead Edge, as well as existing investors including Workday Ventures, Salesforce Ventures, Next Play Capital, Silicon Valley Bank, Felicis Ventures, Bessemer Venture Partners, Redpoint Ventures, and Harrison Metal.
The company claims to have more than doubled its revenue since the COVID pandemic began last March. According to Carlson, more than 4 million Americans have access to Guild Education through their employers.