Degreed, a Pleasanton, Calif.-based upskilling platform, raised $153m in Series D funding. The round, which valued the company at $1.4 billion, was co-led by Sapphire Ventures and Riverwood Capital. Dan Levin, former COO of Box (NYSE:BOX), will succeed Chris McCarthy as CEO of Degreed. McCarthy will remain in a strategic advisory capacity and sit on Degreed’s Board of Directors.
“I am delighted to join the Degreed team. Chris and the entire company have done an amazing job delivering a service that over one-third of Fortune 50 companies use every day to retain, reskill and develop their most valuable employees. The workforce of the future will need to build and activate new skills on a continuous basis, and we are uniquely positioned to help them do just that,” said Levin.
The company intends to use the funds to accelerate product development, enhance data infrastructure, accelerate global expansion, and pursue strategic acquisitions. Technology enhancements will focus on upgrading Degreed’s reporting and analytics and integrations.
Announcement: Degreed Secures $153M for Upskilling Platform