Degreed raises $32 million funding for upskilling

Valuation & Biz-Modeling

Edutech start-up Degreed on Wednesday said it has raised $32 million in a new funding round led by Owl Ventures in response to market demand for upskilling and reskilling amid the coronavirus pandemic. This brings Degreed’s total funding to $182 million.

Degreed is an upskilling platform that trains employees to enhance their skill set and create skill profiles. Using that data, the platform can then promote career mobility by connecting users to projects, gigs, and job opportunities. This round of funding will accelerate Degreed’s career mobility roadmap.

“We’ve seen a tremendous surge in client demand for our career mobility product. It’s more important than ever for companies to understand the skills of their workforce, enrich their upskilling programs, and enable internal mobility,” said Chris McCarthy, chief executive of Degreed.

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