“That’s the risk and reward of raising capital,” Grauer said. In other words, when the coronavirus pandemic ends, will these same platforms still find surges in usage? And we dramatically underestimate what we can do closer to 10 years.”Īny edtech company that raises money off of current momentum in remote education will have to face the reality of what it is like to grow when remote learning is no longer a necessity. Paraphrasing Bill Gates, Grauer said, “We do overestimate what we can do in just three years. Now, it is eyeing “many millions” of students, the co-founder says. Last year, it passed 1 million subscribers on the platform. It also plans to use the capital for future acquisitions (in 2012, Course Hero bought an in-person tutoring business).Ĭourse Hero’s change of heart with venture capital boils down to the company meeting new scale demands. Grauer tells TechCrunch that the capital will be used for operations, product innovation and feature development. Now, after going another nearly six years without raising venture capital, Course Hero has closed two rounds in this year alone.
#COURSE HERO CUSTOMER SERVICE SERIES#
After launching, the startup waited eight years to raise a $15 million Series A.
Other edtech companies have also recently added on more capital to their balance sheets to meet remote learning demand amid the coronavirus pandemic.īut in Course Hero’s case, the new capital comes as a stark contrast to how the business functioned before 2020. funding deals of 2020, and brings Course Hero’s valuation to $1.1 billion.įrom a high level, the new raise is not surprising. Its $80 million Series B round is one of the largest U.S. The round is now totaling $80 million, bringing Course Hero’s total known venture capital to date to $95 million. Today, Course Hero tells TechCrunch that it has raised a new tranche of capital in a Series B extension round of $70 million.
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