Degreed joined the Unicorn Club on April 13, 2021, after raising a $153 million Series D funding round led by Sapphire Ventures and Riverwood Capital, valuing the company at $1.4 billion. Based in Pleasanton, California, United States, Degreed operates a cloud-based learning experience platform (LXP) that helps individuals and enterprises measure, track, and validate all forms of learning from online courses and degrees to work experiences and conferences.
The platform creates a unified learning score, similar to a credit score, offering visibility into skill levels and progress. Degreed also hosts an internal learning library that enables employees to upskill within their organizations, bridging learning data and career development into one seamless system.
Keep reading to learn how Degreed became a $1.4B leader in enterprise learning and skill analytics.
What Is Degreed and What Does It Do?
Founded in 2012, Degreed helps companies and professionals organize, measure, and analyze their learning activity across multiple formats. Its learning experience platform (LXP) integrates with corporate systems to offer personalized skill pathways, content recommendations, and performance insights.
The platform’s ability to link learning outcomes to measurable skill growth has made it a preferred choice for large enterprises focused on workforce transformation and continuous upskilling.
How Much Funding Has Degreed Raised?
1. Conventional Debt Round
- Amount Raised: $30 million
- Date: April 13, 2021
- Purpose: Support business expansion, platform enhancement, and product integration across enterprise HR systems
2. Series D Round (Unicorn Round)
- Amount Raised: $153 million
- Date: April 13, 2021
- Valuation: $1.4 billion
- Lead Investors: Sapphire Ventures, Riverwood Capital
- Purpose: Accelerate product innovation, expand enterprise partnerships, and enhance AI-driven skill analytics
Total Funding Raised: ~$367 million
Latest Funding Date: April 13, 2021
Latest Known Valuation: ~$1.4 billion
Employee Count: 392 (as of December 31, 2022)
Key Investors
1. Sapphire Ventures
- Details: A global venture capital firm investing in enterprise technology companies driving digital transformation.
- Focus Areas: SaaS, AI-driven HRTech, enterprise cloud, and analytics platforms.
2. Riverwood Capital
- Details: Growth equity firm backing technology-driven companies across software, internet, and digital transformation sectors.
- Focus Areas: Enterprise SaaS, cloud infrastructure, and digital learning.
3. Section Partners
- Details: Investment firm specializing in structured liquidity solutions for high-growth technology companies.
- Focus Areas: Late-stage tech, enterprise software, and HR platforms.
4. Founders Circle Capital
- Details: Provides flexible growth capital to late-stage private companies and founders.
- Focus Areas: Cloud software, data platforms, and enterprise SaaS.
Where Is Degreed’s Headquarters?
Degreed is headquartered in Pleasanton, California, United States, serving enterprise clients globally with offices and operations in North America, Europe, and the Asia-Pacific region.
What’s Next for Degreed?
Degreed aims to expand its AI-powered skill intelligence ecosystem, enabling companies to map workforce capabilities more accurately. With increasing demand for digital upskilling and remote learning, Degreed is expected to deepen integrations with HR platforms and analytics tools to help enterprises build skill-first cultures.
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