San Francisco-based streaming platform MasterClass has raised $100 million in a Series E funding round led by Fidelity Management & Research Company.
Other investors participated in the round include Owl Ventures, 01 Advisors and previous backers NEA, IVP, Atomico, and NextEquity.
Founded in 2015, MasterClass provides a platform that makes it possible for anyone to learn from the best. It offers live and pre-recorded lessons from celebrity experts who are the best in their profession. The platform currently offers 85+ classes taught by world-renowned instructors on business, politics and society, music and entertainment, writing, design, photography and fashion, culinary arts, film and TV, sports and games, lifestyle, and more.
MasterClass claims to combine the best of entertainment and education. It makes hundreds of video lessons from some of the most brilliant minds available anytime, anywhere on mobile, desktop, and TV with the All-Access Pass at $180 per year. The annual subscription provides learners access to every course offered on the platform.
Talking about the company and on the latest funding, David Rogier, Co-founder and CEO of MasterClass, said in a statement,
“We launched MasterClass because we believed there was an opportunity for a different approach to the learning model. This round of funding will enable us to expand MasterClass’s offerings so that we can continue to feed curiosity and inspire the world to try something new. We’re excited to be working with Fidelity Management & Research Company as we enter this next chapter of growth.”
MasterClass plans to put the new funding towards a better member experience, international expansion, employee growth, and continued expansion of its instructor roster. It said the investment will support its product development efforts to make its content available on new mediums. The company has recently added a new suit of apps to enable viewing on big screens, including Amazon Fire TV, AppleTV, Android TV, and Roku devices.
With MasterClass, individuals can learn anytime and anywhere, and at their own pace. They can watch thousands of lessons from the world’s best minds as they share their stories, skills, shortcuts, failures, and successes.
Meanwhile, MasterClass is said to have raised $240 million in venture capital till date. And according to reports, the latest funding round has pushed the company to a $800 million valuation.