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Dec 14, 2021 - Economy & Business

Exclusive: Course Hero raises $380 million at $3.6 billion valuation

Kia Kokalitcheva
Illustration of a chalkboard with three digital-style dollar signs on it.

Illustration: Brendan Lynch/Axios

Course Hero, a Silicon Valley provider of online class study materials, has raised $380 million in Series C funding at a $3.6 billion valuation led by Wellington Management.

Why it matters: The company is becoming a major education industry acquirer, having recently bought CliffsNotes, LitCharts, QuillBot and Symbolab.

  • These four new properties now contribute more than half of Course Hero's total traffic, according to co-founder and CEO Andrew Grauer.
  • He adds that the company's acquisition spree isn't yet over, as Course Hero wants to provide students not only with expanded resources for current courses, but also into future levels of education (including professional).

Investors in the round include Sequoia Capital Global Equities, OMERS Growth Equity, D1 Capital, GSV Ventures, NewView Capital, SuRo Capital, TPG and Valiant Peregrine Fund.

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