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Illustration: Rebecca Zisser / Axios

Guild Education, a Denver-based education benefits platform for Fortune 1000 companies, raised $157 million in Series D funding led by General Catalyst at a $1 billion post-money valuation.

Why it matters: Guild's mission is to help workers catch the increasingly elusive American dream, by better enabling them to obtain degrees and credentials required for higher-paying jobs.

  • Other investors included Emerson Collective, Iconiq Capital, Lead Edge Capital, and return backers Workday Ventures, Salesforce Ventures, Next Play Capital, Silicon Valley Bank, Felicis Ventures, Bessemer Ventures, Redpoint Ventures, and Harrison Metal. General Catalyst partner Ken Chenault, former CEO of American Express, will join Guild's board of directors.

The bottom line: "The cost of digital education for higher ed just keeps skyrocketing, and Google and Facebook are making a killing on it. Universities typically spend between $4,000-$6,000 to acquire a Bachelor's student and up to $14,000 for a Masters degree student. We get paid out of the savings universities realize for not having to pay through those channels," Rachel Carlson, co-founder and CEO of Guild Education, said.

Go deeper:

Go deeper

Stalemate over filibuster freezes Congress

Illustration: Sarah Grillo/Axios

Senate Majority Leader Chuck Schumer and Mitch McConnell's inability to quickly strike a deal on a power-sharing agreement in the new 50-50 Congress is slowing down everything from the confirmation of President Biden's nominees to Donald Trump's impeachment trial.

Why it matters: Whatever final stance Schumer takes on the stalemate, which largely comes down to Democrats wanting to use the legislative filibuster as leverage over Republicans, will be a signal of the level of hardball we should expect Democrats to play with Republicans in the new Senate.

Dave Lawler, author of World
2 hours ago - World

Biden opts for five-year extension of New START nuclear treaty with Russia

Putin at a military parade. Photo: Valya Egorshin/NurPhoto via Getty

President Biden will seek a five-year extension of the New START nuclear arms control pact with Russia before it expires on Feb. 5, senior officials told the Washington Post.

Why it matters: The 2010 treaty is the last remaining constraint on the arsenals of the world's two nuclear superpowers, limiting the number of deployed nuclear warheads and the bombers, missiles and submarines which can deliver them.

Updated 2 hours ago - Technology

Facebook refers Trump ban to independent Oversight Board for review

Photo: Alex Edelman/AFP via Getty Images

Facebook's independent Oversight Board has accepted a referral from the platform to review its decision to indefinitely suspend former President Trump.

Why it matters: While Trump critics largely praised the company's decision to remove the then-president's account for potential incitement of violence, many world leaders and free speech advocates pushed back on the decision, arguing it sets a dangerous precedent for free speech moving forward.