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Illustration: Aïda Amer/Axios

MasterClass, which sells subscriptions to online courses taught by experts, is raising new funding led by Fidelity at a $2.5 billion valuation, Axios has learned.

The big picture: Online content boomed during the pandemic as people were stuck at home.

  • On the other hand, the pandemic presented production challenges to companies like MasterClass, particularly in terms of filming new content.

Details: San Francisco-based MasterClass last raised money in mid-2020 in another Fidelity-led round, at a reported $800 million valuation.

  • Its instructive courses have featured Spike Lee, Christina Aguilera, Serena Williams, Neil deGrasse Tyson and Gordon Ramsey.
  • The company didn't respond to Axios' request for comment.

Go deeper

Dan Primack, author of Pro Rata
Apr 7, 2021 - Technology

VCs plow money into creator economy companies

Illustration: Rae Cook/Axios

Venture capitalists are plowing money into startups that help content creators to directly monetize their work.

Driving the news: Patreon, a platform that connects creators with fans, today will announce $155 million in fresh funding at a $4 billion valuation.

Exclusive: Texas nonprofit got massive border contract after hiring Biden official

Migrants attempting to enter the United States from Ciudad Juarez, Mexico. Photo: David Peinado/Xinhua via Getty Images

A Texas nonprofit that recently hired a Biden transition official got a contract worth as much as $530 million to help manage the influx of migrant children at the southern border, Axios has learned.

Why it matters: The contract is by far the largest ever awarded to Family Endeavors. It's potentially worth more than 12 times the group's most recently reported annual budget — a sign of the demand the new work will place on its operations.

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