Udacity raises $75M in debt, says its tech education business is profitable after enterprise pivot

Online education tools continue to see a surge of interest boosted by major changes in work and learning practices in the midst of a global health pandemic. And today, one of the early pioneers of the medium is announcing some funding as it tips into profitability on the back of a pivot to enterprise services, targeting businesses and governments who are looking to upskill workers to give them tech expertise more relevant to modern demands.
Udacity, which provides online courses and popularized the concept of “Nanodegrees” in tech-related subjects like artificial intelligence, programming, autonomous driving and cloud computing, has secured $75 million in the form of a debt facility. The funding will be used to continue investing in its platform to target more business customers.
Udacity said that part of the business is growing fast, with Q3 bookings up by 120% year-over-year and average run rates up 260% in H1 2020.
Udacity said


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