Training Industry Magazine - January/February 2021 - 58

CLOSING
DEALS

REMOTE WORK ACCELERATES
ELEARNING TRENDS AND FUNDING
BY TARYN OESCH DELONG, CPTM

Until 2020, the training market grew
steadily each year. Like most industries,
we took a hit in 2020 - but not every
segment of the market was equally
impacted. Training Industry research
found that, after the pandemic began,
42% of organizations spent more on
learning technologies and 35% on
courses than prior to the pandemic.
As many employees began working
remotely, organizations needed to invest
in the technologies that enable remote
learning. Moreover, from safety training
to virtual leadership, there were a variety
of topics on which organizations needed
new courses. These dynamics are
reflected in the funding activity among
eLearning companies last year.
Last year, Skillshare raised $71 million
in Series D funding. Udacity signed a
$75 million debt facility with Hercules
Capital and increased its annual recurring
revenue by 260%. In February, Udemy
announced a $50 million investment
and a valuation of $2 billion - followed
by a November announcement of
another $50 million in Series F funding.
Meanwhile, in December, Bloomberg
published rumors of a 2021 initial public
offering (IPO) and $5 billion valuation from
Coursera. (Coursera was unavailable to
comment on the possibility of an IPO.)
What kind growth did these companies
see in 2020? Do they expect the growth
to continue this year? Here are just a
few insights:
GROWTH IN ONLINE LEARNING
Skillshare, Udacity and Udemy each
report growth in the number of users

| 58

accessing their platform last year. " At
the height of the pandemic, we saw
new member sign-ups rise by three
to four times, and we're still well over
double our normal volume. Our user
engagement doubled and tripled in
most markets, " says Matt Cooper, chief
executive officer of Skillshare.
As Kirk Werner, vice president of content
at Udacity, points out, " COVID-19 has
accelerated the demand for online
learning, as the traditional alternatives
- 'bootcamps' and in-person academic
offerings - became no-go zones. "
Udacity's enterprise business doubled
in 2018 and 2019 and, as of December,
was expected to do so again in
2020. Last year, course engagement
among customers increased by 50%.
Consumer access was also up, partly
due to Udacity's scholarship program for
displaced workers.
Udemy also saw a " significant surge in
online learning on [its] platform, " says vice
president of customer success, Stephanie
Stapleton. Like Udacity, Udemy made an
effort to reach people struggling with the
pandemic, creating a " curated collection of
free Udemy courses in over 15 languages "
on topics such as working from home or
finding a job.
CHANGING CONTENT
PREFERENCES
Microlearning is here to stay. " People
want to learn about something, but in a
snackable way, " says Cooper. Skillshare
has even begun offering " bite-sized
virtual live classes, " a trend he's seeing
in online learning in other verticals, like
fitness classes. Similarly, while " consumer

behaviors were already beginning to shift
pre-pandemic to embrace more videobased learning, " the pandemic saw
engagement with online video " double
and triple " at Skillshare.
The skills organizations sought out were
largely unchanged - but accelerated
- in 2020. Udemy saw " strong growth
in technical categories, " according to
Stapleton, but also in " lifestyle and
health support. " While the ability to work
in a high-tech environment is important,
wellness and soft skills are also in high
demand. Skillshare's decision in 2019
to focus on creativity has brought
the company success. " Skills like
creativity, leadership, collaboration [and]
communication are going to play a
more critical role in people's lives, "
Cooper says.
THE IMPORTANCE OF
CONTINUOUS LEARNING
2020 threw into sharp relief the
importance of continuous learning.
Werner points out that " the World
Economic Forum, the U.S. government
and many employers realize that skills
are far more important than credentials, "
and employees are following suit.
" Continuous learning - for upskilling or
reskilling to find new employment or to
increase job security - is table stakes for
the modern world, " says Stapleton. By
providing access to continuous learning,
eLearning companies will likely continue
to see growth in 2021 and beyond.
Taryn Oesch is the managing editor of
digital content at Training Industry, Inc.
Email Taryn.


https://store.trainingindustry.com/products/training-in-the-time-of-covid-how-learning-and-develpment-is-responding https://www.trainingindustry.com/glossary/soft-skills/ https://www.trainingindustry.com/press-release/e-learning/skillshare-raises-funding-from-adobe/ https://www.trainingindustry.com/press-release/e-learning/skillshare-raises-funding-from-adobe/ https://www.trainingindustry.com/press-release/e-learning/skillshare-raises-funding-from-adobe/ https://www.trainingindustry.com/press-release/e-learning/udacity-drives-120-enterprise-and-government-growth-in-q3-secures-75-million-to-continue-momentum/ https://www.trainingindustry.com/press-release/e-learning/udacity-drives-120-enterprise-and-government-growth-in-q3-secures-75-million-to-continue-momentum/ https://www.trainingindustry.com/press-release/e-learning/udemy-secures-50-million-investment-from-long-time-partner-benesse-holdings/ https://www.trainingindustry.com/press-release/e-learning/udemy-secures-50-million-investment-from-long-time-partner-benesse-holdings/ https://www.trainingindustry.com/press-release/e-learning/udemy-raises-50-million-to-fuel-accelerated-global-demand-for-online-learning/ https://www.bloomberg.com/news/articles/2020-12-04/online-education-firm-coursera-is-said-to-weigh-2021-ipo https://www.bloomberg.com/news/articles/2020-12-04/online-education-firm-coursera-is-said-to-weigh-2021-ipo

Training Industry Magazine - January/February 2021

Table of Contents for the Digital Edition of Training Industry Magazine - January/February 2021

The Rise of Virtual Learning
Table of Contents
Augmented Reality and the New Normal for Digital Learning
Online Learning Is More Than Video Conferencing
Virtually All of Them!
Leveraging Diversity and Inclusion in Virtual Training
The ABCs of Minimizing Sensory Overload
Leveraging Simple Digital Card Games to Teach Sales, Negotiation and Leadership Skills
Tomorrow's Learning Experience: 100% Digital and 100% Human
Measuing Virtual Training: Strategies for Success
The Best of Both Worlds: Bridging In-person Training into a Virtual Space
5 Trends that will Humanize the Future of Learning
Practice for Success: Sales Training Simulations Are an Essential Tool for Every Sales Trainer's Toolbox
The Engineering Art of the Interactive Narrative
Do's and Don'ts of Meaningful eLearning
The Rise of Virtual and Hybrid Classroom Delivery
There's a New Sheriff in Town: The Learner's Supervisor
Enhance Learning Agility and Innovation with Virtual Reality
Managing Your Virtual Learning Journey
Remote Work Accelerates eLearning Trends and Funding
Company News
Training Industry Magazine - January/February 2021 - Intro
Training Industry Magazine - January/February 2021 - 1
Training Industry Magazine - January/February 2021 - 2
Training Industry Magazine - January/February 2021 - CT1
Training Industry Magazine - January/February 2021 - CT2
Training Industry Magazine - January/February 2021 - The Rise of Virtual Learning
Training Industry Magazine - January/February 2021 - Table of Contents
Training Industry Magazine - January/February 2021 - 5
Training Industry Magazine - January/February 2021 - 6
Training Industry Magazine - January/February 2021 - 7
Training Industry Magazine - January/February 2021 - 8
Training Industry Magazine - January/February 2021 - Augmented Reality and the New Normal for Digital Learning
Training Industry Magazine - January/February 2021 - 10
Training Industry Magazine - January/February 2021 - Online Learning Is More Than Video Conferencing
Training Industry Magazine - January/February 2021 - 12
Training Industry Magazine - January/February 2021 - Virtually All of Them!
Training Industry Magazine - January/February 2021 - 14
Training Industry Magazine - January/February 2021 - Leveraging Diversity and Inclusion in Virtual Training
Training Industry Magazine - January/February 2021 - The ABCs of Minimizing Sensory Overload
Training Industry Magazine - January/February 2021 - 17
Training Industry Magazine - January/February 2021 - 18
Training Industry Magazine - January/February 2021 - 19
Training Industry Magazine - January/February 2021 - Leveraging Simple Digital Card Games to Teach Sales, Negotiation and Leadership Skills
Training Industry Magazine - January/February 2021 - 21
Training Industry Magazine - January/February 2021 - 22
Training Industry Magazine - January/February 2021 - 23
Training Industry Magazine - January/February 2021 - 24
Training Industry Magazine - January/February 2021 - Tomorrow's Learning Experience: 100% Digital and 100% Human
Training Industry Magazine - January/February 2021 - 26
Training Industry Magazine - January/February 2021 - 27
Training Industry Magazine - January/February 2021 - 28
Training Industry Magazine - January/February 2021 - Measuing Virtual Training: Strategies for Success
Training Industry Magazine - January/February 2021 - 30
Training Industry Magazine - January/February 2021 - 31
Training Industry Magazine - January/February 2021 - The Best of Both Worlds: Bridging In-person Training into a Virtual Space
Training Industry Magazine - January/February 2021 - 33
Training Industry Magazine - January/February 2021 - 34
Training Industry Magazine - January/February 2021 - 35
Training Industry Magazine - January/February 2021 - 5 Trends that will Humanize the Future of Learning
Training Industry Magazine - January/February 2021 - 37
Training Industry Magazine - January/February 2021 - Practice for Success: Sales Training Simulations Are an Essential Tool for Every Sales Trainer's Toolbox
Training Industry Magazine - January/February 2021 - 39
Training Industry Magazine - January/February 2021 - 40
Training Industry Magazine - January/February 2021 - 41
Training Industry Magazine - January/February 2021 - The Engineering Art of the Interactive Narrative
Training Industry Magazine - January/February 2021 - 43
Training Industry Magazine - January/February 2021 - 44
Training Industry Magazine - January/February 2021 - 45
Training Industry Magazine - January/February 2021 - Do's and Don'ts of Meaningful eLearning
Training Industry Magazine - January/February 2021 - 47
Training Industry Magazine - January/February 2021 - 48
Training Industry Magazine - January/February 2021 - 49
Training Industry Magazine - January/February 2021 - The Rise of Virtual and Hybrid Classroom Delivery
Training Industry Magazine - January/February 2021 - 51
Training Industry Magazine - January/February 2021 - 52
Training Industry Magazine - January/February 2021 - There's a New Sheriff in Town: The Learner's Supervisor
Training Industry Magazine - January/February 2021 - 54
Training Industry Magazine - January/February 2021 - Enhance Learning Agility and Innovation with Virtual Reality
Training Industry Magazine - January/February 2021 - 56
Training Industry Magazine - January/February 2021 - Managing Your Virtual Learning Journey
Training Industry Magazine - January/February 2021 - Remote Work Accelerates eLearning Trends and Funding
Training Industry Magazine - January/February 2021 - Company News
Training Industry Magazine - January/February 2021 - 60
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