By Lynda Weinman | Thursday, January 17, 2013
Lynda on Bloomberg West, January 16, 2013.
Some of you may have heard our big news: lynda.com has raised a $103M investment from Accel Partners, Spectrum Equity, and Meritech Capital Partners.
In our 17-year history, we have never needed investment money because our business has been profitable and self-sustaining. We’ve been approached by investors for the past seven years on a fairly regular basis, and never seriously considered taking an outside investment. Bruce and I covet the creative and financial freedom to chart our own journey, and we weren’t sure what we would do with the money.
What changed? As we’ve grown to more than 400 employees, achieved record revenue numbers, expanded with offices in the United Kingdom and Australia, and built out a stellar executive management team, we now have a clear idea of what to do with the extra funding. Our plan is threefold: increase our content scope and output, improve our delivery platform, and expand internationally.
Bruce and I still hold the majority ownership of lynda.com and continue to be grateful every day for this opportunity to do what we love—we have no intention of changing that! We are really excited to welcome Andrew Braccia from Accel Partners and Vic Parker from Spectrum Equity to our board of directors. They are great investors who share a passion for what we have built, respect our vision, and welcome our deep engagement in the business.
We are thankful to have such an amazing culture, to be part of such an important mission, and to foster the many new ideas that haven’t yet been realized.
Stay tuned for more of what we’ve always created: effective, efficient training that helps people achieve their goals and gain confidence with their skills.
Thank you for all your support over the years, and we hope to continue to earn it for many more years to come!
• Bloomberg: “Lynda.com lands $103 million in biggest education financing”• VentureBeat: “Lynda.com raises $103M to tackle the tech talent crunch“
Watch Lynda’s interview with Robert Scoble about the deal:
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Tags: Accel Partners, EDTECH, Lynda Weinman, Online Learning, Spectrum Equity
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