Raises $103M In First Round Of Funding, 18 Years After Launch

By Megan O'Neill, the online video training site that offers tutorials in everything from animation, video and design to business, architectures, social media and blogging, has just raised $103 million in their first round of outside funding.

The company launched eighteen years ago, in 1995, and according to Liz Gannes of AllThingsD, “has been profitable almost all of that time and had more than $100 million in revenue last year.”

Outside investors have been eyeing the company for years now and finally they have opened things up, raising the $103 million from Accel Partners, Spectrum Equity and Meritech Capital Partners.  Accel and Meritech also backed Facebook. CEO Eric Robinson says, “We’re finally at the place where we can leverage outside funding.”

According to Reuters, the investment will allow to expand internationally, as well as to add content in new subject areas and to improve its platform.  Gannes reports that CEO Robinson is also “interested in looking into different business models, like a freemium offering.”

The site is already massive, with over 83,000 tutorial videos across 1,500 courses, and it will definitely be interesting to see how they will grow and expand.

Megan O’Neill is the resident web video expert here at Social Times.  Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.