{"id":61484,"date":"2021-04-13T15:59:15","date_gmt":"2021-04-13T15:59:15","guid":{"rendered":"https:\/\/explore.local\/2021\/04\/13\/series-d-funding\/"},"modified":"2025-04-04T19:46:24","modified_gmt":"2025-04-04T19:46:24","slug":"series-d-funding","status":"publish","type":"post","link":"https:\/\/degreed.com\/experience\/de\/blog\/series-d-funding\/","title":{"rendered":"The History of Degreed: Mission-Driven Momentum"},"content":{"rendered":"\n

Novelist Robert Louis Stevenson made the case for patiently taking iterative actions that add up to something big: \u201cDon\u2019t judge each day by the harvest you reap, but by the seeds that you plant.\u201d<\/p>\n\n\n\n

That timeless take is reflected in Degreed\u2019s history, and perhaps even more so when we\u2019ve got big news \u2014 like the $153 million in Series D funding we announced today, valuing the company at $1.4 billion. The investment will be used to fuel innovation and generate value for our clients by accelerating product development, enhancing data infrastructure, and continuing our global expansion as we pursue new, strategic acquisitions.<\/p>\n\n\n\n

That\u2019s not all, though. Dan Levin, former COO of Box, will succeed Chris McCarthy as CEO of Degreed. Chris is stepping back after almost eight years here to address a chronic back issue, but he\u2019ll remain in a strategic advisory capacity and sit on the Degreed Board of Directors. It was a very difficult decision for Chris to make, and he was heavily involved in the months-long succession process to ensure this transition is smooth and successful. <\/p>\n\n\n\n

We\u2019ve always worked to plant new seeds \u2014 for our own growth and our customers\u2019 success \u2014 from our scrappy start nearly a decade ago, through every strategic evolution, and continuing today.<\/p>\n\n\n\n

To understand where we’re going with this new resourcing and leadership, we always remember where we’ve been.<\/p>\n\n\n\n

\"Major<\/figure>\n\n\n\n

The Beginning: A Fresh Look at Learning<\/h2>\n\n\n\n

Degreed was created on a simple premise: Education is too important to stay the way it is<\/em>.<\/p>\n\n\n\n

Co-founders David Blake and Eric Sharp set out to jailbreak the college degree. \u201cIt should be our skills, irrespective of how or where we develop them, that should be what determines our opportunities, and I wanted to be part of the solution,\u201d Blake said<\/a>.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The Early Years: Culture and Momentum<\/h2>\n\n\n\n

McCarthy, who joined Degreed as COO in 2013 and succeeded Blake as CEO in 2018, frequently slept at the office and cold called learning leaders to get product feedback. \u201cWe\u2019ve built something brick by brick,\u201d he said.<\/p>\n\n\n\n

At first, Degreed was a business-to-consumer (B2C) platform, satisfying consumer demand for a portal that connects people with lifelong learning from a wide range of aggregated sources. But there was more to come.<\/p>\n\n\n\n

Evolution and Expansion  <\/h2>\n\n\n\n

A key product evolution came in 2015 with a shift from B2C to a predominantly business-to-business (B2B) strategy. The goal was to build something scalable, secure, and most importantly, impactful \u2014 an experience laser-focused on the needs of workers.<\/p>\n\n\n\n

This led to new features that are still core to our product today: Pathways and Groups. The product we pioneered became known as<\/a> a learning experience platform (LXP) \u2014 a reflection of our initial focus on integrating learning resources from a variety of systems and apps. As we added more sophisticated capabilities, we evolved into an intuitive workforce upskilling platform, broadening our customer base from learning leaders to talent, HR, and technology leaders, too. <\/p>\n\n\n\n

Our 2016 acquisition of Gibbon<\/a> brought depth to our content curation and product design. And our 2018 acquisition of Pathgather<\/a> made Degreed more social while adding admin functionality.<\/p>\n\n\n\n

Today, Degreed has expanded to three core products<\/a>: Learning Experience, Career Mobility, and Skill Analytics. We help business leaders understand the supply and demand for skills across their organizations and connect people\u2019s skills to internal opportunities like projects, stretch assignments, and gig work, creating value for both the business and your people.<\/p>\n\n\n\n

\"Don't<\/figure>\n\n\n\n

Explosive Growth: Funding, People, Customers <\/h2>\n\n\n\n

Including today\u2019s announcement, Degreed has received more than $335 million in total funding, enabling us to expand significantly.<\/p>\n\n\n\n

More than 570 employees across 13 countries work at Degreed, and we expect to employ more than 600 people by the end of this year. Drawn to Degreed by its mission and culture, people like it here and tend to stick around. <\/p>\n\n\n\n

In 2019, we acquired Adepto<\/a> to help our customers identify skills that are in demand and bridge skills gaps by intelligently matching internal and<\/em> external workers to new work opportunities. In another important milestone, we partnered with LearnUpon<\/a> in early 2020. Now our customers can easily access the LMS features they need along with our learning experience platform in a single investment. Since then, we\u2019ve gained additional partners, such as TED<\/a> and Pluralsight<\/a>, among others.<\/p>\n\n\n\n

Along the way, we\u2019ve consistently expanded our customer base domestically and internationally. Today, we serve hundreds of the world\u2019s most innovative organizations in over 27 countries. Owing to this success, our flagship virtual conference, the annual Degreed LENS Lite<\/a>, last year drew more than 12,000 registered participants from more than 90 countries.<\/p>\n\n\n\n

We\u2019re Not Even Close to Being Done<\/h2>\n\n\n\n

Throughout our history, we\u2019ve been highly intentional about how Degreed has developed as a company and as a product. This remains a top priority, said Kat Kennedy, President and Chief Experience Officer. She was employee No. 1, hired by the co-founders. <\/p>\n\n\n\n

\u201cThriving<\/a> employees are eight times more likely to work for a company that they trust will provide them with career opportunities, even if their job changes or goes away,\u201d Kat said. \u201cAnd businesses that can quickly reallocate talent to the most critical strategic priorities are more than twice as likely<\/a> to outperform their competitors on total returns to shareholders. That\u2019s exactly what Degreed does, and it\u2019s the picture we are working to make a reality at each of the organizations we are lucky to serve.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Novelist Robert Louis Stevenson made the case for patiently taking iterative actions that add up to something big: \u201cDon\u2019t judge each day by the harvest you reap, but by the seeds that you plant.\u201d That timeless take is reflected in Degreed\u2019s history, and perhaps even more so when we\u2019ve got big news \u2014 like the […]<\/p>\n","protected":false},"author":118,"featured_media":61489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[570],"tags":[578],"post_folder":[],"class_list":["post-61484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-about-degreed","tag-inside-degreed"],"acf":[],"yoast_head":"\nThe History of Degreed: Mission-Driven Momentum - Degreed<\/title>\n<meta name=\"description\" content=\"The story of Degreed gains another chapter today. 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