Email
Password
Remember meForgot password?
    Log in with Twitter
Press Release

Feb 27, 2018 17:00 UTC

Udacity Achieves 100% Year-Over-Year Revenue Growth in 2017

MOUNTAIN VIEW, Calif.--(Business Wire)--Udacity, global pioneer in lifelong learning, achieved over 100% year-over-year revenue growth in 2017, with total revenues of approximately $70M. Much of this growth came from new cutting-edge learning programs, enterprise sales and international expansion.

Udacity connects learning to jobs through online, project-based education developed with and for industry. The company ended 2017 with more than eight million enrolled students across free and paid courses, up from five million at the end of 2016.

In late 2014, Udacity launched its Nanodegree® programs, starting with mobile and web development curriculum in collaboration with AT&T and Google. Three years later, more than 50,000 students are currently enrolled in, and over 27,000 have cumulatively graduated from, paid Nanodegree programs.

“Last year we hit our stride in expanding access to lifelong learning that empowers millions of people around the world to improve their careers,” said Vishal Makhijani, CEO of Udacity. “Skills in machine learning and autonomous systems are in high by employers, and a competitive advantage for employees. Udacity is helping close these global talent gaps.”

In 2017, Udacity expanded its programs, partnerships and scholarships:

  • Launched nine new Nanodegree programs: Deep Learning, Digital Marketing, Robotics in collaboration with NVIDIA, ARKit, Google AdWords, Design Sprint, React, Data Foundations and Introduction to Self-Driving Cars.
  • Announced the Flying Cars Nanodegree program at TechCrunch Disrupt SF.
  • Added 60 new partners, including Baidu, Infosys and Lyft, for a total of more than 120 partners.
  • Provided 120,000+ new scholarships for students funded by partners like Bertelsmann, the Dubai Future Foundation, Google, Lyft and the MiSK Foundation.

“We’re heading into 2018 with great revenue growth from consumer, business, government and non-profit customers and partners,” said Nikhil Abraham, CFO of Udacity. “We continue to invest in creating cutting-edge content, attracting students, and teaching skills that prepare our graduates for the most in-demand jobs. We’re also seeing rising demand from employers looking to upskill and reskill their workforces. In 2017, Udacity's average enterprise services deal size doubled as compared to 2016.”

In 2017, international enrollment growth exceeded 200%, such that half of Udacity students are now outside of the U.S. Udacity has students in nearly every country in the world, and now has operations in seven different countries, including the newest office in Dubai, United Arab Emirates. This international expansion was led by Clarissa Shen who was named Chief Operating Officer in November.

“There is tremendous demand for Udacity courses around the world, and we are focused on providing access to valuable education to students wherever they are,” said Makhijani. “Clarissa Shen was our first business hire at Udacity in 2012, and her vision and leadership have increased our global reach and impact on students’ lives.”

Additional 2017 milestones included:

  • More than 400 employees worldwide
  • Expert global project reviewers evaluated 300,000+ projects in 2017
  • Named to MIT Technology Review’s 2017 list of 50 Smartest Companies
  • Rose to #10 on the 2017 CNBC Disruptor 50 list, up from #23 in 2016
  • Honored with European Commission's Digital Skills Award 2017 with Google and Bertelsmann

Udacity executives will be presenting at the following upcoming events:

About Udacity

Udacity is a global, online, lifelong learning platform connecting education to jobs and providing students with skills to advance careers. Udacity Nanodegree programs provide credentials earned through a series of online courses and projects in an array of subjects from self-driving cars and AI to data science and digital marketing. Udacity collaborates with more than 120 global employer-partners including AT&T, Google, Facebook, Mercedes-Benz and NVIDIA to close talent gaps. Headquartered in Mountain View, Calif., the privately-funded company has operations in Brazil, China, Egypt, Germany, India and the United Arab Emirates. Its investors include Bertelsmann, Andreessen Horowitz, Charles River Ventures and Drive Capital. For more information, please visit www.udacity.com.

Udacity
Jeannie Entin, 646-460-9470
jeannie@udacity.com