Financial Briefs, July 19, 2019

July 19, 2019 | Volume 50, Number 15

Degreed (San Francisco), the workforce learning and skill-tracking platform, in June raised $35 million in equity funding from existing investors Owl Ventures, Jump Capital, Signal Peak Ventures and GSV Accelerate, and new investor AllianceBernstein Growth Stage Capital. Degreed also closed a $40 million venture debt facility with AllianceBernstein. Degreed plans to use the influx of capital to accelerate international expansion (20% of company revenue comes from outside the U.S.), enhance user skills measurement and insights functionality, and significantly strengthen integration, data science, and client enablement capabilities. Degreed, founded in 2012, increased revenue more than 100% in the past year, doubled the size of sales and client experience teams, merged and integrated its largest competitor Pathgather, and added nearly 100 new clients to its more than 220-organization client list.

Hands-on coding and technology teaching resources provider SAM Labs (Cambridge, MA) raised $8.9 million in first six months of 2019 in a Series A2 equity funding round. Investors in this new fundraising round include Partners in Equity through investor Hans Wackwitz and Inventures Investment Partners through Olivier de Duve. Originally launched with about $160,000 raised on Kickstarter, SAM Labs has secured a total of $19.8 million in investments including this latest round. The company intends to use the funds scale operations and sales in the U.S., its largest market, to supplement the company’s significant international presence, and to bring new education products to markets in the U.S. and U.K.

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