Guild Education, an ed tech platform, announced on Wednesday that it raised $150 million in its latest series E funding round, which brings the company's valuation to $3.75 billion. The company plans to support American workers alongside Fortune 1000 companies through bootcamps and non-traditional learning providers to upskill and offer career mobility for its students.
The round was funded by technology and impact investors including Bessemer Venture Partners, Cowboy Ventures, D1, Emerson Collective, General Catalyst, GSV, Harrison Metal, ICONIQ, Redpoint and Salesforce Ventures. That's up from the $1 billion valuation it raised in late 2019, according to the company.
According to Guild, 70% of U.S. companies reported major talent shortages, while automation largely looms as a significant threat to American jobs as 47% of the total U.S. workforce is at risk of being entirely automated. The company wants to support both workers and companies by offering skills education through public and nonprofit universities.
Guild offers programs on its platform that range from entry-level English-language courses and college prep to full degrees and advanced digital certificates in programs like cybersecurity, data analytics and digital marketing. The company also partners with companies like Walmart, Walt Disney, Chipotle, Discover Financial Services and others.
Penelope Blackwell is a reporting fellow at Protocol covering edtech. She reports on the developments in tech that are shaping the future of learning. Previously, she interned at The Baltimore Sun covering emerging news and produced content for Carnegie-Knight's News21 documenting hate and bias incidents in the U.S. She is also a recent graduate of Columbia University's Graduate School of Journalism and Morgan State University.