Pluralsight has received a USD27.5m investment from Insight Venture Partners to accelerate its expansion.
The financing marks the first outside investment in Pluralsight, which was founded in 2004 as a classroom-based training company, designed for developers by developers.
In 2008, Pluralsight began a major pivot to move its training business completely online, with the goal of providing the same professional content through a flexible subscription model priced for worldwide scale. Today, Pluralsight has more than 200,000 users in more than 100 countries and offers more than 400 online courses, with 15 to 20 new releases per month. Pluralsight offers anytime, anywhere access to its entire library for as little as USD29 a month.
"This investment is a big leap in Pluralsight’s journey," says Aaron Skonnard, chief executive and co-founder of Pluralsight. "So far, we have had great success in building a profitable and sustainable business with our own funds. With this deal, we get both the financial and intellectual capital of Insight Venture Partners to really accelerate our growth at what we believe to be a critical time in the market."
"It’s no secret that online education is becoming a mainstream learning and training method," says Ryan Hinkle, a partner at Insight Venture Partners. "Pluralsight has carved a big niche by appealing to software developers, an audience ideally suited to online learning. We believe the opportunities for developers will continue to expand exponentially and Pluralsight is positioned to take advantage of that. Insight sees great prospects for this business."
