Digital learning platform raises €3.5 million for expansion

Summary

DataCamp has won funding from a US venture capital firm to help tailor its training packages for companies such as Deloitte and Airbnb

Accelerating development

A Flemish company offering online training on data analysis has raised €3.5 million from an American venture capital firm.

DataCamp was established at the end of 2013 by Jonathan Cornelissen, Martijn Theuwissen and Dieter De Mesmaeker. As well as its headquarters in Leuven, it has an office in Cambridge, Massachusetts.

The company offers a learning platform with interactive online lessons on data analysis, according to a “freemium” model: the first hour of the modules is free, but users have to pay for the rest. The platform has about one million users, with the free introduction courses being the most popular. About 30,000 people are currently paying for courses.

DataCamp has an annual turnover of €8 million. To accelerate its development, it has raised €3.5 million from Arthur Ventures, which mainly focuses on technology companies outside California’s Silicon Valley.

The main target group is staff in the business world: 40% of current users are employees at companies. Large companies like consultancy firm Deloitte and online tourist accommodation platform Airbnb both require staff to take a DataCamp course. Among the other users, one in five is a student and one in 10 a professor.

With the capital injection, DataCamp plans to create separate lesson packages to meet companies’ specific needs.

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