Online personal and professional continuing education company lynda.com has raised $186 million at a roughly $1 billion valuation to go shopping for education technology companies.
It’s the second mammoth round for Lynda, following a $100 million initial investment from Accel Partners, Spectrum Equity and Meritech. The new round was led by TPG, a private equity firm with some $65 billion worth of assets under management.
For lynda.com, the new round is all about a shopping allowance. The company already has letters of intent out with three potential acquisition targets and has several more companies in its sights, according to an interview with the company’s chief executive, Eric Robison.
One investor familiar with the market for online education said that the company may look to bring in programming tutorial companies like Thinkful (which raised a round of funding recently) or Treehouse (which hasn’t).
Lynda.com divides its profitable business…
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