Naspers Ltd., Africa’s biggest company by market value, invested $60 million in online-learning provider Udemy, capital the U.S. startup will use to expand in international markets and add local courses.
Udemy has grown significantly over the past year and now offers more than 40,000 courses in 80 different languages, Cape Town-based Naspers said in a statement on its website on Thursday. The deal follows Udemy’s $65 million 2015 fundraising, led by New York-based Stripes Group.
The investment is the second to be made out of Naspers’s newly opened office in San Francisco after leading a $15 million injection in education-technology company Brainly last month. Naspers has grown into a 1 trillion rand ($64 billion) company through investing mainly in emerging-market internet companies, notably China’s Tencent Holdings Ltd. and Mail.ru Group Ltd. of Russia.
“Naspers is consistently looking to invest in markets where technology can make a significant impact,” said Larry Illg, chief executive officer of Naspers Ventures. “Udemy has built a technology platform that will transform education on a global scale and we are eager to help them with further expansion.”