Udacity Sees 260% Annual Recurring Revenue Growth, Increased Interest in Corporate and Government Upskilling

MOUNTAIN VIEW, Calif., July 28, 2020 /PRNewswire/ — Udacity, the worldwide on-line studying platform that trains the world’s workforce for the careers of the long run, as we speak revealed a 260% improve in annual recurring income for the primary half of 2020, reflecting a continued diversification of its buyer base.

This development is the results of a pointy improve in demand from companies, authorities businesses, and learners trying to speed up digital transformation and develop abilities in applied sciences which embody synthetic intelligence and machine studying, knowledge science, cloud computing, autonomous techniques, and programming. Udacity has entered into quite a lot of new industrial relationships in 2020 which have helped drive this development, together with a brand new partnership with the United States Air Force’s BESPIN agile improvement lab to upskill airmen in AI, knowledge evaluation, programming, and machine studying. Udacity has additionally entered right into a dedication with Egypt’s Information Technology Industry Development Agency to equip 100,000 younger individuals with tech-forward job abilities.

In addition to those new enterprise alternatives, Udacity has seen improved retention amongst its present prospects — together with the world’s main pharmaceutical firm, 5 of the world’s prime seven aerospace firms, three of the Big Four skilled providers corporations, and two of the 4 branches of the United States Department of Defense. Net greenback retention was over 140% for the corporate within the first half of 2020 with a big proportion of enterprise prospects increasing their license counts, persevering with a development of shoppers tripling their deployments after the preliminary engagement with Udacity.

Following Udacity’s response to COVID-19 to assist laid-off workers, common month-to-month utilization for people was up greater than 50%, and there was a 4x improve in weekly Nanodegree program sign-up charges. Udacity anticipates continued robust demand within the client sector as staff who’ve been displaced by digital transformation and different technological revolutions search the talents wanted for the careers of the long run.

Udacity has additionally continued to develop new content material and collectively launched scholarship alternatives with the main expertise firms in 2020, together with Amazon, Microsoft, Intel, and Alteryx. The Amazon Web Services scholarship garnered greater than 30,000 pre-registrations, representing a $30 million abilities funding into the AWS cloud infrastructure, and the Microsoft Azure ML scholarship program had comparable software charges, reflecting pent-up demand for coaching on these platforms.

Other new initiatives launched within the first half of 2020 embody Udacity’s first government program, AI for Business Leaders (developed in cooperation with the BMW Group), the AI for Healthcare Nanodegree program, and two new Nanodegree applications designed to coach Product Managers.

“New technologies like AI and robotics, and the upheaval caused by COVID-19, have disrupted billions of people’s lives and livelihoods and highlighted the need for individuals, companies, and governments to take responsibility for mastering new skills,” stated Gabe Dalporto, CEO of Udacity. “The strong demand for Udacity’s Nanodegree programs the past six months reflects our commitment to deliver transformational, employable job skills in the careers of the future.”

For extra data on how Udacity is skilling as we speak’s workforce for the careers of tomorrow, please go to udacity.com.

About Udacity
Udacity is a world, on-line coaching platform powering digital transformation and accelerated time-to-market initiatives for Fortune 500 and Global 2000 enterprises. Udacity programs present industry-created practitioner abilities by way of a sequence of “Nanodegree” applications consisting of on-line programs and real-world tasks in synthetic intelligence, machine studying, knowledge science, autonomous techniques, and cloud computing, amongst different disciplines. Udacity collaborates with knowledgeable instructors and over 200 international {industry} companions together with AT&T, Google, Facebook, Mercedes-Benz, and NVIDIA to energy technical training. Headquartered in Mountain View, Calif., the personal firm has operations within the United Kingdom, Egypt, Germany, India, and the United Arab Emirates. Udacity has raised $163 million in funding thus far from traders together with Bertelsmann, Andreessen Horowitz, Charles River Ventures, and Drive Capital. For extra data, please go to www.udacity.com.

Media Contact
Andrea Heuer for Udacity
[email protected]

SOURCE Udacity

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