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MasterClass, Purveyor of Celebrity Online Courses, Raises $35 Million Led by IVP

MasterClass, which sells internet-video courses led by celebs including Kevin Spacey, Christina Aguilera and Gordon Ramsay, has closed $35 million in financing led by IVP. The Series C round brings the San Francisco-based startup’s total funding to $56.4 million. The latest funding included participation from new investors GSV Acceleration and Sam Lessin as well as existing investors New Enterprise Associates, Javelin Venture Partners, Michael Bloomberg’s Bloomberg Beta, Advancit Capital, Novel TMT, MX Investments, and Yan-David Erlich. MasterClass plans to use the funding to increase hiring and add more courses from celebrities and other professionals, said CEO and co-founder David Rogier. Currently at about 50 employees, the company plans to more than double headcount by the end of 2017. MasterClass also is aiming to double the number of courses this year, from 16 today (12 launched so far and four more in the works).

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