MasterClass raised $100 million—proof that education technology and entertainment is a winning combination.

WHAT HAPPENED: Masterclass raised $100 million in Series E funding led by Fidelity, bringing its valuation to $800 million. Masterclass had over 30,000 subscribers at launch in 2015 and an annual subscription costs $180.

WHY IT MATTERS

Even with the resurgence of platforms like Coursera and edX that offer free content on various subjects, Masterclass’s growing popularity proves that entertainment-focused education is valuable in a post-COVID world. While stay-at-home orders might have prompted more users to join Masterclass in recent months, the platform’s ubiquitous marketing strategy and its incomparable “Master” line-up make it a more enjoyable learning experience. In addition to its A-list celebrity roster, Masterclass’ high-quality production, open-community forum and 30-minute segments offer students interactive and digestible content, which its competitors should look to replicate. Additionally, as an early leader in the edtech space, Masterclass could potentially expand its offering to help academic institutions translate aspects of classroom learning that are difficult to reproduce online.