Insight Venture Partners has made the first outside investment in online software development education company Pluralsight through a $27.5m financing.
The company was founded as a classroom-based developer training company in 2004 but made the move to become entirely online four years later through a subscription model.
Pluralsight says it now has more than 200,000 users in over 100 countries, and offers in excess of 400 courses from experienced authors.
The company said it would use the new funds to speed up expansion of its course library to provide more breadth and depth in topic areas of interest to software developers.
Insight partner Ryan Hinkle said, “It’s no secret that online education is becoming a mainstream learning and training method.
“Pluralsight has carved a big niche by appealing to software developers, an audience ideally suited to online learning.
“We believe the opportunities for developers will continue to expand exponentially and Pluralsight is positioned to take advantage of that. Insight sees great prospects for this business.”
Insight will have two seats on Pluralsight’s seven-member board of directors.
The investment its Insight’s second in the sector in under a month following it leading a $12m Series B round for online education marketplace Udemy in mid-December.
Copyright © 2013 AltAssets