Driven by expanding partnerships and booming demand, the business grew by more than 150 percent in the first six months
SAN FRANCISCO–(BUSINESS WIRE)–Udacity, global leader in technology education, today revealed another record-breaking year so far for enterprise growth. In just the first half of the year, Udacity achieved more than 150 percent enterprise growth in worldwide bookings, driven by more than 20 new Fortune 500 enterprise customers and record customer retention rates. The momentum continues well into 2019, with expansion among existing customers and a 150 percent dollar retention rate. This success comes on the heels of a banner year in 2018, when the business also grew by 100 percent.
Enterprise companies are currently undergoing a massive shift–every company is becoming a software or data-driven company, looking for ways to combine human talent with next-generation technology. To support and accelerate this shift, Udacity is helping to close the skills gap and meet the technology needs of some of the world’s most influential businesses, most notably some of the world’s largest telecommunications companies. One of these customers successfully transitioned more than 30 of its engineers into artificial intelligence experts in just three months, dramatically increasing patent submissions and realizing millions in ROI.
“One of our key differentiators at Udacity is how we work with our customers to reorient the conversation around the skills gap,” said Alex Varel, VP of Enterprise Sales, Udacity. “We are technology consultants first, with a passion and fluency in the businesses we work with. We have prescriptive strategic conversations upfront with companies to ensure we understand their needs and properly capture the opportunity. We then will recommend tailored cohort learning paths, driven by a sequence of Udacity Nanodegree programs that align to the achievement of their technology goals. Our growth is a direct result of this collaborative and consultative approach.”
As the momentum continues into Q3, other key drivers for the business growth include:
- Booming Demand for AI and Data Science: More than 60 percent of new enterprise customers are enrolling their employees in Udacity’s Schools of Data Science and Artificial Intelligence Nanodegree programs, indicating that customers are increasingly – and repeatedly – relying on Udacity’s Nanodegree programs to upskill their own employees while helping to close the talent gap in the labor market.
- A Thriving Customer Portfolio: Since the beginning of the year, Udacity expanded its customer roster across core vertical markets around the globe: automotive, banking, technology services, and manufacturing. With the momentum continuing into Q3, Udacity has expanded its customer roster to include Airbus, AUDI, Bertelsmann, Mars Inc., Mazda and Turkcell, among others.
- A Growing Global Team: To bolster Udacity’s position in the market, Varel and Udacity have quadrupled staff in the last few quarters, hiring top-performing leaders, software solutions engineers, and sales executives in key posts in London, Berlin, Boston, Chicago, San Francisco, Portland, New York, Dallas, and Philadelphia.
To learn more about Udacity’s enterprise offerings, please visit www.udacity.com/enterprise.
Udacity is a global, online lifelong learning platform connecting education to jobs and providing students with skills to advance careers. Udacity Nanodegree programs provide credentials earned through a series of online courses and projects from self-driving cars to digital marketing. Udacity collaborates with expert instructors and over 200 global industry partners including AT&T, Google, Facebook, Mercedes-Benz and NVIDIA to power careers through tech education. Headquartered in Mountain View, Calif., the privately-funded company has operations in China, Egypt, Germany, India and the United Arab Emirates. Its investors include Bertelsmann, Andreessen Horowitz, Charles River Ventures and Drive Capital. For more information, please visit www.udacity.com.
Sutherlandgold for Udacity