NewSpring has invested in Skillshare, an online creative learning platform. No financial terms were disclosed.
RADNOR, PA – November 2, 2020 – NewSpring (the “Firm”), a family of private equity strategies, today announced that NewSpring Growth, the Firm’s dedicated growth and expansion strategy, has invested in Skillshare, the world’s largest online learning community for creativity.
Skillshare is an online creative learning platform with an industry-leading catalog of 30,000 classes, supported by a community of more than 12 million registered members and nearly 8,000 teachers. The company offers pre-recorded classes, workshops, live sessions, and collaboration tools that enable its members to harness their passions and learn creative skills across illustration, graphic design, fine art, photography, marketing, animation, film and video, freelance, and much more.
Over the last several years, the global e-learning and development market has grown into a $375 billion market. With in-person learning largely shut down during the pandemic and people spending more time at home, online creative learning has exploded as a form of entertainment and personal development. As an early leader in this business, Skillshare has ample room to grow as it continues to add content to its platform and extend its reach to more subscribers in the U.S. and abroad.
“Skillshare has built a highly-scalable content creation model that draws in teachers and content creators to support the company’s growth as more individuals turn to online learning for professional and creative development,” said NewSpring General Partner Marc Lederman. “With its growing presence internationally and in the enterprise space, the company has strategically targeted largely untapped markets for growth and is well-positioned to capture a meaningful share in these areas. We’re thrilled to see where this business goes as more people around the world continue to pursue their creative passions.”
In response to a surge in international demand, the proceeds of this transaction will primarily be used to create a localized experience for international students, while continuing to expand domestically and grow Skillshare’s enterprise offering. The funds will also create more opportunities for Skillshare’s teachers. Skillshare will invest in tools that increase engagement between students and teachers, expand teachers’ audiences through dedicated marketing efforts, and create new formats for teachers to earn revenue.
“It is estimated that nearly 4 billion people across the globe have a creative profession or passion. At Skillshare, we’re working to make sure all of those people have access to training and support that enables them to harness that creative energy and put it into real-life practice,” said Skillshare CEO Matt Cooper. With our new partners at NewSpring, we’re thrilled to continue growing our business by bringing creative learning to the world.”
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 150 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.
Skillshare is the world’s largest online learning community for creativity. With more than 12 million registered members and over 30,000 video-based classes in a wide range of creative disciplines from graphic design to photography to painting and illustration to interior design—taught by industry experts including Roxane Gay, Aaron Draplin, Shantell Martin, Emily Henderson and Simon Sinek—Skillshare’s mission is to support professional and personal growth through creativity. To learn more, go to: https://www.skillshare.com/