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Udacity’s Enterprise Business More than Doubles Billings in 2019

January 28, 2020 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Jan 28, 2020--

Udacity Inc., the global leader in technology education, announced today that its enterprise business more than doubled in 2019, continuing its track record of triple-digit year-over-year growth.

Udacity’s Enterprise business saw annual bookings triple, annual billings more than double, and net dollar billings retention finish at 159%. Seller productivity continued to rise even as the sales team more than doubled, highlighting Udacity’s ability to hire top talent and provide its staff with strong enablement and training.

Additionally, Udacity’s Enterprise team closed a record number of seven-figure transactions across multiple regions and more than doubled its roster of enterprise customers, including some of the largest and most innovative employers across the globe. More customers are signing multi-year license contracts, demonstrating enterprises’ recognition that Udacity’s Nanodegree programs deliver a long-term solution to their workforce transformation strategies.

Customers cited the quality and practitioner-level depth of Udacity’s Nanodegree programs as well as its proactive solution architects and customer success teams as primary reasons for choosing Udacity. Udacity’s focus on teaching tech-forward skills such as AI, machine learning, data science/analytics, and cloud engineering also fueled the demand for its offering.

Examples of positive business outcomes from Udacity customers’ digital and workforce transformation initiatives include:

“We set aggressive goals for customer acquisition and retention in 2019, and we are proud of our team for exceeding these ambitious targets,” said Alex Varel, Udacity’s VP of Enterprise. “We also are proud to have maintained excellence while scaling our solution architect, customer success, and enterprise sales teams. We’ll continue to hire and invest in top talent across the globe because like our customers, we know it’s the basis of our competitive advantage.”

To learn more about Udacity’s enterprise offerings, please visit www.udacity.com/enterprise.

About Udacity

Udacity is a global, online learning platform powering digital transformation and accelerated time-to-market initiatives for Fortune 500 and Global 2000 enterprises. Udacity Nanodegree programs provide university-quality practitioner skills through a series of online courses and real-world projects in artificial intelligence, machine learning, data science, autonomous systems, and cloud computing, among other disciplines. Udacity collaborates with expert instructors and over 200 global industry partners including AT&T, Google, Facebook, Mercedes-Benz and NVIDIA to power technical education. Headquartered in Mountain View, Calif., the private company has operations in the United Kingdom, China, Egypt, Germany, India and the United Arab Emirates. Udacity has raised $163 million in funding to date from investors including Bertelsmann, Andreessen Horowitz, Charles River Ventures, and Drive Capital. For more information, please visit www.udacity.com.

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CONTACT: JP Cavender

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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: INTERNET OTHER EDUCATION TECHNOLOGY SOFTWARE EDUCATION

SOURCE: Udacity Inc.

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PUB: 01/28/2020 06:00 AM/DISC: 01/28/2020 06:00 AM

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