Pluralsight, an online technical training company, successfully raised $27.5 million as online education becomes one of the go-to sectors for innovation and revenue potential. Insight Venture Partners recognized the opportunity, providing the necessary funds to allow Pluralsight to take its success to the next level.
A recent All Things D report highlighted the company’s latest announcement, which is expected to help Pluralsight increase course production and expand enterprise sales throughout the global market. The Salt Lake City-based online education company offers 400 courses that address topics such as C# and HTML5. Even students seeking to learn more about Windows Azure and Salesforce’s Force.com can find the appropriate tutorial from Pluralsight.
After eight years in business, Pluralsight appears to have a profitable strategy in place, reporting 40-percent profit margins. For $29 per month, a customer can enjoy unlimited access to classes. Offline access, considered an additional feature, is $49. Pricing and positioning must be right as the company enjoyed nearly $16 million in revenue in 2012, nearly double the $6 million it recorded in 2011.
On the path for continued rapid growth and profitability, one key to Pluralsight’s success appears to be in the way the company takes care of its instructors. More than $500,000 in royalties has been paid to the top author on the platform creating video courses. The average for the more than 100 teachers currently involved exceeds $35,000 per year.
Professionals seeking additional training on how to build HTML5 apps with the use of Knockout, ASP.NET (News - Alert) and jQuery can access courses from John Papa on Pluralsight. According to this Weblogs page, Pluralsight is offering a free one-month subscription that allows customers to watch these courses at no cost and no obligation to purchase anything after participating in the course. Access to the course is also available through Twitter (News - Alert).
To date, more than 200,000 students have come to Pluralsight to learn HTML5, coding and a variety of other topics. Roughly half of these students are seeking personal development, with the other half supported by their employers. The constant demand for excellence in the technology field is driving the demand for access to quality training courses. While Pluralsight is considered on the small side in this market, its rapid growth and recent infusion of cash indicates 2013 will be an exciting year.
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Edited by Rachel Ramsey