Founded in 2013, Platzi offers Spanish- and Portugese-language live-streamed classes for courses that include programming, marketing, design and business. Now, the company has raised $6 million in a Series A round led by venture capital firm Foundation Capital.
The platform has served one million students to date, and the company claims course completion rates hover between 50 and 70 percent. The company also boasts a sizable headcount of 117 full-time employees.
The company offers subscription plans for $29 a month or $299 a year, with company discounts based on volume. It has over 300 courses and produces 30 new courses or course updates a month, accepting payment from 20 different currencies.
“Right now Latin America is super hot and the need for talent is amazing,” says Freddy Vega, co-founder of Platzi. “We’re training the next generation.”
A McKinsey report states that 40 to 50 percent of Latin American employers say most entry-level job vacancies are due to candidates’ lack of skills.
“A lot of companies talk about changing the world,” he says. “We’re not going to be able to change the world, but we may be able to change the economy of a region.”
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