Coding class platform Codecademy has sold to Skillsoft for $525 million, in a mix of stock and cash, marking yet another instance of consolidation in the educational technology sector. The sale comes nearly a year after Codecademy raised a $40 million Series D and pivoted its consumer-focused product to serve more enterprise customers.
Then CEO and founder Zach Sims said that the money would be used to acquire businesses, build out India operations and scale its budding enterprise business. Today, Sims said that nothing’s changed, but realized that combining forces with Skillsoft would help him scale “Codecademy even faster than we’d be able to independently.” The company even beat out a slew of other offers, he said.
“I think the future of a lot of education companies is one that mixes consumer and education, and I think here we’re bringing together the leader in consumer technology education with the leader in enterprise education to create a new full-stack leader,” he said. “That was just something that other companies couldn’t compet …
