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New York University professor Scott Galloway’s business education startup Section4 has received a $30 million Series A led by General Catalyst.
Other investors participating in the round were Learn Capital and GSV Ventures. The Series A brings the company’s total funding to $37 million.
Section4 is an online education platform aimed for professionals wanting to learn from the world’s best business school instructors while also looking for a cheaper option than a traditional MBA.
“Elite MBA education is the most scarce product in the world,” Galloway told Insider. “Globally recognized, transformative in value, and available to less than .01% of the population. We aim to change that.”
The platform’s learning is conducted in “sprints” ranging in focus from product to brand to strategy. The sprints are intensive courses that mix live lectures, lessons and case studies to Section4 students. Professors of the platform come from NYU Stern, Kellogg, Stanford University and Berkeley Haas. There are over 10,000 users of Section4 in 97 countries.
Section4’s Series A comes as more and more venture capital money goes into the edtech industry. Last year, edtech startups received $13.3 billion in global VC funding passing the previous record in 2018 by 50%, according to Pitchbook data.
Galloway founded Section4 in 2018 and has previously been backed by Jeff Bewkes and Tim Armstrong, former respective CEOs of Time Warner and AOL. The company will use the money to fuel content, expand its team and focus on democratizing elite business school education, according to the release.