The Technology Educator’s Surge in Enterprise Growth Underscores Business Demand for Long-term Workforce Digital Transformation Solutions
SAN FRANCISCO–(BUSINESS WIRE)–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:
- A leading telecommunications company has seen 70% of jobs filled internally by those that have reskilled and avoided thousands of layoffs.
- A global aviation and aerospace manufacturer significantly decreased time-to-market by reducing non-quality remarks 80% during the inspection phase of its newly manufactured aircraft.
- A major UK-based financial services firm saved over $10 million in hiring costs through upskilling vs. hiring new talent.
- A Big Four professional services firm achieved significant improvements in various KPIs among enrolled employees, including substantially higher employee retention rates and millions of hours saved through newly developed software built to automate repetitive, clerical tasks.
- A global energy company is educating its workforce to deploy AI applications at scale and now employs over 200 data scientists and over 800 citizen data scientists working on AI-related initiatives.
“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.
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.