Degreed Strengths, Domain Expertise, and Key Differentiators
Degreed offers a comprehensive learning ecosystem, with access to the world's largest ecosystem of professional learning resources, including 250,000 online courses and 3 million informal learning activities from various sources. Its content library can be combined with an organization's proprietary content to create custom pathways.
Degreed's social learning feature provides the largest social network for learning, connecting learners and experts. The platform excels in personalized learning, with recommendations refreshed daily, personalized search results, and a customized browsing experience.
FlexED by Degreed introduces a flexible spending account for self-directed learning, allowing employees to pay for learning content and experiences. Additionally, Degreed provides comprehensive reporting and analytics, offering real-time insights into all types of learning within an organization.
Degreed Recent Developments
Degreed, the upskilling platform, has been making significant strides in the world of corporate learning. With a presence in over 200 countries and more than eight million users, it has established itself as one of the few open and independent Learning Experience Platforms (LXP). The recent integration of Degreed's LXP with SAP® SuccessFactors® Learning further enhances its capabilities, empowering enterprise clients to curate personalized learning experiences, track employee learning activities, and inform upskilling and workforce planning within a unified platform.
In terms of financial performance, Degreed's Series D funding round, co-led by Sapphire Ventures and Riverwood Capital, resulted in a valuation of $1.4 billion, indicating its robust growth trajectory. Over the past few years, Degreed has witnessed remarkable compound annual revenue growth of 76%, a testament to its success in the corporate learning market.
Degreed Mergers and acquisitions (M&A) Activities
Degreed has strategically expanded its offerings through acquisitions. In 2022, the acquisition of Learn In brought back Co-founder David Blake as CEO and introduced features like a prepaid learning stipend card, skills marketplace, custom program builder, tuition benefits management, and dedicated coaching. This move enhances Degreed's ability to develop deep skills and support a highly skilled workforce.
The acquisition of Adepto in 2019 significantly expanded Degreed's offerings for global and multinational organizations, introducing over 40 new products, professional services, and commercial teams in Europe and Australia. Additionally, the integration of technologies from Pathgather in 2018 aimed to create a unified and enhanced learning platform, furthering Degreed's commitment to delivering innovative learning solutions.
Degreed Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Degreed applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Degreed and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Degreed, customers.
Degreed Overview
Ownership: - x
Number of Employees: 650
Functional Market: Learning and Development,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Degreed Key Cloud and HCM Applications
Degreed,
Degreed HCM and Cloud HCM Applications Revenues, $M:
Type/Year | 2022 | 2023 | YoY Growth, % |
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Total Revenues, $M | Subscribe | Subscribe | Subscribe |
HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Degreed Revenue Breakdown by Type:
Degreed HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Degreed HCM Applications Revenues By Verticals, $M:
Degreed Total and HCM Applications Revenues by Region:
Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
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Americas | Subscribe | Subscribe | Subscribe |
EMEA | Subscribe | Subscribe | Subscribe |
APAC | Subscribe | Subscribe | Subscribe |
Total | Subscribe | Subscribe | Subscribe |
Degreed Direct vs Indirect sales
Region | Direct Sales | Indirect Sales | Total |
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Type % | Subscribe | Subscribe | Subscribe |
Revenues, $M | Subscribe | Subscribe | Subscribe |
Degreed Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Degreed Customers
No. of Degreed Customers: 400
No. of Degreed HCM Applications Customers: 400
No. of Degreed Cloud HCM Customers: 400
No. of Degreed Cloud HCM Subscribers: 8 million
Degreed boasts a client base of over 400 organizations and more than 8 million licensed users. Some of its notable customers include Unilever, Cisco Systems, AthenaHealth, BMO Financial Group, and Hyatt Hotels, reflecting its ability to serve a diverse range of clients.
Degreed Market Opportunities, M&A and Geo Expansions
Degreed, the upskilling platform, has successfully secured $153 million in Series D funding, co-led by Sapphire Ventures and Riverwood Capital, resulting in a valuation of $1.4 billion. Notably, Dan Levin, former COO of Box, will take the helm as the new CEO, succeeding Chris McCarthy, who will continue to provide strategic advisory support.
This funding will be allocated towards several key initiatives, including accelerating product development, bolstering data infrastructure, supporting global expansion efforts, and pursuing strategic acquisitions. The focus of technological enhancements will center around elevating reporting and analytics, ensuring top-tier security, and integrating features that seamlessly integrate Degreed into users' daily workflows.
Chris McCarthy, who led Degreed for nearly eight years, is stepping down as CEO due to health concerns but will remain on the Board of Directors. His tenure witnessed significant growth, with a remarkable 76% compound annual revenue growth and an 800% increase in enterprise value during his three and a half years as CEO. In 2020, Degreed substantially expanded its user base, increased its workforce by 50%, and made substantial product extensions to support upskilling initiatives.
Furthermore, in June 2020, Degreed secured an additional $32 million in funding led by Owl Ventures, with a primary focus on enhancing Career Mobility products that facilitate career development through learning and skills. The company aims to serve as the "System of Record for Skills" for its clients.
Degreed Risks and Challenges
Degreed's stated goal of balance - or controlled growth - may be anathema to the grow-at-all-costs culture of San Francisco startups including Degreed. But then again, Degreed, which has attracted high-caliber investors like Mark Cuban, may have a fair amount of runway to perfect its product strategy before sales take over.
Degreed Ecosystem, Partners, Resellers and SI
Degreed has established a robust ecosystem with various technology integrations and partnerships. Collaborations with companies like SAP®, Pluralsight, and LearnUpon have expanded its reach and capabilities. These partnerships create network effects and value-added reseller opportunities, strengthening its position in the market.
In conclusion, Degreed's journey in the corporate learning space showcases a commitment to innovation and expansion. With strong financial backing, a diverse client base, and a focus on emerging technologies, Degreed is well-positioned to continue transforming the learning experiences of millions across the globe.
Degreed Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- Degreed Public Cloud and Infrastructure (IaaS)
- Degreed Platform (PaaS)
- Degreed Application Delivery
- Degreed Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
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