EdTech company Emeritus announced that it raised $650 million in Series E funding, valuing the company at $3.2 billion. The investment was led by global venture capital firm Accel and Softbank's Vision Fund 2.

Proceeds from the funding round will be used to develop new courses in conjunction with university partners to help create new products and industry verticals, expand the company's business serving governments and corporations, expand geographical markets, and fund acquisitions.

Emeritus is committed to providing accessible and affordable education to individuals, companies and governments worldwide. By collaborating with over 50 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India and China, the company offers short courses, degree programs, professional certificates and senior executive programs to help individuals learn in-demand skills to take their careers to the next level.

Emeritus has partnered with more than 50 universities, including MIT, Columbia University, Harvard University, Cambridge University, INSEAD, Wharton Business School, and UC Berkeley. It has delivered high-quality education to over 250,000 students in more than 80 countries and regions.