Udacity raises $75M in debt, says its tech education business is profitable after enterprise pivot

Online education tools continue to see a surge of interest boosted by major changes in work and learning practices in the midst of a global health pandemic. Udacity, which provides online courses and popularized the concept of "nanodegrees" in tech-related subjects like artificial intelligence, programming, autonomous driving and cloud computing, has secured $75 million in the form of a debt facility. Udacity said that part of the business is growing fast, with Q3 bookings up by 120% year-over-year and average run rates up 260% in H1 2020.

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