Companies · Other Technology

2U, Inc.

LANHAM · Other Technology

Diligence memoA one-page analyst read on 2U, Inc. — recommendation, valuation, rhythm, risks.
$410.2M
Total raised · real
4
Rounds
10.4×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Wed May 22 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

2U, Inc. looks over-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 2.73× the median modeled value of Series D+ Other Technology companies in 2019–2021 (105 peers) — value vs value, same stage and era.
Dormant
  • Last raise 7.1 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Technology

2U, Inc. is one of 21292 Other Technology companies tracked from LANHAM. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
36
Investors (latest)
2019-05-22
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$5.0B$10.0B$15.0B$20.0BSeed · 2009-03-16 Raised $2.3M (real) Modeled valuation $78M (est)Seed2009Series A · 2009-06-19 Raised $14M (real) Modeled valuation $401M (est)Series A2009Series B · 2010-02-04 Raised $23M (real) Modeled valuation $687M (est)Series B2010Series B · 2011-02-07 Raised $32M (real) Modeled valuation $990M (est)Series B2011Pre-Seed · 2011-02-07 Raised $750K (real) Modeled valuation $32M (est)Pre-Seed2011Series B · 2012-03-27 Raised $26M (real) Modeled valuation $795M (est)Series B2012Series B · 2012-03-27 Raised $31M (real) Modeled valuation $947M (est)Series B2012Series D+ · 2019-05-22 Raised $324M (real) Modeled valuation $10.2B (est)Series D+2019+$14M+$23M+$32M+$750K+$26M+$31M+$324MCumulative $454M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$2.3M · 2009
Series A$14.4M · 2009
Series B$22.6M · 2010
Series B extension$32.5M · 2011
Bridge · Series B-stage$750K · 2011smaller follow-on
Series B extension$26.1M · 2012
Series B extension$31.1M · 2012
Series D+$324.0M · 2019no Series C on file

Stages are modeled from round size (public records carry no series label). No record for: Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 83%.

Modeled valuation trajectory
$10.2B
Base estimate est.
$1.8B
Conservative case
$22.5B
Upside case
$2.7B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $77.5M · 2009-03-162009Series A · modeled $400.5M · 2009-06-19Series B · modeled $687.2M · 2010-02-04Series B · modeled $989.8M · 2011-02-07Pre-Seed · modeled $31.8M · 2011-02-07Series B · modeled $794.9M · 2012-03-27Series B · modeled $947.2M · 2012-03-27Series D+ · modeled $10.2B · 2019-05-222019
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.29×/yr
Annual markup
1.44×/yr upside case
6.0 yr
Elapsed time used
7.1 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
17 mo
Avg between rounds
$40.3M/yr
Capital velocity
17.3 yr
On record since
2009
First round
8
Rounds on file
How it compares to the market

Benchmarked against 21292 companies in Other Technology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 129× above median
This company$410.2M
Sector median$3.2M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 2.8× above median
This company$324.0M
Sector median$115.0M
Modeled value — vs sector median (estimate, all stages) 275× above median
This company$10.2B
Sector median$37.3M

Raised more than 99% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #2 of 105.

This companyCohort peer
$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Dataminr, Inc. · Series D+ Raised $911.6M · modeled $10.4B (est)KnowBe4, Inc. · Series D+ Raised $384.2M · modeled $9.8B (est)Automation Anywhere, Inc. · Series D+ Raised $290.0M · modeled $9.2B (est)Courier Plus, Inc. · Series D+ Raised $323.7M · modeled $8.6B (est)Microsoft Corp · Series D+ Raised $270.3M · modeled $8.5B (est)FCID Holdings, Inc. · Series D+ Raised $289.1M · modeled $8.2B (est)RigUp, Inc. · Series D+ Raised $771.7M · modeled $8.0B (est)Freshworks Inc. · Series D+ Raised $439.6M · modeled $7.9B (est)Turo Inc. · Series D+ Raised $446.8M · modeled $7.9B (est)Unqork Inc. · Series D+ Raised $364.2M · modeled $7.7B (est)Automattic Inc. · Series D+ Raised $815.7M · modeled $7.5B (est)2U, Inc. (this company) Raised $410.2M · modeled $10.2B (est)2U, Inc.
CompanyStageRaised · realValue · estvs peer med.
Dataminr, Inc.Series D+$911.6M$10.4B2.78×
2U, Inc. this companySeries D+$410.2M$10.2B2.73×
KnowBe4, Inc.Series D+$384.2M$9.8B2.61×
Automation Anywhere, Inc.Series D+$290.0M$9.2B2.44×
Courier Plus, Inc.Series D+$323.7M$8.6B2.28×
Microsoft CorpSeries D+$270.3M$8.5B2.26×
FCID Holdings, Inc.Series D+$289.1M$8.2B2.18×
RigUp, Inc.Series D+$771.7M$8.0B2.14×
Freshworks Inc.Series D+$439.6M$7.9B2.11×
Turo Inc.Series D+$446.8M$7.9B2.11×
Unqork Inc.Series D+$364.2M$7.7B2.06×
Automattic Inc.Series D+$815.7M$7.5B1.99×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$2.3M2009-03-16$11.4M$77.5M85%
Series A$14.4M2009-06-19$65.6M$400.5M85%
Series B$22.6M2010-02-04$125.4M$687.2M85%
Series B$32.5M2011-02-07$180.6M$989.8M85%
Pre-Seed$750K2011-02-07$4.2M$31.8M85%
Series B$26.1M2012-03-27$145.0M$794.9M85%
Series B$31.1M2012-03-27$172.8M$947.2M85%
Series D+$324.0M2019-05-22$2.7B$10.2B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$2.3M2009-03-16
    • First recorded raise — entered as Seed.
    • 5 investors on this round.
  2. Series A$14.4M2009-06-19
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round 6.3× larger than the prior — scaling up.
    • 16 investors on this round.
  3. Series B$22.6M2010-02-04
    • Came back fast: 8 mo vs the ~13 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • 10 investors on this round.
  4. Series B$32.5M2011-02-07
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 13 investors on this round.
  5. Pre-Seed$750K2011-02-07
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 43.3× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  6. Series B$26.1M2012-03-27
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 34.8× larger than the prior — scaling up.
    • 16 investors on this round.
  7. Series B$31.1M2012-03-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 06).
    • 17 investors on this round.
  8. Series D+$324.0M2019-05-22
    • Raised again after 86 mo — slower than the ~13 mo sector norm.
    • Round 10.4× larger than the prior — scaling up.
    • 36 investors on this round.
Intelligence
2020 ~Q4
Modeled next raise · ~17mo cadence
$972.0M
Modeled next size est.range $631.8M$1.6B
10.4×
Last step-up
$40.3M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
GREG MARTIN11 other2009-06
Robert Cohen10 other2009-03
Rob Stavis10 other2011-02
John Katzman4 other2009-06
Philip Bronner4 other2009-06
Mark Chernis3 other2009-03
Michael McCullough2 other2009-06
Timothy Haley2 other2010-02
Timothy M Haley2 other2019-05
Catherine A. Graham1 other2019-05
Christopher Paucek1 other2009-06
Gregory B. Peters1 other2019-05
John M Larson1 other2019-05
Paul Maeder1 other2010-02
Alexis B. Maybank2019-05
Catherine Graham2012-03
Christopher J. Paucek2009-03
Coretha M. Rushing2019-05
Earl L. Lewis2019-05
Edward S. Macias2019-05
Harsha B. Mokkarala2019-05
Jack Larson2009-06
James B. Kenigsberg2019-05
John B. Ellis2019-05
Registry & provenance

2U, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1459417
SEC CIK
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Semantically similar

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Frequently asked
How much funding has 2U, Inc. raised?
2U, Inc. has raised approximately $410.2M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is 2U, Inc.'s estimated valuation?
Provath's modeled valuation for 2U, Inc. is approximately $10.2B (modeled range $1.8B–$22.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is 2U, Inc. at?
2U, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed May 22.
What does 2U, Inc. do and where is it based?
2U, Inc. operates in the Other Technology sector, based in LANHAM.
Explore related

See where 2U, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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