Sapphire Ventures and Riverwood Capital led a $153m Series D funding round in Degreed.

Sapphire Ventures and Riverwood Capital, the two private equity firms, led a $153m Series D funding round in Degreed, a software company serving human resource departments. The total funding round included participation from current investors Signal Peak Ventures, Owl Ventures, GSV Ventures, Founders Circle, Contour Investment Partners, Section Partners, and Alliance Bernstein, as well as new investor Firework Ventures. “Research shows that today’s employees are eight times more likely to work for a company that they trust will provide them with career opportunities, even if their job changes or goes away. And businesses that can quickly reallocate talent to the most critical strategic priorities are more than twice as likely to outperform their competitors on total returns to shareholders. That’s exactly what Degreed does, and that’s why we’re excited to partner with Degreed and be part of the company’s future,” Kevin Diestel, Sapphire Ventures Partner.