Coursera, Inc. - Major Shareholding Notification 2022

SC 13G 1 nea-sch13g_18590.htm NEW ENTERPRISE ASSOCIATES 13, L.P. / COURSERA, INC. -- 13G

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

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Coursera, Inc.

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(Name of Issuer)

Common Stock, $0.00001 par value per share

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(Title of Class of Securities)

22266M104

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(CUSIP Number)

December 31, 2021

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(Date of Event Which Requires Filing of This Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes).

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CUSIP No. 22266M104 13G Page 2 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) New Enterprise Associates 13, L.P. | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION Cayman Islands exempted limited partnership | |

| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | SOLE
VOTING POWER 0 |
| --- | --- |
| 6 | SHARED
VOTING POWER 15,867,769
shares |
| 7 | SOLE
DISPOSITIVE POWER 0 |
| 8 | SHARED
DISPOSITIVE POWER 15,867,769
shares |

| 9 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 15,867,769
shares | |
| --- | --- | --- |
| 10 | CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ |
| 11 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.3% | |
| 12 | TYPE
OF REPORTING PERSON PN | |

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CUSIP No. 22266M104 13G Page 3 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) NEA
Partners 13, L.P. | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION Cayman Islands exempted limited partnership | |

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CUSIP No. 22266M104 13G Page 4 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) NEA 13 GP, LTD | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION Cayman
Islands exempted company | |

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CUSIP No. 22266M104 13G Page 5 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) New Enterprise Associates 17, L.P. | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION Delaware limited partnership | |

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CUSIP No. 22266M104 13G Page 6 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) NEA
Partners 17, L.P. | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION Delaware exempted limited partnership | |

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CUSIP No. 22266M104 13G Page 7 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) NEA 17 GP, LLC | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION Delaware limited liability company | |

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CUSIP No. 22266M104 13G Page 8 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) Forest
Baskett | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION United States | |

| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | SOLE
VOTING POWER 0 shares |
| --- | --- |
| 6 | SHARED
VOTING POWER 15,867,769
shares |
| 7 | SOLE
DISPOSITIVE POWER 0 shares |
| 8 | SHARED
DISPOSITIVE POWER 15,867,769
shares |

| 9 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 15,867,769 shares | |
| --- | --- | --- |
| 10 | CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ |
| 11 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.3% | |
| 12 | TYPE
OF REPORTING PERSON IN | |

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CUSIP No. 22266M104 13G Page 9 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) Patrick J. Kerins | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION United
States citizen | |

| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | SOLE
VOTING POWER 0 |
| --- | --- |
| 6 | SHARED
VOTING POWER 13,661,886
shares |
| 7 | SOLE
DISPOSITIVE POWER 0 |
| 8 | SHARED
DISPOSITIVE POWER 13,661,886
shares |

| 9 | AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,661,886
shares | |
| --- | --- | --- |
| 10 | CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ |
| 11 | PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.7% | |
| 12 | TYPE
OF REPORTING PERSON IN | |

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CUSIP No. 22266M104 13G Page 10 of 19 Pages

| 1 | NAMES
OF REPORTING PERSON(S) Scott D. Sandell | |
| --- | --- | --- |
| 2 | CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ (b) ☐ |
| 3 | SEC
USE ONLY | |
| 4 | CITIZENSHIP
OR PLACE OF ORGANIZATION United States | |

| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | SOLE
VOTING POWER 0
shares |
| --- | --- |
| 6 | SHARED
VOTING POWER 15,867,769
shares |
| 7 | SOLE
DISPOSITIVE POWER 0
shares |
| 8 | SHARED
DISPOSITIVE POWER 15,867,769
shares |

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CUSIP No. 22266M104 13G Page 11 of 19 Pages

Item 1(a). Name of Issuer:

Coursera, Inc.

Item 1(b). Address of Issuer's Principal Executive Offices:

381 E. Evelyn Ave., Mountain View, CA 94041

Item 2(a). Names of Persons Filing:

(a) New Enterprise Associates 13, L.P. (“NEA 13”) and New Enterprise Associates 17, L.P. (“NEA 17”); (“NEA 17” and, collectively with NEA 13, the “Funds”);

(b) NEA Partners 13, L.P. (“NEA Partners 13”), which is the sole general partner of NEA 13; NEA Partners 17, L.P. (“NEA Partners 17” and, collectively with NEA Partners 13, the “GPLPs”), which is the sole general partner of NEA 17; NEA 13 GP, LTD (“NEA 13 GP”), which is the sole general partner of NEA Partners 13; and NEA 17 GP, LLC (“NEA 17 GP” and, collectively with the GPLPs and NEA 13 GP, the “Control Entities”), which is the sole general partner of NEA Partners 17;

(c) Forest Baskett (“Baskett”), Patrick J. Kerins (“Kerins”), and Scott D. Sandell (“Sandell”) (together, the “Managers”).

Baskett and Sandell are directors of NEA 13 GP and managers of NEA 17 GP (the “Dual Managers”). Kerins is a director of NEA 13 GP.

The persons named in this Item 2(a) are referred to individually herein as a “Reporting Person” and collectively as the “Reporting Persons.”

Item 2(b). Address of Principal Business Office or, if none, Residence:

The address of the principal business office of the Funds, each Control Entity and Sandell is New Enterprise Associates, 1954 Greenspring Drive, Suite 600, Timonium, MD 21093. The address of the principal business office of Baskett is New Enterprise Associates, 2855 Sand Hill Road, Menlo Park, California 94025. The address of the principal business office of Kerins is New Enterprise Associates, 5425 Wisconsin Avenue, Suite 800, Chevy Chase, MD 20815.

Item 2(c). Citizenship:

Each of NEA 13 and NEA Partners 13 is a Cayman Islands exempted limited partnership. NEA 13 GP is a Cayman Islands exempted company. Each of NEA 17 and NEA Partners 17 is a Delaware limited partnership. NEA 13 GP is Delaware limited liability company. Each of the Managers is a United States citizen.

Item 2(d). Title of Class of Securities.

Common Stock, $0.00001 par value (“Common Stock”).

Item 2(e). CUSIP Number.

22266M104

ITEM 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

Not Applicable.

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CUSIP No. 22266M104 13G Page 12 of 19 Pages

ITEM 4. Ownership:

(a) Amount Beneficially Owned:

(i) NEA 13 is the record owner of 13,661,886 Common Stock as of December 31, 2021 (the “NEA 13 Shares”). As the sole general partner of NEA 13, NEA Partners 13 may be deemed to own beneficially the NEA 13 Shares. As the sole general partner of NEA Partners 13, NEA 13 GP likewise may be deemed to own beneficially the NEA 13 Shares. As the individual directors of NEA 13 GP, each of the Dual Managers and Kerins also may be deemed to own beneficially the NEA 13 Shares.

(ii) NEA 17 is the record owner of 2,205,883 Common Stock as of December 31, 2021 (the “NEA 17 Shares”, collectively with the NEA 13 Shares, the “Firm Shares”). As the sole general partner of NEA 17, NEA Partners 17 may be deemed to own beneficially the NEA 17 Shares. As the sole general partner of NEA Partners 17, NEA 17 GP likewise may be deemed to own beneficially the NEA 17 Shares. As the individual managers of NEA 17 GP, each of the Dual Managers also may be deemed to own beneficially the NEA 17 Shares.

(iii) By virtue of their relationship as affiliated entities, whose controlling entities have substantially overlapping individual controlling persons, each of the Funds, the Control Entities and the Dual Managers may be deemed to share the power to direct the disposition and vote of the Firm Shares.

(b) Percent of Class: See Line 11 of cover sheets. The percentages set forth on the cover sheet for each Reporting Person are calculated based on 140,589,748 Common Stock reported by the Issuer to be outstanding as of October 31, 2021 on Form 10-Q as filed with the Securities and Exchange Commission on November 10, 2021.

(i) sole power to vote or to direct the vote: See Line 5 of cover sheets.

(ii) shared power to vote or to direct the vote: See Line 6 of cover sheets.

(iii) sole power to dispose or to direct the disposition of: See Line 7 of cover sheets.

(iv) shared power to dispose or to direct the disposition of: See Line 8 of cover sheets.

Each Reporting Person disclaims beneficial ownership of such Securities except for the shares, if any, such Reporting Person holds of record.

ITEM 5. Ownership of Five Percent or Less of a Class.

Not applicable.

ITEM 6. Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

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CUSIP No. 22266M104 13G Page 13 of 19 Pages

ITEM 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not applicable.

ITEM 8. Identification and Classification of Members of the Group.

Not applicable. The Reporting Persons expressly disclaim membership in a “group” as used in Rule 13d-5(b).

ITEM 9. Notice of Dissolution of Group.

Not applicable.

ITEM 10. Certification.

Not applicable. This Schedule 13G is not filed pursuant to Rule 13d-1(b) or Rule 13d–1(c).

Material to be Filed as Exhibits .

Exhibit 1 – Agreement regarding filing of joint Schedule 13G.

Exhibit 2 – Power of Attorney regarding filings under the Securities Exchange Act of 1934, as amended.

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CUSIP No. 22266M104 13G Page 14 of 19 Pages

SIG NATURE

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: February 7, 2022

NEW ENTERPRISE ASSOCIATES 13, L.P.

By: NEA PARTNERS 13, L.P. General Partner

By: NEA 13 GP, LTD General Partner

By: *

Louis S. Citron

Chief Legal Officer

NEA PARTNERS 13, L.P.

By: NEA 13 GP, LTD General Partner

By: *

Louis S. Citron

Chief Legal Officer

NEA 13 GP, LTD

By: *

Louis S. Citron

Chief Legal Officer

Forest Baskett

Patrick J. Kerins

Scott D. Sandell

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CUSIP No. 22266M104 13G Page 15 of 19 Pages

NEW ENTERPRISE ASSOCIATES 17, L.P.

By: NEA PARTNERS 17, L.P. General Partner

By: NEA 17 GP, LLC General Partner

By: *

Scott D. Sandell

Chief Executive Officer

NEA PARTNERS 17, L.P.

By: NEA 17 GP, LLC General Partner

By: *

Scott D. Sandell

Chief Executive Officer

NEA 17 GP, LLC

By: *

Scott D. Sandell

Chief Executive Officer

Forest Baskett

Scott D. Sandell

*By: /s/ Louis S. Citron

Louis S. Citron

As attorney-in-fact

This Schedule 13G was executed by Louis S. Citron on behalf of the individuals listed above pursuant to a Power of Attorney, a copy of which is attached as Exhibit 2.

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CUSIP No. 22266M104 13G Page 16 of 19 Pages

Exhibit 1

AGREEMENT

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of shares of stock of Coursera, Inc.

EXECUTED this 7 th day of February, 2022.

NEW ENTERPRISE ASSOCIATES 13, L.P.

By: NEA PARTNERS 13, L.P. General Partner

By: NEA 13 GP, LTD General Partner

By: *

Louis S. Citron

Chief Legal Officer

NEA PARTNERS 13, L.P.

By: NEA 13 GP, LTD General Partner

By: *

Louis S. Citron

Chief Legal Officer

NEA 13 GP, LTD

By: *

Louis S. Citron

Chief Legal Officer

Forest Baskett

Patrick J. Kerins

Scott D. Sandell

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CUSIP No. 22266M104 13G Page 17 of 19 Pages

NEW ENTERPRISE ASSOCIATES 17, L.P.

By: NEA PARTNERS 17, L.P. General Partner

By: NEA 17 GP, LLC General Partner

By: *

Scott D. Sandell

Chief Executive Officer

NEA PARTNERS 17, L.P.

By: NEA 17 GP, LLC General Partner

By: *

Scott D. Sandell

Chief Executive Officer

NEA 17 GP, LLC

By: *

Scott D. Sandell

Chief Executive Officer

Forest Baskett

Scott D. Sandell

*By: /s/ Louis S. Citron

Louis S. Citron

As attorney-in-fact

This Agreement was executed by Louis S. Citron on behalf of the individuals listed above pursuant to a Power of Attorney, a copy of which is attached as Exhibit 2.

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CUSIP No. 22266M104 13G Page 18 of 19 Pages

Exhibit 2

POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes and appoints Louis S. Citron, Timothy Schaller, Sasha Keough and Stephanie Brecher, and each of them, with full power to act without the others, his or her true and lawful attorney-in-fact, with full power of substitution, to sign any and all instruments, certificates and documents that may be necessary, desirable or appropriate to be executed on behalf of himself as an individual or in his or her capacity as a direct or indirect general partner, director, officer or manager of any partnership, corporation or limited liability company, pursuant to section 13 or 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any and all regulations promulgated thereunder, and to file the same, with all exhibits thereto, and any other documents in connection therewith, with the Securities and Exchange Commission, and with any other entity when and if such is mandated by the Exchange Act or by the Financial Industry Regulatory Authority, granting unto said attorney-in-fact full power and authority to do and perform each and every act and thing necessary, desirable or appropriate, fully to all intents and purposes as he or she might or could do in person, thereby ratifying and confirming all that said attorney-in-fact, or his or her substitutes, may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 13th day of March, 2017.

/s/ M. James Barrett

M. James Barrett

/s/ Peter J. Barris

Peter J. Barris

/s/ Forest Baskett

Forest Baskett

/s/ Ali Behbahani

Ali Behbahani

/s/ Colin Bryant

Colin Bryant

/s/ Carmen Chang

Carmen Chang

/s/ Anthony A. Florence, Jr.

Anthony A. Florence, Jr.

/s/ Carol G. Gallagher

Carol G. Gallagher

/s/ Dayna Grayson

Dayna Grayson

/s/ Patrick J. Kerins

Patrick J. Kerins

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CUSIP No. 22266M104 13G Page 19 of 19 Pages

/s/ P. Justin Klein

P. Justin Klein

/s/ Vanessa Larco

Vanessa Larco

/s/ Joshua Makower

Joshua Makower

/s/ Mohamad H. Makhzoumi

Mohamad H. Makhzoumi

/s/ Edward T. Mathers

Edward T. Mathers

/s/ David M. Mott

David M. Mott

/s/ Sara M. Nayeem

Sara M. Nayeem

/s/ Jason R. Nunn

Jason R. Nunn

/s/ Gregory Papadopoulos

Gregory Papadopoulos

/s/ Chetan Puttagunta

Chetan Puttagunta

/s/ Jon Sakoda

Jon Sakoda

/s/ Scott D. Sandell

Scott D. Sandell

/s/ A. Brooke Seawell

A. Brooke Seawell

/s/ Peter W. Sonsini

Peter W. Sonsini

/s/ Melissa Taunton

Melissa Taunton

/s/ Frank M. Torti

Frank M. Torti

/s/ Ravi Viswanathan

Ravi Viswanathan

/s/ Paul E. Walker

Paul E. Walker

/s/ Rick Yang

Rick Yang

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