Bakkers, the driving school that provides a free online driver education program for the poor and working class, announced Friday that it has raised a $20 million Series B funding round.
The company will use the money to expand the Bakkers brand and expand its workforce.
The new round comes as the Bakker brand is on the rise and the company recently added a new instructor, a new CEO and a brand new headquarters.
Bakkers has been struggling with declining enrollment and low revenues since 2015.
The company has been hemorrhaging money since 2013, and its latest round of funding comes at a time when the company is struggling to stay relevant in the rapidly growing market for driverless cars.
The Bakkers program was launched in 2015, with the goal of providing a free driving course for the “poor and working classes.”
That program has since expanded to include free driving lessons for anyone age 21 and older, and more than 20,000 people have completed the course, according to Bakkers.
While there is no data available on how many people have actually completed the Bakks program, a recent survey by the Federal Trade Commission found that around 1 in 10 people who have taken the course have used it for more than two hours a day.
The survey found that just over 2 percent of the people who completed the class said that they would use it for an entire week.
In 2017, the Bakrs were awarded $30 million in a funding round led by the Bill & Melinda Gates Foundation.
In 2018, the company raised $18 million from Goldman Sachs, Accel Partners, and others.
The funding round was led by KKR.
The funding round is the second round of financing for the Bakkies.
In 2017, Bakkies co-founder and CEO James Fink launched a new online driving school called the Driverless Academy, which was later bought by Amazon.
In 2019, the program was acquired by Uber.
In a statement, Bakkers said it was looking to expand its curriculum and workforce to meet the growing demand for driver education programs.
Bakkers is working with a number of partner organizations to expand their driver education offerings, and the Bakys team is excited to be a part of the Bakers community.