Trying to overcome a recent technical embarrassment, the company aims to prove the value of online learning.

Having already teamed up with more colleges than any of its rivals, Coursera adds 17 new global universities to its roster.

"I believe we can work with a billion people around the world and change education in a fundamental way as it really hasn’t changed in 1,000 years," Anant Agarwal, who stepped down as head of MIT's Computer Science and Artificial Intelligence Lab to take the reins of edx, tells Fast Company.

The web-based learning company just secured $16 million in funding.

Could the next Ivy League grow online?