AUSTIN, TX, Creators of the first state-approved drivers education app, today announced a $4M Series A funding round.
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Aceable, creators of the first state-approved drivers education app, today announced a $4M Series A funding round, co-led by existing investors Silverton Partners and Floodgate. The funds will be used to expand the company into new industries that require professional certifications, while continuing to grow their successful drivers ed app state-by-state.
'The rapid adoption of our drivers ed app proves that demand exists for not only engaging but also cutting edge mobile learning experiences,' said Blake Garrett, Founder and CEO, Aceable. 'Astoundingly, 1 in 3 jobs in the United States require some form of professional certification; however, despite that opportunity, the number one complaint we hear from professionals in the fields we're exploring is that course content is boring at best - and irrelevant at worst. We know we can fix both of these problems the same way we did with driving.'
In less than two years, Aceable has captured more than 35 percent market share for all of the online drivers ed courses in Texas and California. The funding will allow the company to continue adding its drivers ed app to new markets, including Georgia, Pennsylvania, Nevada and Indiana. Simultaneously, they will be able to expand into new verticals, such as real estate, corporate HR, nursing and food safety - all areas where certifications are required.
'The future of professional education is in mobile learning. Aceable's outstanding app store reviews and user growth prove their product is best-in-class, making them well poised to continue tremendous growth into new fields,' said Morgan Flager of Silverton Partners. 'It's rare to see a company reach profitability with such explosive growth.'
Aceable's drivers ed app currently ranks as one of the highest grossing education apps in the App Store and Google Play. The company currently touts more than 300,000 users in Texas, California, Florida, Ohio and Illinois, and maintains a 98 percent pass rate for the course.
'It's clear that our approach to learning works,' said Garrett. 'As we continue to push the envelope on the effectiveness of mobile learning, we expect to see that same level of success.'
Additional investors include current shareholders NextGen Angels, Capital Factory, as well as pro-rata investors and optional strategic investments.
Aceable is a mobile education platform that focuses on creating affordable, engaging and convenient educational content across all devices. Built by former teachers, NASA engineers and those passionate about education, the Austin-based team is obsessed with helping people with life's certification challenges. After launching its first mobile app to provide accredited drivers ed courses, Aceable is now expanding into other verticals for required education. To date, the company touts more than 300,000 users and counting, as it continues to expand state-by-state. For more information about Aceable visit www.aceable.com.