Venture Capital News: CampusLogic Bags $10M in Series B
PHOENIX, AZ, Financial aid engagement platform, today announced that it has secured $10 million in a Series B financing round led by 4.0 Partners.
CampusLogic, the only student financial aid engagement platform, today announced that it has secured $10 million in a Series B financing round led by 4.0 Partners. The funding will support the continued expansion of a college search-to-graduation student engagement platform, strengthened by CampusLogic's recent acquisition of Cegment, developer of the nation's most popular commercial net price calculator.
Research suggests that 4-in-10 low income high school students who are accepted to college don't enroll in the fall, due to concern and confusion about the financial aid process. CampusLogic's unique technology enables students and families to understand the true cost of college early in the enrollment process, easily complete critical financial aid forms, and access digital, easy to understand award letters -- all from their mobile phone. By streamlining the management process for financial aid officers, CampusLogic's platform also frees up time for institutions to focus on coaching and advising to support student success.
As part of the Series B investment, Eric N. Shapiro, Senior Venture Partner from 4.0 Partners, will join CampusLogic's board of directors. Eric is a three-time successful entrepreneur, and is currently CEO of ArcTouch, a mobile & connected experiences studio he founded in 2008, which was recently acquired by WPP.
'We are impressed with the CampusLogic leadership team and their transformative approach to financial aid,' said Shapiro. 'CampusLogic is a category creator, solving real problems around accessibility to education, student borrowing, and administrative cost. We're excited to support CampusLogic's continued growth.'
'I'm thrilled to have Eric join our board,' said Gregg Scoresby, CEO of CampusLogic. 'He and 4.0 Partners bring deep knowledge and expertise in software and mobile technology. Together, we are well positioned to accelerate CampusLogic's already rapid growth, more than 300% year-over-year.'
CampusLogic is currently used by more than 400 colleges and universities, including innovators Georgia State University, Arizona State University, and Purdue University, to eliminate paper-based workflows and decrease financial aid processing times. Financial aid offices using the platform report improved enrollment yield, staff efficiency, and student satisfaction with the financial aid process.
CampusLogic transforms the way higher education delivers financial aid with the first -- and only -- student engagement platform. Easy. Mobile. Personalized. Our cloud-based technology helps schools increase accessibility to education, reduce student borrowing, and drive down the cost of financial aid administration. More than 400 schools serving 1.4 million students improve enrollment yield, process efficiencies, and student satisfaction by better engaging students from their initial college search through graduation. For more information visit www.campuslogic.com.
About 4.0 Partners
4.0 Partners invests in companies that are driving the fourth Industrial Revolution, where real and virtual worlds merge, led by exponential advances in Artificial Intelligence, Cloud Computing, Internet of Things, and Big Data. Our team of experienced entrepreneurs, investors and advisors work with founders and visionaries to start and grow their technology ventures. For more information visit http://4.0partners.com
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