CAMPUSLOGIC has announced $7.5 million in Series A funding led by Continental Investors. Great Lakes Higher Education Corporation, University Ventures, Select Venture Partners and Peak Venture Capital also invested. The funding includes a $4.1 million in convertible note financing that the company shared in July 2015. Founded in 2011, the Gilbert, AZ-based company offers a mobile, cloud-based tool that helps students and administrators in more than 30 universities navigate the financial aid process. In a press release, the company said it planned to expand its software engineering and product support.
THE GREAT DEBATERS: The Harvard debate team recently squared off against an unexpected opponent: three inmates from Eastern New York Correctional Facility, a maximum-security facility in the Catskills. The three men, previously convicted of violent crimes, are currently enrolled in the Bard Prison Initiative, a degree-granting program that serves inmates.
Their topic for debate? Whether American K-12 schools should admit illegal immigrants. The inmates argued in the negative—and won, though they personally believe that schools should open their doors to immigrants. The prison team had its first debate back in March, beating the U.S. Military Academy at West Point, NY. Making their victory all the more impressive, the Bard team is not allowed to use the Internet while researching their arguments.
ACEABLE: $4.7 million to Austin, TX-based Aceable in a seed round led by Silverton Partners, with Capital Factory, Floodgate Ventures and NextGen Angels also participating. Founded in 2013, Aceable has found a profitable niche in the online driver’s ed market, offering customers in Texas and Florida access to courses for $25 to $100 a pop. As The Wall Street Journal notes, it will take “time to attain state approvals to begin selling mobile and online courses to customers in every state.” Aceable currently claims over 100,000 customers.
LAUREATE EDUCATION, the largest U.S.-based for-profit college chain, has announced that it will once again become a publicly-traded company. The privately-held company was publicly traded before 2007, when a group of investors led by CEO Douglas L. Becker bought the company in a $3.8 billion dollar deal.
The announcement comes bundled with another restructuring: Laureate will become a public benefit corporation. The reclassification means that Laureate will remain a for-profit corporation, but will also be legally permitted to focus on initiatives that do not directly boost its profits. The company said in a written statement that it intends to help its international students overcome barriers to higher education.
VELPIC has raised $4 million in funding. The Perth-based company makes a cloud-based platform that businesses use to create their own training lessons and distribute them to staff and contractors. The wealth management firm Baillieu Holst led the round. Sanlam Private Wealth, Alignment Capital, Shaw and Partners and Tony Gandel, son of billionaire property developer John Gandel, also invested.