Tuition.io Raises $5M Series A Round to Grow Student Loan Management Platform

TUITION.IO has raised a $5 million Series A round from MassMutual Ventures LLC, which led the round, Wildcat Venture Partners and Mohr Davidow Ventures. Other firms unidentified in the press release also participated. Tuition.io's platform facilitates employer contributions to student loan debt repayment. The Santa-Monica-based company claims to have helped employers and borrowers manage more than $2 billion in loans to date and to have reduced delinquent loans by 20 percent among its users. This round brings Tuition.io's total funding to $8.2 million. The company hopes to build its team and recruit more companies into its customer base with the funding.

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