"It’s time to help universities lower the cost of a great education, and it’s great to have partners like FlowPoint and MassMutual to help make that happen," comments John Katzman, CEO of Noodle Partners.
NEW YORK (PRWEB) April 18, 2018
Noodle Partners, the nation’s fastest-growing online higher education provider, today announced a $100 million financing partnership with MassMutual and FlowPoint Education Management. MassMutual and FlowPoint have committed to fund universities to create online programs with Noodle Partners using its unique temporary revenue share financing arrangement.
“Ten years ago, the Noodle Partners team helped reinvent online education, and today we are proud to announce we are backing the industry leader’s next leg of growth,” said MassMutual Deputy Chief Investment Officer, Drew Dickey. “Together with our partners at FlowPoint, we have been impressed with Noodle’s positive social impact and look forward to helping Noodle and their partner universities expand access to quality, affordable education in subject areas where there is a great societal need for additional talent.”
Noodle Partners CEO John Katzman is also excited about the relationship. “A decade ago, it cost $15 million to launch and scale an excellent online program, and no one knew if elite students would take it. Now it costs a fraction of that, and 30% of all graduate students study online. It’s time to help universities lower the cost of a great education, and it’s great to have partners like FlowPoint and MassMutual to help make that happen. University boards and students should feel comfortable knowing they have real options, and that the largest and most respected lenders stand behind us.”
According to FlowPoint managing partner and education investor Charles Trafton, “technology-based learning systems now allow students and schools to reimagine where, how and what we learn and teach. The Noodle Partners team has a proven track record delivering world-class results in this paradigm, and our expanded relationship will play a vital role in launching excellent online programs.”
About Noodle Partners
Founded by a team of education and technology veterans, Noodle Partners creates innovative online and hybrid programs while improving traditional classroom models. Noodle Partners has the capability to work with universities on every aspect of building a certificate or degree program that they choose—marketing, student recruitment, enrollment, curriculum design, student engagement, support services, graduate placement, and alumni engagement—and provides a high level of fit and finish. For more information, visit noodle-partners.com or follow Noodle Partners on Twitter @Noodle_Partners or LinkedIn.
About MassMutual
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit http://www.massmutual.com.
About FlowPoint Education Management, LLC
FlowPoint is a specialty finance company focused on structured finance investments in education markets including education technology, financial technology and income-share agreements.
Media Contacts:
Noodle Partners
Alyssa Miller
alyssa(at)ammediaworks(dot)com
973-615-1292
MassMutual
Michael McNamara
MichaelMcNamara(at)massmutual(dot)com
860-549-6442