CHANDLER, Ariz., July 25, 2019 /PRNewswire-PRWeb/ -- CampusLogic, higher education's only end-to-end student financial success platform, today announced that it experienced more than 50% growth for the first half of 2019 over the same period in 2018, with significant growth driven by both the community college as well as the large public university markets. With increasing student debt loads, ongoing school budget pressures, and more intense competition for student enrollment, schools are looking for scalable technology options that can create a superior student experience while substantially reducing the percent of staff time spent on administrative overhead and non-student facing activities. CampusLogic's modern cloud-based solution suite transforms what is often a largely manual and iterative process into a highly-personalized, student-centric experience that speeds cycle times, reduces call volume, and decreases rework in the financial aid office, allowing for a high level of transparency throughout the process.
CampusLogic's highlights include:
-More than 50% growth in annual recurring revenue at the end of the second quarter of 2019 compared to the same period in 2018
-Net retention of over 114%
-A 125% increase in clients that have implemented three or more CampusLogic products
-Strong adoption of our ScholarshipUniverse product, which was launched in Q2 2018
-Significant expansion in key markets, including California, Georgia, Michigan, Pennsylvania, Florida, and Texas
-Addition of approximately 100 new customers in the last year from all higher education market segments: community colleges, public universities, and private institutions
-Acquisition of Funderbolt, rebranded as SponsoredScholar, a tuition and scholarship crowdfunding platform that helps students close funding gaps without taking on additional debt
-Announcement of VirtualAdvisor, which leverages Microsoft's Artificial Intelligence engine as well as the authenticated user data within the CampusLogic products to deliver personalized, context-specific, multilingual support 24/7 to students and parents
-Winning the prestigious SIIA CODiE award for Best Emerging Education Technology Solution for Administrators
-Inclusion at number 181 on the Inc. 500 list of America's fastest-growing private companies
-CEO Gregg Scoresby being named Higher Education Technology Leader of the Year by EdTech Digest
-Announcement of a strategic partnership with Vemo, the leading provider of income-share agreements (ISA) in the higher education market
"The first half of 2019 has been exceptional for CampusLogic, both from the sustained growth in new logo and back-to-the-base sales as well as the announcement of two new products, SponsoredScholar and VirtualAdvisor," commented Gregg Scoresby, CEO, CampusLogic. "Colleges and universities will never fully deliver student success until they prioritize delivering student financial success. CampusLogic is uniquely positioned with the automation, artificial intelligence, and analytics to enable the digital transformation of the entire student financial success journey, from initial school evaluation through graduation."
About CampusLogic
CampusLogic helps schools change lives by delivering the first—and only—Student Financial Success platform that includes a net price calculator, complete scholarship management, personalized digital communications, simplified financial aid verification, 24x7 multilingual virtual advising, tuition and scholarship crowdfunding, and integrated data visualizations. Through our easy, mobile and personalized platform, millions of students enjoy a simplified financial success journey with CampusLogic, resulting in increased enrollment, informed borrowing, and improved retention. For more information, visit campuslogic.com.
Media Contact
Jason Simmons
VP of Marketing, CampusLogic
602.643.1327, [email protected]
SOURCE CampusLogic
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