PHOENIX, July 15, 2020 /PRNewswire-PRWeb/ -- CampusLogic, one of the fastest-growing companies in education technology, today announces that Dragoneer Investment Group has made a $120 million minority investment in the company.
CampusLogic is rapidly gaining market share, sustaining average annual growth rates of nearly 40 percent, and now has more than 750 college and university customers. The company will use the funding to invest in new product development and make strategic acquisitions that will increase the scope of its student financial success platform.
"It's never been more important for colleges and universities to prioritize student financial success and no other organization in the world is investing more in removing the barriers in the financial aid process than CampusLogic," commented CampusLogic CEO Gregg Scoresby. "Our mission is to transform the financial aid experience from the time students are planning for college, while they are in college, and after they graduate. This investment from Dragoneer will allow us to further that mission."
CampusLogic provides critical tools and resources for the 15 million students who travel the higher education journey each year. Complicated financial processes often create barriers to student enrollment, engagement, and retention. Nearly 60% of students who don't complete college report that financial barriers are standing in their way, and more than three million students every year drop out of higher education due to financial constraints. Further, three quarters of students say a frustrating financial aid process has affected their academic performance.
"A rapidly increasing number of schools are realizing that the days of requiring students to mail or fax critical financial aid paperwork or visit a central office location for assistance and advising are behind us," said Christian Jensen, Partner at Dragoneer Investment Group, who will join CampusLogic's Board of Directors. "CampusLogic gives students an innovative, efficient, and personalized way to access financial aid, and provides unparalleled solutions for solving critical problems for colleges and universities around accessibility, scalability, and completion. We look forward to collaborating with Gregg and his team to help accelerate the next phase of CampusLogic's growth and success."
Peter Arrowsmith, JMI Equity General Partner, will remain on the CampusLogic Board of Directors. "CampusLogic's growth over the past two years has been outstanding and they continue to be a bright star within our investment portfolio," commented Mr. Arrowsmith. "We've enjoyed very successful partnerships with Dragoneer on other investments and are delighted to work with them again."
About CampusLogic
CampusLogic delivers Saas technology that helps colleges and universities remove barriers in the financial aid process. The company currently helps more than 750 schools increase enrollment, retention, and graduation rates with the most comprehensive platform of student financial success products. The CampusLogic student financial success platform includes a net price calculator, complete scholarship management, personalized digital communications, simplified financial aid verification, 24x7 personalized virtual advising, tuition and scholarship crowdfunding, and integrated data visualizations. CampusLogic has received multiple awards, including the Deloitte Technology Fast 500, Inc. 5000, and Education Technology Insights Top 10 Artificial Intelligence Solution Provider.
About Dragoneer Investment Group
Dragoneer is a San Francisco-based, growth-oriented investment firm with over $10 billion in long-duration capital from many of the world's leading endowments, foundations, sovereign wealth funds, and family offices. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm's track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Dragoneer has been an investor in companies such as Airbnb, Alibaba, AmWINS, AppFolio, Atlassian, Dollar Shave Club, Etsy, Facebook, Netflix, Nubank, PointClickCare, Procore, Slack, Spotify, Square, Uber, DataDog, Snowflake, ServiceTitan, Gusto, DoorDash, and others.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 145 businesses in its target markets, successfully completed over 95 exits and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information visit jmi.com.
Media Contact - CampusLogic
Aly Saxe
Communications, CampusLogic
[email protected]
SOURCE CampusLogic
Share this article