Acadeum, a company that helps colleges develop academic partnerships and open up their online courses to students from other institutions, raised $11.9 million in Series B funding last week.
The company, formerly known as College Consortium, plans to use the funding to expand its operational and business reach. The funding round was led by investment group Green Street Impact Partners, with additional funding from the ECMC Group’s Education Impact Fund and Pearson Ventures.
“This is about matching the vast potential of existing, high-quality courses taught by talented, engaging faculty with learners who often struggle to access the classes they need to graduate on time and persist,” Amy Bevilacqua, managing partner of Green Street Impact Partners said in a press release. “[Acadeum] is enabling learners to chart a more direct — and affordable — pathway through college.”
Acadeum’s course-sharing platform and services are used by more than 460 colleges, with customers including the Texas A&M University System and the Community College of Baltimore County, Maryland. Acadeum’s platform is also used by regional and national college consortia, including the Council of Independent Colleges Course Sharing Consortium and the Southern Regional Education Board’s HBCU-MSI Course-Sharing Consortium.