Edunav, a leading developer for the higher education market that takes care of student planning and software optimization, secured $7 million in funding, the company announced on Monday.
The Series A funding was led by Opus Capital Partners and Learn Capital, according to a press release. The money will be used to advance product development and cater to customers’ needs.
“Time to completion is more important now than ever before as states move to performance-based funding,” said Isaac Segal, president and CEO of the company, which purports to improve student retention and degree completion. “Partnering with leading investors like Opus Capital and Learn Capital will allow Edunav to help more institutions reach their performance targets.”
Dan Avida, general partner at Opus Capital, said the significant investment was made because of the quality of products that Edunav offers.
“Edunav’s technology and products can dramatically improve institutions’ key performance metrics such as time to completion and optimal seat utilization,” he said. “We are excited to back Isaac and his team in their efforts to help students graduate successfully and efficiently.”