(Boston, MA) July 13, 2009– ConnectEDU, Inc., (www.connectedu.net) the Web-based leader in using data to connect students with colleges and employers through the nation’s largest college and career planning network, today announced the close of their Series C Financing marked by the surpassing of the company’s projected $5 million dollar goal.
ConnectEDU’s current investors led the $8.2 million dollar raise as the company continues to demonstrate its scalable business model and rapid growth. ConnectEDU also welcomed a small group of strategic investors, led by Allen & Company, into the shareholder group.
“We are excited about the great response received during this round of fundraising,” said ConnectEDU President and CEO, Craig Powell. “To have exceeded our goal, in this economic environment, speaks to the fundamentals of our business model and the magnitude of our mission to empower young people in their education and career transitions. These additional funds allow us to accelerate our current growth and build off of our state-wide longitudinal data contract success.”
Over the last two years, the ConnectEDU National Network™ has expanded its high school and college membership by more than 600% and 750% respectively. More than 2 million users - representing 20% of the college-bound student population - in 48 of the 50 states comprise the national network.
“As we continue to aggregate high school districts, colleges, employers, and business partners to help simplify the college and career transition process, our growth trajectory is expected to continue its rapid pace,” said Powell. “We will continue to measure success in our double bottom line of: 1) students positively impacted, and 2) inefficiencies eliminated.”
For more information on ConnectEDU and the ConnectEDU National Network, visit www.connectedu.net or call (617) 532-3000.
About ConnectEDU, Inc.
ConnectEDU is the nation’s leading technology firm dedicated to providing students, educators and employers with comprehensive solutions to successfully navigate education and employment transitions. ConnectEDU's mission is to democratize access to higher education and career opportunities for all students by empowering them and their advisors with the information, resources and collective bargaining power required to realize successful life transitions.