Boston-based Online College and Career Planning Company, ConnectEDU, Brings in $10M in New Financing

ConnectEDU is in the business of helping students manage their education and launch their careers. In order to make this profitable, the Boston-based company develops web-based college and career access tools, which the company markets to high schools and colleges.

In Massachusetts, ConnectEDU technologies are responsible for powering YourPlanForCollege.org: a free, one-stop, online college and career planning portal that centralizes all of the data that is essential to supporting students as they prepare for the road ahead.

As mentioned in an earlier New England Post story on the subject, the Commonwealth’s portal provides a host of resources for students, parents, counselors, mentors, teachers and adult learners. These resources include tools for tracking and submitting applications online; free test-prep tutorials; and tools for organizing tests scores and other academic information.

In addition to helping students in the Bay State, ConnectEDU serves over 5 million high school and college aged students across the country through its “Connect! Community” online network.

For investors, it is clear that the company has proven its business model.

ConnectEDU recently raised $10M in new equity financing, with existing shareholder, Allen & Co., leading the financing round.

“This round signifies our shareholders’ interest in continuing to aggressively pursue ConnectEDU’s mission to service students, and those who serve them, throughout their education, career and financial planning process,” said ConnectEDU’s CEO, Craig Powell.

Powell continued, “This funding will accelerate the continuation of ConnectEDU’s successful acquisition strategy, which has included our Enrollment Marketing and Retention Management business and CoursEval, the leader in web-based student and teacher assessment.”

Just last month, ConnectEDU acquired the Enrollment and Retention division of the New Jersey company, EducationDynamics, LLC.

In the past year, ConnectEDU has opened offices in Hoboken, New Jersey and Austin, Texas in support of the company’s growth and plans for national expansion.



Related posts:

1. Mass. Launches Online Portal to Help Students Plan for College and Beyond
2. The Bay State’s Biotech Industry Continues to Grow: MA-Based Arsenal Medical Spins Out New Company, 480 Biomedical
3. Cisco Systems to Acquire MA-Based Software Company, BNI Video, for $99M
4. Cambridge Company Creates New, Cloud-based Atmosphere For Online Navigation
5. Boston- and New York-based Daily Deal Company BuyWithMe is Saying Goodbye to 100 Employees

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Posted by erik devaney on Oct 27 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry