ValueAct Spring Fund leads $16M raise, joined by the Lumina Foundation and its existing leading edtech investors
NEW YORK (PRWEB) JUNE 09, 2020
Noodle Partners works with two dozen leading public (such as University of Tennessee, University of Virginia, and University of Michigan) and private universities (such as Howard University, Tufts University, and Tulane University), to help build excellent online programs and make their on-campus programs more flexible, efficient, and resilient. The company today announced its Series B funding, which will help accelerate its growth and wind its partner schools into an increasingly powerful network.
The $16M round was led by San Francisco-based ValueAct Spring Fund, followed by the Lumina Foundation and existing investors. With prior rounds, the company has now raised more than $60 million.
Noodle Partners uses technology to raise student:faculty engagement, lower costs and ultimately boost resilience. In just a few years, it has become widely known as a transparent and cost-conscious industry leader. With this latest round of capital, Noodle Partners will help more universities and colleges transform both their online and classroom programs. The current pandemic makes the need for its services that much more urgent.
“Noodle Partners has brought flexibility, transparency, and lower costs to online program management,” ValueAct Spring Fund Associate Patrick Halfmann said. “We’re excited to support the company’s rapidly growing roster of new programs and university relationships.”
“Noodle Partners offers an efficient, high-quality approach to agile programs that focus on today’s students,” The Lumina Foundation’s Chief Financial Officer and Vice President for Finance and Investments at Brad Kelsheimer said. “Our investment in the company is aimed at producing financial returns, social benefits, and lessons that will inform the field of higher learning.
Noodle Partners has pioneered alternatives to long-term revenue sharing arrangements, and saves schools between $15,000 and $25,000 per student compared to traditional OPM models. Further, its technology and services are useful even for colleges and universities that merely wish to streamline and improve their campus-based operations.
“Noodle has doubled or tripled in size every year since we founded it,” John Katzman, Noodle’s Founder and CEO said. “Steadily, we are becoming the hub for a network of great universities to collaborate at scale and improve their outcomes. Our network includes the half a million students each month who visit our website, Noodle.com, to find a school, and dozens of software and service providers. We’re excited at the vote of confidence by ValueAct and Lumina, who see us as a force for social good."
Noodle Partners was founded by John Katzman, who also founded 2U and The Princeton Review.
About Noodle Partners
Founded by a team of education and technology veterans, Noodle Partners creates innovative online and hybrid programs while improving traditional classroom models. Noodle Partners has the capability to work with universities on every aspect of building a certificate or degree program that they choose—marketing, student recruitment, enrollment, curriculum design, student engagement, support services, graduate placement, and alumni engagement—and provides a high level of fit and finish. For more information, visit noodle-partners.com or follow us on Twitter @Noodle_Partners or LinkedIn.
Read the PR web release here.