Enterprise software producer Salesforce exited RaiseMe, the US-based operator of an online student aid platform, through an acquisition of undisclosed size by student finance management service CampusLogic yesterday.
Founded in 2012, RaiseMe operates an online platform where universities can make contact with students from disadvantaged backgrounds and provide financial aid based on achievements they post.
The deal comes after more than $31m in funding for the company, which secured $15m in a July 2018 series B round led by venture capital firm Teamworthy Ventures that included Salesforce subsidiary Salesforce Ventures, Chan Zuckerberg Initiative and Strada Education Network.
RaiseMe graduated from accelerator Y Combinator in 2012 before raising $4.5m from Owl Ventures, First Round, SJF Ventures and angel investors Deborah Quazzo, Mark Goines, Paul Freedman and Thomas D. Lehrman three years later.
Owl Ventures, First Round and SJF Ventures returned for the company’s $12m series A round in 2017, investing alongside Redpoint Ventures and GSV Acceleration.
