CampusLogic, a US-based student financial aid provider backed by student loan provider Great Lakes Higher Education, secured $10m in a series B round yesterday led by investment firm 4.0 Partners.
CampusLogic operates a cloud-based platform that helps higher education provider offer financial aid through a mobile app and engage with students. The tool is used by more than 400 universities and colleges, such as Purdue University and Georgia State University.
The cash injection will drive further expansion efforts. Eric Shapiro, senior venture partner at 4.0 Partners, will join the company’s board of directors.
Great Lakes Higher Education took part in a $7.5m series A round in 2015 that also included University Ventures, Select Venture Partners and Peak Venture Capital. The series A round was led by Continental Investors.
Unnamed investors that previously acquired an undisclosed amount of convertible notes converted these as part of the series A round.
Gregg Scoresby, CEO of CampusLogic, said: “I am thrilled to have Eric join our board. He and 4.0 Partners bring deep knowledge and expertise in software and mobile technology. Together, we are well positioned to accelerate CampusLogic’s already rapid growth, more than 300% year-over-year.”