SOURCE: MyEdu

MyEdu

February 19, 2010 09:07 ET

MyEdu Closes Series B Financing to Accelerate Growth

Company Teams With Bain Capital Ventures to Improve the College Process and Save Families up to 20 Percent

AUSTIN, TX--(Marketwire - February 19, 2010) - MyEdu, the definitive online source to increase success and save money in college, today announced $5.5 million in series B funding led by Bain Capital Ventures, the venture capital affiliate of Bain Capital, one of the largest and most respected private investment firms in the world. Bain Capital has a long history of funding successful companies such as DoubleClick, LinkedIn, Princeton Review, SurveyMonkey, and The Learning Company. MyEdu plans to use the funding to expand its university partner network and introduce new services to help millions of users nationwide achieve a college degree more efficiently.

MyEdu provides a unique, holistic service to help college students and their families intelligently navigate the path to graduation -- from selecting the right college through to achieving their degree. By partnering with leading universities, MyEdu combines the largest warehouse of academic data in the U.S. with easy-to-use web applications that help students graduate on time, on-budget, and get the most from their college experience. More than two million students at 750 universities have used MyEdu to increase their college success.

"We work with great management teams to build market leaders, and our extensive research in this space helped us to quickly identify MyEdu's promise as an innovator in the online college services market," said Mike Krupka, managing director at Bain Capital Ventures. "Families are reeling from the staggering costs of college. MyEdu addresses this problem with powerful technology and a rich amount of unique academic data that significantly increase a student's ability to graduate faster and save money. We admire the industry expertise and entrepreneurial spirit of the management team, and we look forward to working with them."

"We're thrilled that a seasoned investor like Bain Capital Ventures believes so strongly in MyEdu's vision," said Michael K. Crosno, founder, CEO and chairman of MyEdu. "The depth of industry experience that the firm's partners offer will be invaluable in the next phase of our company's growth. MyEdu's services improve the college experience for students, but they also give parents the ability to help their children make well-informed decisions and stay up-to-date on their academic progress. Our goal is to save every family 20% on the cost of college through better planning and decision making."

About MyEdu Corporation

With more than a decade of partnership with leading universities, MyEdu is the definitive online source to increasing success and saving money in college. Combining the largest warehouse of academic information in the U.S. with easy-to-use web applications, MyEdu helps students to create a personalized graduation plan and make informed decisions about their courses, schedule, professors and major. More than two million students at 750 universities have used MyEdu to earn their degree. Learn more at www.myedu.com and follow us on Twitter at http://twitter.com/myedu.

About Bain Capital Ventures

Bain Capital Ventures (www.baincapitalventures.com) is the Boston-based venture capital affiliate of Bain Capital, which has approximately $65 billion of assets under management worldwide. Founded in 1984, Bain Capital and its affiliates have made investments in more than 300 companies. The firm's history of investing in early stage companies also dates back to 1984, having made over 125 venture-stage investments since inception including such companies as LinkedIn, Staples, SunGard, DoubleClick, Instinet, SolarWinds, ProfitLogic, Archer Technologies, Shopping.com, Taleo, m-Qube, Aspect Development, and Gartner Group. In 2001, Bain Capital Ventures was formed as a separate arm of Bain Capital to focus exclusively on growth investments. Bain Capital Ventures currently has approximately $1.5 billion in assets under management.

*MyEdu, Schedule Planner, Degree Analyzer, Degree Planner, Graduation Roadmap, Academic Dashboard and all other MyEdu brand and product names are service marks, trademarks or registered trademarks of MyEdu Corporation. All other marks are the property of their respective owners.

Contact Information

  • Contact:
    Tami Casey
    Kulesa Faul for MyEdu Corporation
    650-340-1984
    Email Contact