Tade Oyerinde, a Nigerian-born tech entrepreneur, has successfully raised $46 million in Series B funding for his innovative community college startup, Campus. This funding round, led by General Catalyst and announced on March 20, elevates the total investment in the company to over $100 million, reinforcing the startup's commitment to transforming higher education accessibility in the United States.
Campus is on a mission to enhance access to higher education by offering affordable online associate degrees and certifications across various fields, including business administration, medical assisting, and applied artificial intelligence.
Ken Chenault, chairman of General Catalyst, praised Campus for its unique approach, stating that the startup is merging the rigorous academic standards of American higher education with the advantages of technology to better prepare students for a competitive job market.
A New Approach to College Education
Founded in 2022, Campus provides live online courses leading to two-year associate degrees and industry certifications. The curriculum includes training in essential areas such as business administration, technical support, cosmetology, and medical assisting. Recognizing the increasing demand for skills in artificial intelligence, Campus has also introduced an applied AI concentration. According to research from Observer, job postings requiring AI expertise have surged by over 70% in the past five years, underscoring the relevance of the program.
With an annual tuition fee of $7,200—fully covered by Pell Grant awards—Campus presents a financially viable alternative to traditional colleges, where yearly costs can range between $11,000 and $43,000. This affordability is particularly appealing in a U.S. higher education landscape grappling with significant financial strain, as student loan debt approaches a staggering $1.8 trillion. Notably, Sam Altman, who co-led a prior $29 million funding round for Campus in 2023, has voiced concerns regarding the sustainability of the American higher education system amid rising costs.
Opportunities for Students and Educators
Beyond its focus on students, Campus is dedicated to creating meaningful teaching opportunities for educators. The startup employs over 100 professors, many of whom also hold positions at prestigious institutions like Princeton, Stanford, and Howard University. This collaboration enriches the learning experience for students, as they benefit from the expertise of renowned educators.
Graduates of Campus have successfully transferred to respected four-year universities, including New York University, Penn State, and the University of California, San Diego. Additionally, the institution supports those who choose to enter the workforce immediately after completing their programs, demonstrating a commitment to diverse pathways for success.
Tade Oyerinde emphasizes that access to high-quality education should not be determined by one's background or financial status. He envisions a future where everyone has the chance to learn from top-tier educators, acquire practical skills, and build a successful career.
The $46 million funding round positions Campus to expand its reach and impact, reinforcing its role as a significant player in the ongoing movement toward more accessible and affordable higher education in the U.S.
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