Noodle, a New York-based Adtech startup that creates online and agile programs that enhance campus-wide learning and technology, recently announced that it has raised $ 50 million in Series C funding.
The round was led by funds and accounts managed by BlackRock, and was joined by several existing investors, including Owl Ventures. Barclays worked as a special placement agent.
The latest investment will allow Noodle to invest in acquisitions and innovative investments for its university partners that will help them reduce marketing and student support costs and enable them to move beyond degree programs to compete in the lifelong learning market, according to a press statement.
Founded in 2014 by John Katzman, Noodle’s online and hybrid programs increase student-professor engagement, increase capacity and flexibility, reduce operational costs and increase profit opportunities for collaboration between institutions. Noodles promotes innovation and efficiency in university networks, higher education leaders, providers and student education design, marketing, recruitment, technology, student and faculty support, and clinical placement.
Speaking about the company and the latest funding, Noodle CEO John Katzman said,
“Since the beginning, Noodle has been transforming the online education market, first offering more attractive revenue models than traditional OPMs and, more recently, launching more attractive lifetime learning models for universities and students. Keeps looking for new ways to reduce costs, increase capacity and increase student / faculty engagement. “
Noodle claims that since January 2019, it has launched online programs with highbrow schools and universities, bringing together all of its competitors. So far in 2021, 66% of all degree partnerships have been signed, including the top 200 universities in the country.
Responding to the investment, William Abacusis, head of innovation capital at Black Rock, said:
“We look forward to leading this investment because of our belief that significant digital transformation is taking place in higher education and Noodle’s proven team, impressive track record and compelling mission.”
Alex Pavlovich, head of education technology at Barclays, said the series C financing is a testament to the continued success and growth of the noodle initiative, the fee-for-service model.
Noodle raised more than 30 3 million in Series B funds in 2020, led by the San Francisco-based Valuect Spring Fund, followed by the Lumina Foundation and existing investors. As with all previous rounds, the company has raised $ 125 million in equity capital since its inception. That same year, Noodle acquired HotChalk’s flagship asset, a leading online program manager (OPM), creative communications associates (CCA) marketing agency, and their acclaimed marketing, enrollment and technology team.
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