SimpleTuition Closes $4 Million Series D Funding Round
BOSTON, May 16, 2013 /PRNewswire/ -- SimpleTuition, Inc., a leader in providing tools and resources that help students pay less for college-related expenses and be smarter about how to manage their student debt, today announced it has closed a $4 million Series D funding round. This round of funding was led by previous investors Atlas Venture, Flybridge Capital Partners, and North Hill Ventures. The new funds will be used to fuel the growth of SimpleTuition's three core businesses – student loans, textbooks and rewards – with investment in product development, marketing and business development.
Each year, SimpleTuition helps millions of students and their parents make informed decisions about paying for college with its private student loan comparison tool. In 2012, SimpleTuition acquired ValoreBooks, an online textbook marketplace which offers low prices on new and used textbooks as well as rentals. ValoreBooks has realized tremendous growth since its acquisition and continues to expand into new categories including electronic and textbook buyback.
SimpleTuition also recently launched SmarterBucks®, a revolutionary rewards program that helps students pay back their loans faster and for less by automatically applying SmarterBucks rewards as extra payments to the principal of any student loan. SmarterBucks membership is growing rapidly and the company is focused on finding new and innovative ways for its customers to earn SmarterBucks rewards.
"SimpleTuition continues to find new ways to help students throughout the lifecycle of paying for college," said Kevin Walker, Co-Founder and CEO of SimpleTuition. "This begins before freshman year, when students are planning on how to pay for college, and can extend well beyond graduation when graduates are overwhelmed by student loan payments. We see an opportunity to help alleviate these pain points, and that includes helping students with understanding what it means to take on student debt, how to handle major college-related expenses, and how to manage their student debt." Walker continued, "This funding will help us keep up with the growth that our businesses are experiencing."
SimpleTuition helps more than 10 million students a year afford higher education. The company provides tips, advice, and interactive tools that ensure students plan better for college costs, pay less for college-related expenses, and be smarter about how they manage and pay back their student loans. In addition to its private loan comparison tool, SimpleTuition.com, the company operates ValoreBooks, SmarterBucks Rewards, and SmarterBank. SimpleTuition is headquartered in Boston, Mass., and is funded by Atlas Venture, Flybridge Capital Partners, and North Hill Ventures. For more information, visit SimpleTuition.com.
SOURCE SimpleTuition, Inc.