AUSTIN, Texas, Dec. 4, 2018 /PRNewswire/ -- Today, Aceable, the leader in digital high-stakes education, announced a $47 million Series B led by Sageview Capital. The funds will be used to expand the company's national footprint, grow the team and move into new industries. Dean Nelson and Mike McClure of Sageview Capital will also be joining the Aceable board of directors.
"This funding will fuel the next inflection point in Aceable's journey," said Blake Garrett, CEO of Aceable."This past year we were able to validate that our teaching methodology is head-and-shoulders above the competition. Now it's time to expand our catalog of five-star products across more markets and educational verticals."
Recent investments at Aceable have paid off: the company grew explosively over the last 12 months, serving more than over 550,000 students, repeatedly outpacing projected growth in the real estate vertical, scaling to over 100 employees, and adding proven horsepower in key new leadership roles. Its vibrant culture and supportive environment snagged top 10 spots on both the Austin Business Journal's Best Places to Work and the Austin American-Statesman Top Workplaces lists.
Raising the bar for required education, Aceable offers digital courses for the millions of people advancing their life goals through licensing, certification, and training. Aceable effectively meets the needs of students anytime and anywhere with a dynamic learning experience supported across all mobile and web platforms. The convenient, conversational courses in regulated spaces save users time and money over traditional brick and mortar offerings--and reap higher returns. With pass rates that routinely best the competition, Aceable's proven approach to learning not only ensures completion of required courses, but mastery.
"The future of required education is online and mobile first, and the Aceable team has done a terrific job building a leading business at the forefront of this revolution," said Dean Nelson, Partner at Sageview. "Aceable's best-in-class product, exceptional team, and relentless drive to improve student outcomes position the company well to continue its impressive growth in both existing and new market verticals. We're thrilled to be partnered with the Aceable team and look forward to helping them build a large and impactful education technology business."
"This past year has been transformative for the team, and Sageview's investment recognizes both the incredible traction we've garnered and the bright future ahead," added CEO Garrett.
Headquartered in Austin, Texas, Aceable is a mobile education platform that offers accredited education anytime, anywhere. Replacing tired formats with dynamic content that's easy-to-use across all platforms and devices, Aceable makes required education delightful and relevant. From its' origins in driver's ed--where it now has 70% of the Texas market--to the meteoric growth of real estate training, Aceable aims to empower tens of millions of people with the high-stakes education they need to accomplish their life goals and is consistently on city wide lists named one of the best places to work(Austin American Statesman and Austin Business Journal), Lastly, Aceable is proud of their roots in the Capital Factory accelerator program and to have received backing from great funds like Silverton Partners, Floodgate Fund, Next Coast Venture Partners, Wildcat VC, Nextgen Partners and the Capital Factory Fund. For more information about Aceable, visit www.aceable.com.
About Sageview Capital
Sageview Capital LP is a private investment firm providing growth capital to small and mid-sized companies in the technology, business services, and financial services sectors. The firm's investments include 360insights, Avalara, CallRail, Crimson Hexagon, Demandbase, DMT, Elastic Path, MetricStream, NAM, Reflexis, United Capital and Womply among others. Sageview was founded in 2006 and is led by Ned Gilhuly and Scott Stuart, former partners of Kohlberg Kravis Roberts & Co. (KKR) and Dean Nelson, former head of KKR Capstone. The firm has offices in Greenwich, Connecticut and Palo Alto, California. For more information, visit www.sageviewcapital.com.