Rithm School Secures $25mm in Incentive-Aligned Tuition Financing Capital to Grow Income Share Agreement Program
Mar 22, 2021, 08:04 ET
NEW YORK, March 22, 2021 /PRNewswire/ -- Rithm School today announced the close of $25mm in growth financing to drive the expansion of their tuition financing programs. The San Francisco-based company trains students from a diverse set of backgrounds to be top-caliber software engineers. Rithm School plans to increase access to their elite program through the use of Income Share Agreements, which will be more widely available to students in eligible geographies as a result of this capital infusion. These incentive-aligned financing products demonstrate Rithm School's innovative ethos and dedication to student outcomes.
Rithm School has historically offered ISAs but has now partnered with Leif, the ISA Management Platform. Leif works with industry leading education providers who deliver exceptional outcomes to students across a variety of fields. Leif's outcomes-aligned tuition financing solutions include Income Share Agreements which help education providers maximize their program's growth and impact potential.
Elie Schoppik, founder and lead instructor at Rithm School, commented: "Incentive-aligned financing embodies our mission to transform students of all backgrounds into dynamic and highly skilled engineers. We chose to partner with Leif because they are the market's only full service ISA Program Manager, enabling us to quickly secure ISA financing and leverage their best-in-class technology solutions to streamline our origination and program management workflow. Leif's expertise made structuring, launching and financing our ISA program a smooth experience for Rithm School and our students."
"Leif is committed to partnering with the best education providers across the country and helping them maximize their impact by leveraging outcomes-aligned tuition financing in all its forms," remarked Jeffrey Groeber, CEO of Leif. "Rithm School shares this vision and has an extensive track record of delivering strong student outcomes. For this reason, we were thrilled by the opportunity to partner with Rithm School and increase access to their education."
About Rithm School:
Rithm School offers a full-time, 16-week, full stack web development immersion bootcamp in San Francisco, California. Rithm School was founded by a team of experienced software engineers and coding bootcamp instructors and aims to help students gain a deep understanding of how to become a professional software engineer through small class sizes, experienced instructors, and real world projects.
Leif is a technology company dedicated to increasing access to quality and affordable education. The company has developed an end-to-end platform that enables the design, origination, and program management of Income Share Agreement programs. As the infrastructure layer that powers the incentive-aligned tuition finance ecosystem, Leif partners with schools to provide students with an outcomes-oriented form of education finance.
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