Ares Capital Provides Regent Debt Financing
Regent Education announced a $9 million round of funding to support and accelerate the company’s growth. Ares Capital provided $5 million of debt financing. The company closed a $4 million Series C equity financing from both new and existing investors. New Markets Venture Partners joined lead investor Chrysalis Ventures in the investment syndicate.
The funds will be used to allow the company to respond to the tremendous demand for its solutions.
“To prosper in the 21st century, higher education institutions need to offer innovative solutions and modify the way they deliver education,” said Robb Doub, general partner at New Markets Venture Partners. “Increasingly, all types of institutions are turning to non-traditional enrollment models such as non-term, self-paced and competency-based education to meet students’ changing needs. Regent’s financial aid management system, Regent 8, is the only solution on the market today that can fully support these models, properly positioning these institutions for the changing landscape in higher education.”
“We have seen extraordinary demand for our solutions from all types of institutions: large and small, for-profit and not-for-profit,” said Randy Jones, CEO of Regent Education. “Our recurring revenue base has grown more than 300% in the last two years because of the ability of our products to solve some of the most challenging administrative processes in higher education, particularly for schools offering non-traditional enrollment models. As institutions adopt these new models in order to meet their growth and service objectives, they are hindered by the limitations of their existing systems. We not only remove that barrier, but also help them control costs through our advanced automation.”
In addition to Regent 8, Regent Education offers a variety of other solutions that help colleges attract more students and manage the onboarding and administration of those students more efficiently. The company’s software-as-a-service platform integrates with a variety of other systems that institutions use to manage their operations.
“We’re excited about Regent’s continued growth potential,” said Wright Steenrod, partner at Chrysalis Ventures. “The company’s innovative solutions resolve complex administrative and regulatory problems for its customers through advanced automation, and theirs is the only solution that supports the rapidly-changing business models in higher education today.”
Regent Education is a provider of financial aid management and enrollment process software solutions for schools using non-traditional enrollment models.