ConnectEdu Closes $7M Round

Boston-based ConnectEdu, a provider of Web-based platforms for college admissions and career planning, announced today that it has closed a $7 million funding round, led by existing backer Allen & Co., and a return group of individual investors in the education, private equity, and Internet spaces. We first reported on this financing last week, when an SEC filing revealed that the firm had brought in $4.9 million of the funding round, from 47 unnamed investors. With the newest funding, ConnectEdu’s board will bring on former U.S. Secretary of Education Margaret Spellings and H. Jay Sarles, former vice chairman of Bank of America and current operating advisor at Providence, RI-based Nautic Partners. ConnectEdu will use the newest funding to invest in statewide initiatives for its technology, expanding its regional service centers, and in growing its online assessment and evaluation system and its Web-based college admissions form completion system.

Author: Erin Kutz

Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.