Warburg Pincus Leads $60M Infusion into Austin Edtech Firm Civitas
Private equity giant Warburg Pincus is leading an investment round of up to $60 million for Austin, TX-based Civitas Learning.
Civitas sells software to higher education institutions that is designed to help students make better curriculum and degree decisions. Civitas uses data analytics and builds school-specific predictive models around student enrollment, engagement, and graduation rates.
New York-Based Warburg was joined in the new funding round by existing Civitas investors, including Austin Ventures, SJF Ventures, and Gera Venture Capital.
“With this investment, we’re going to be able to improve and accelerate both learning and student outcomes for our partner institutions,” Charles Thornburgh, Civitas’s founder and CEO, says in a press statement.
So far, Civitas says it’s working with 850 campuses and 2.7 million students. Those customers include the University of Arizona, Austin Community College, and Texas A&M University. Civitas completed a $16 million Series C round earlier this year from Rethink Education, a New York venture firm that targets education innovation.
Founded in 2011, Thornburgh says the goal of Civitas is to help create an “ecosystem of educational innovation.” The company will work on enhancing its software so that it will also connect with apps developed by both its customers and other companies.
Civitas says it will also use the funding to make acquisitions that will expand the company’s international footprint. This past summer, Civitas announced it had acquired BlikBook, a company with offices in London and Dublin, Ireland, that makes similar products for European colleges and universities.