Aceable, a mobile-first education technology platform, has raised $50 million in a Series C funding round led by private equity firm HGGC.
The Austin, Texas-based company said the latest funding will be used to expand its organic and inorganic growth initiatives and the number of certifications it offers, with a specific focus on serving those looking to change or grow their careers.
Founded in 2012 by Blake Garrett, Aceable aims to empower people with the high-stakes education they need to accomplish their life goals. Since its inception, the company has become known for reimagining state-accredited courses into digital learning experiences learners love. It offers affordable, high-quality, and accredited online courses anytime, anywhere, with dynamic content that’s accessible across all platforms and devices. Aceable has to date launched driver’s education and defensive driving courses, as well as real estate certification courses.
Launched with just one 32-hour course in 2014, Aceable now counts more than 2,200 hours of educational content on its platform. The company claims to have helped more than 13 million students across 36 states.
Talking about the company and the latest development, Blake Garrett, Founder and CEO, Aceable, said in a statement,
“Changing or growing your career can create new opportunities to reach your life goals. Our vision is to make it accessible to anyone to gain a skill and a certification capable of setting you on the path of a well-paid career that you love. We see HGGC as a strategic, long-term financial partner that embraces and accelerates our vision to create unparalleled education experiences that make it accessible for people to change their lives.”
The global pandemic has accelerated the rapid adoption of EdTech services, and the need for an expanded set of skills and knowledge. Millions of people are experiencing COVID-related job loss, and many are turning towards online courses to broaden existing skills or learn new ones. Aceable aims to empower success through high-stakes learning by delivering engaging, convenient, and high-quality digital courses with supporting tools and services.
John Block, Partner at HGGC, commented on the investment,
“We are big believers in Aceable’s mission and their long track record of success in developing mobile-first education technology. Our investment reinforces our confidence in the team and will allow Aceable to grow to the next level while helping people achieve the life they want through continuing education.”
In addition to expanding the course catalog and content in new verticals, Aceable said the funding will also support its continued geographic expansion. The company also said that it has doubled the amount of approved real estate pre-licensing courses available in 2020, and is now looking to focus on obtaining certifications needed to offer its courses nationwide.
Similar startups have also landed tens of millions of dollars to capture this newfound interest in reskilling or upskilling. In June this year, California-based upskilling platform Degreed raised $32 million to meet the growing demand for better skill insights, talent mobility, and a user-focused learning experience.
Aceable has till date raised more than $107 million from private investors. Spun out from the Capital Factory accelerator program, the company is backed by investors like Sageview Capital, Silverton Partners, Floodgate Fund, Next Coast Venture Partners, Wildcat VC, Nextgen Partners and now HGGC.