Founders Fund has led a $23 million Series A extension round for Campus, a pioneering community college startup revolutionising access to education in the United States.
Tade Oyerinde, the visionary founder and CEO, seeks to counter the dismal statistic that only 16% of community college students graduate with bachelor’s degrees within six years.
Driven by the ambition to democratise access to top-tier professors from prestigious universities like UCLA, Princeton and NYU, Oyerinde envisions a paradigm shift in higher education.
With a firm belief in providing quality education at an affordable price point, Campus attracts investors’ attention, securing substantial funding to fuel its innovative model.
Campus employs adjunct professors from esteemed institutions like Vanderbilt, Princeton and NYU, compensating them generously at $8,000 per course, significantly above the national average.
The annual cost for students stands at $7,200, with full coverage for Pell Grant recipients, ensuring accessibility for 40% of the student body.
Emphasising a holistic approach to education, Campus provides students with essential resources such as laptops, Wi-Fi, tutors, and dedicated coaches to facilitate their academic journey.
Enrollment surges as students view Campus as a gateway to higher education and career prospects.
Venturing beyond virtual learning, Campus purchases a physical college in Sacramento, offering hands-on courses in healthcare and cosmetology, catering to diverse educational needs.
The latest Series A extension, led by Founders Fund, highlights investors’ confidence in Campus’ scalable tech platform and disruptive business model.
Trae Stephens, a partner at Founders Fund, praises Campus’ ability to minimise costs and align with the objectives of federal Pell grants, mitigating the risk of student debt accumulation.
Despite its promising trajectory, Campus grapples with the challenge of recruiting dedicated coaches to support student success.
While attracting professors and students proves straightforward, finding individuals adept at maintaining long-term student engagement remains a hurdle.
Oyerinde remains steadfast in Campus’ commitment to affordability, graduation rates and student-centric education, striving to reshape higher learning in the United States.
