Campus.edu, a New York City-based company working to make community college more accessible across the country, has secured $29 million in funding. The backers include Discord founder Jason Citron, OpenAI founder Sam Altman, Figma founder Dylan Field, former Stripe Issuing head Lachy Groom, Bloomberg Beta, Founders Fund, Rethink Education, Reach Capital, and Precursor Ventures, among others.
Led by founder and Chancellor Tade Oyerinde, Campus is an accredited college offering live online and in-person associate degrees and certificate programs. Its online degree programs, known as Campus Scholars programs, are taught by a network of professors from leading universities and HBCUs, such as Princeton, Spelman, NYU, and Vanderbilt. To ensure academic success, every student receives resources including a free laptop, free WiFi, unlimited tutoring, and individual support coaches. Campus also offers faculty an opportunity to supplement their existing teaching income, with the average Campus professor increasing their annual income by 20 percent.
Currently, the company has approximately 850 enrolled students. Last year, Campus acquired MTI College, a Sacramento-based college founded in 1965, with approval from its accreditor, the Accrediting Commission for Community and Junior Colleges (ACCJC). The remainder of the $29 million will be used to invest in its technology platform, recruit and retain professors, and enhance offerings to students