Avathon's financial resources, strategic insights, access to talent, and industry expertise position ReUp to unlock opportunities for more adult learners, partners, and employees
CHICAGO and AUSTIN, Texas, Aug. 5, 2021 /PRNewswire/ -- Chicago-based Avathon Capital ("Avathon"), an impact-oriented investment firm focused exclusively on the education and workforce management markets, has invested in ReUp Education ("ReUp"). ReUp is a market leader in partnering with universities and community colleges to find, engage, and empower the 36 million Americans who stopped out of college without receiving a degree. It provides a personalized, tech-driven solution combined with a diverse team of coaches that has helped re-enroll over 16,000 students. Leveraging its expertise and learner insights, ReUp will also serve the estimated 50 percent of adults who need reskilling or additional education to achieve greater economic security or personal fulfillment in their jobs.
Together, the organizations will expand ReUp's products, services, team of coaches, and academic program options to serve all adult learners regardless of where they are in their past enrollment. Avathon will make significant investments in areas like technology and engineering, digital marketing, learner experience, data and analytics, and educational choice. ReUp's go-forward strategy will be to remove the obstacles that make it difficult for a learner to start or restart their educational journey, provide a personalized experience that aligns to their life and work goals, and produce better long-term career and educational outcomes. In doing so, ReUp will remove friction and confusion out of going to school as an adult, enabling more learners to achieve the dreams for themselves and their families.
"ReUp partnering with Avathon is a natural fit," said Sarah Horn, Co-Founder of ReUp. "After a thoughtful search, we've found a committed partner whose long-standing history of driving impact and working with technology-forward education companies tightly aligns with our mission. I am incredibly proud of the company and culture we've worked so hard to build and am confident Avathon's investment and involvement will allow us to build on that success and support even more learners who we know are out there."
"We believe deeply in the mission and see an incredible opportunity for ReUp and Avathon to radically change the way adult learners consider and gain access to educational options, support services, and career navigation pathways," added Shoshana Vernick, Managing Director at Avathon. "The platform that ReUp has built is scalable and unique, and we're looking forward to working closely with the incredible team to take the Company to the next level of impact and growth."
Avathon Bolsters Leadership Capabilities with Addition of Terah Crews as CEO
To support this next phase of growth, industry veteran Terah Crews will join ReUp as Chief Executive Officer on August 16. Co-Founder Horn will remain with the organization in the newly created role of Chief Impact Officer to double down on the impact ReUp provides its learners, partners, and employees.
Crews has a personal connection to ReUp's mission that drives her passion for helping adult learners. Like many of ReUp's learners, she herself was a stop-out. She found her way to college as a working adult in her mid-20s and went on to earn degrees from UNC-Chapel Hill, Brown, and Harvard. Crews brings with her more than 15-years of experience working on this challenge from different angles: from within an institution at Arizona State, as the former leader of a consulting group that specialized in helping schools innovate into new markets, and finally at Guild Education an edtech unicorn and industry leader in education as a benefit for working adults.
Crews said, "I was first introduced to ReUp five years ago and immediately connected with its mission as a stop-out student. As the organization reached more learners and in new ways, I only grew to admire it more and I am thrilled to be a part of its next chapter. I am already getting to know ReUp's learner centered culture and am working to grow the team and implement our go-forward strategy. Access to education changed not only my future but my entire family's. I am excited to help ReUp empower even more learners achieve their hopes and dreams."
East Wind Advisors represented ReUp in the transaction. Gunderson Dettmer and Baker Hostetler provided legal advice to ReUp and Avathon, respectively.
About Avathon Capital: Avathon Capital is an investment platform with over $400 million of assets under management that is committed to fostering innovation and impact in the education and workforce management markets. Avathon's principals are curious, creative, determined, and thoughtful investors. They show up prepared and ready to turn their relationships and experience into a competitive advantage for their partners. Avathon selectively targets opportunities where it can invest $10 to $50 million of equity capital and take a meaningful ownership position in companies with the potential to become enduring and strategically important businesses in their market. For more information visit: www.avathoncapital.com.
About ReUp Education: ReUp Education is the expert in understanding, engaging, and re-enrolling adult learners. Through its unique blend of data, technology and specialized coaching, ReUp has engaged more than 150,000 stop-out students across a wide range of universities and helped re-enroll over 16,000 students. For more information visit: https://reupeducation.com.
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SOURCE Avathon Capital
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