Campus, an innovative online alternative to traditional community colleges, has secured a $23 million Series A extension round led by Founders Fund, with participation from 8VC. The company’s unique approach aims to address the challenges faced by students in the current education system, particularly in community colleges where graduation rates are often low.
Founded by Tade Oyerinde, Campus taps into a pool of adjunct professors from prestigious universities such as Vanderbilt, Princeton, and NYU, paying them higher-than-average salaries. This enables Campus to offer high-quality education at an affordable price point of $7,200 per year, with full coverage for students qualifying for federal Pell Grants.
Key to Campus’s success is its comprehensive support system, which includes access to laptops, Wi-Fi, tutors, and dedicated coaches to ensure students stay on track. This holistic approach has resonated with students seeking a modern and accessible education option, positioning Campus as a gateway to four-year programs for many.
The recent funding will fuel Campus’s expansion efforts and further enhance its tech-driven platform. Founders Fund sees potential in Campus’s scalable model, highlighting its ability to deliver education with minimal overhead costs, akin to a tech business. With an average class size of 75 students and a focus on maintaining tech-like margins, Campus aims to revolutionize the higher education landscape.
While Campus prioritizes affordability and student success, it remains vigilant against the pitfalls of for-profit colleges, emphasizing responsible practices aligned with the goals of Federal Pell grants. The company’s commitment to low-cost education and student outcomes sets it apart in an industry often plagued by debt and misleading claims.
As Campus continues to grow, it faces the challenge of recruiting coaches to support students effectively. While attracting professors and students is straightforward, finding individuals capable of building deep relationships and motivating students over the long term presents a unique hurdle for the company.
Despite the challenges, Campus’s innovative approach and strong investor backing position it as a transformative force in the education sector, with the potential to make a lasting impact on student success and accessibility.
