Aceable, an Austin, Texas-based online education company, has raised $47 million in Series B funding led by Sageview Capital. The company will be using the funds to grow the team and expand into new industries. In conjunction with this round of funding, Dean Nelson and Mike McClure of Sageview Capital are joining Aceable’s board of directors.
In the past year, Aceable served over 550,000 students and outpaced projected growth in the real estate vertical. Plus the company scaled to over 100 employees. Aceable’s digital courses on the web and mobile devices empower millions of people to advance life goals through licensing, certification, and training.
“This funding will fuel the next inflection point in Aceable’s journey,” said Aceable chief executive Blake Garrett. “This past year we were able to validate that our teaching methodology is head-and-shoulders above the competition. Now it’s time to expand our catalog of five-star products across more markets and educational verticals.”
The educational content is dynamic and can be used across all major platforms and devices. Originally, the company started out with driver’s ed and then it expanded to real estate training.
Aceable also participated in the Capital Factory accelerator program. Some of the investors that are also involved in Aceable include Silverton Partners, Floodgate Fund, Next Coast Venture Partners, Wildcat VC, Nextgen Partners, and the Capital Factory Fund.
And in the Austin area, Aceable has made a major impact. The company was ranked in the top 10 on the Austin Business Journal’s Best Places to Work and the Austin American-Statesman Top Workplaces lists.
“The future of required education is online and mobile first, and the Aceable team has done a terrific job building a leading business at the forefront of this revolution,” added SageView partner Dean Nelson. “Aceable’s best-in-class product, exceptional team, and relentless drive to improve student outcomes position the company well to continue its impressive growth in both existing and new market verticals. We’re thrilled to be partnered with the Aceable team and look forward to helping them build a large and impactful education technology business.”