Lumion, a company building the most comprehensive operating system for career and trade schools, announced it has raised a total of $10.7 million in seed funding led by TTV capital with recent participation from Tusk Venture Partners. The funding round also included existing investors from TTV Capital, CreativeCo Capital, Nine Four Ventures, Innovating Capital, and the State of Wyoming.
The pitch: This funding comes amid a significant moment for the U.S. workforce. And as the country faces a critical skilled labor shortage, enrollment growth in trade and technical programs is outpacing that of four-year colleges. Lumion is emerging as the infrastructure layer that enables schools to meet that demand, streamlining student acquisition, operations, and outcomes from end to end.
Focused initially on student financing, Lumion evolved into an All-in-one SaaS platform enabling trade and technical schools to grow efficiently and serve more students. Over the last year, the company has tripled its revenue, customer base, and team, supporting over 100,000 students across more than 260 partner schools in 29 different industries.
Major Product Lines: The new Lumion Platform includes three major product lines:
1.) Enrollment – Schools can now generate and manage prospective student leads from their own website, funneling them into a centralized enrollment flow with applications, communication, scheduling, and onboarding capabilities.
2.) Payments – Once a lead is captured and nurtured, students are guided through all available payment options, including upfront payment, a lender marketplace, and school-administered payment plans, ensuring increased enrollment, retention, and collection. Lumion handles all collections and servicing on behalf of schools.
3.) Full-Service SIS Capabilities – Lumion provides centralized comprehensive reporting of all student activities and interactions, bringing clarity and insights to school operators.
Milestones: To date, Lumion has:
— Processed over 140,000 tuition payments
— Enabled 1,690 school administrators
— Delivered about $20 billion in human capital impact
— Grown to a 35-person team headquartered in Salt Lake City
KEY QUOTES:
“Trade schools have been stuck managing mission-critical processes across spreadsheets, disconnected CRMs, and legacy student information systems (SISs). We’ve built the ultimate platform to unify the full student experience from lead capture all the way through alumni tracking.”
Joshua Hagani, CEO of Lumion
