- Mobile-first education platform Aceable recently announced it closed a $50 million growth investment led by private equity firm HGGC. These are the details.
Mobile-first education platform Aceable recently announced it closed a $50 million growth investment led by private equity firm HGGC. And the investment will enable HGGC to partner with existing investors to support the company’s organic and inorganic growth initiatives.
Launched in 2012, Aceable has become known for reimagining state-accredited courses into digital learning experiences. And to date, Aceable has launched driver’s education and defensive driving courses as well as real estate certification courses. The additional funding round will be used to expand the number of certifications the brand offers with a specific focus on serving those looking to change or grow their career.
The global pandemic accelerated the rapid adoption of educational technology services and the need for an expanded set of skills and knowledge. And with millions of Americans experiencing COVID-related job loss, many are turning towards online courses to broaden existing skills or learn new ones. Plus Aceable’s mission is to empower success through high-stakes learning by delivering engaging, convenient, and high-quality digital courses with supporting tools and services.
With more than $100 million raised to date and the commitment from HGGC to invest more capital in the future, Aceable is primed to deliver against the immense demand for career growth and retraining. And 1 in 4 working professionals takes license and certification training a year.
Often these courses are the gatekeeper to a new career and the ability to retain one or can offer a promotion into a higher pay grade. And in a COVID-world of heightened unemployment and the inaccessibility and danger of classroom learning environments, effective online and mobile-first education is a must for the American economy.
Back in 2014, Aceable launched with just one 32-hour course. And now Aceable and its family of brands have grown to offer more than 2,200 hours of educational content.
The company also helped more than 13 million students across 36 states. And in addition to expanding the course catalog and content in new verticals, the funding will also support continued geographic expansion. Plus Aceable doubled the amount of approved real estate pre-licensing courses available in 2020 and is now looking to focus on obtaining certifications needed to offer its courses nationwide.
KEY QUOTES:
“Changing or growing your career can create new opportunities to reach your life goals. Our vision is to make it accessible to anyone to gain a skill and a certification capable of setting you on the path of a well-paid career that you love. We see HGGC as a strategic, long-term financial partner that embraces and accelerates our vision to create unparalleled education experiences that make it accessible for people to change their lives.”
– Blake Garrett, Founder and CEO of Aceable
“We are big believers in Aceable’s mission and their long track record of success in developing mobile-first education technology. Our investment reinforces our confidence in the team and will allow Aceable to grow to the next level while helping people achieve the life they want through continuing education.”
– John Block, Partner at HGGC
