Aceable Receives $50 Million Growth Investment from HGGC
The EdTech platform will use the capital to expand to new verticals, giving people the opportunity to change careers and gain access to higher-paid positions
AUSTIN, Texas, Dec. 17, 2020 /PRNewswire-PRWeb/ -- Aceable, the mobile-first education platform, today announced that it has closed a $50 million growth investment, led by private equity firm HGGC. The investment will allow HGGC to partner with existing investors to support the Company's organic and inorganic growth initiatives.
First launched in 2012, Aceable has become known for reimagining state-accredited courses into digital learning experiences consumers love. To date, Aceable has launched driver's education and defensive driving courses, as well as real estate certification courses. The additional funding 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 has accelerated the rapid adoption of EdTech services, and the need for an expanded set of skills and knowledge. With millions of Americans experiencing COVID-related job loss, many are turning towards online courses to broaden existing skills or learn new ones. 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.
"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," said Blake Garrett, Founder and CEO of Aceable. "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."
"We are big believers in Aceable's mission and their long track record of success in developing mobile-first education technology," said John Block, Partner at HGGC. "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."
With over $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. One in four working professionals takes license and certification training a year. Often these courses are the gatekeeper to a new career, the ability to retain one, or can offer a promotion into a higher pay grade. 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.
In 2014, Aceable launched with just one, 32-hour course. Today, Aceable and its family of brands have grown to offer more than 2,200 hours of educational content. The company has helped more than 13 million students, across 36 states. In addition to expanding the course catalog and content in new verticals, the funding will also support continued geographic expansion. 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. Aceable is based in Austin, TX, and is consistently rated as one of the best places to work in Austin, TX as awarded by BuiltIn, Austin Business Journal, and the Austin American Statesman.
About Aceable
Headquartered in Austin, Texas, Aceable is a mobile education platform that offers accredited education anytime, anywhere. Replacing tired formats with dynamic content that's easy-to-use across all platforms and devices, Aceable makes required education delightful and relevant. From its origins in driver's ed--where it now has 70% of the Texas market--to the meteoric growth of real estate training, Aceable aims to empower tens of millions of people with the high-stakes education they need to accomplish their life goals and is consistently on city-wide lists named one of the best places to work (Austin American Statesman and Austin Business Journal). Lastly, Aceable is proud of its roots in the Capital Factory accelerator program and to have received backing from great funds like Sageview Capital, Silverton Partners, Floodgate Fund, Next Coast Venture Partners, Wildcat VC, Nextgen Partners, the Capital Factory Fund and now HGGC. For more information about Aceable, visit http://www.aceable.com.
About HGGC
HGGC is a leading middle-market private equity firm with over $5.4 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has completed more than 198 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $27 billion. More information, including a complete list of current and former portfolio companies is available at http://www.hggc.com.
Media Contact
Seth Leavitt, Aceable, (617) 791-7951, [email protected]
SOURCE Aceable
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