Campus Raises $46M Series B to Offer Low-Cost, High-Quality College Alternatives

Tade Oyerinde

Tade Oyerinde, a visionary entrepreneur originally from Nigeria, has successfully raised $46 million in Series B funding for his innovative for-profit community college startup, Campus. This initiative is designed to transform the landscape of higher education accessibility in the United States. The funding round, which was led by General Catalyst and announced on March 20, has propelled Campus’ total funding to over $100 million, underscoring the growing interest and investment in alternative educational models.

Campus is dedicated to making higher education more accessible and affordable for a diverse range of students. The institution offers online associate degrees and certifications in various fields, including business administration, medical assisting, and applied artificial intelligence. This approach not only broadens access to education but also aligns with the evolving demands of the job market.

Ken Chenault, chairman of General Catalyst, praised Campus in a statement, highlighting its commitment to blending the rigorous standards and legacy of American higher education with the advantages of modern technology and innovation. This combination is essential for equipping students with the skills necessary to thrive in an increasingly competitive global economy.

Founded in 2022, Campus provides live, online courses that culminate in two-year associate degrees and certifications across multiple disciplines, such as business administration, technical support, cosmetology, and medical assisting. Notably, the institution has introduced an applied AI concentration, addressing the significant surge in AI-related job opportunities, which have increased by over 70% in the past five years.

With an annual tuition fee of $7,200—fully covered by Pell Grant awards—Campus positions itself as a cost-effective alternative to traditional colleges, where tuition can range from $11,000 to $43,000 per year. This affordability is particularly crucial as the U.S. higher education system faces mounting financial pressures, with student loan debt reaching nearly $1.8 trillion. Prominent figures like Altman, who co-led a $29 million funding round for Campus in 2023, have expressed concerns that the current higher education model in America is on the verge of collapse due to its unsustainable costs.

Campus is not only focused on students but also on creating new opportunities for educators. The startup employs over 100 instructors, many of whom hold positions at esteemed institutions such as Princeton, Stanford, and Howard University. This collaboration ensures that students receive high-quality education from top-tier professors.

Graduates of Campus have successfully transitioned to four-year universities, including prestigious institutions like New York University, Penn State, and the University of California, San Diego. Additionally, the company is committed to helping students enter the workforce immediately after completing their programs, thereby enhancing their employability.

Tade Oyerinde shared his sentiments, “It’s really simple. In America, we should have elite education for everyone—everyone should be able to learn from the top professors in the country, develop useful skills, and then go on to use those skills to create a great life for themselves.” This vision encapsulates Campus’ mission to democratize education and empower individuals to achieve their personal and professional goals.

Source: Innovation Village