Fenwick & West represented Civitas Learning, Inc., the Austin-based predictive analytics Software-as-a-Service (SaaS) innovator on a mission to help a million more students graduate every year by 2025, in a $16 million financing. The round was led by new investor Rethink Education and included returning investors include Austin Ventures and Emergence Capital.
The new round of funding will be used to continue Civitas’ remarkable growth trajectory, which has already seen the company more than double the size of its team to nearly 100, while continuing to add success-driven higher education institutions to its growing community, including recent additions Texas A&M University, University of Washington, The University of Texas at Austin, and Florida International University. More information about Civitas Learning’s $16M financing can be obtained from the company press release.
The Fenwick transaction team was led by corporate partner Michael Brown and corporate associates Evan Johnson and Adam Derry.