Tade Oyerinde, founder and chancellor of Campus, has always believed that top-tier education shouldn’t come with crippling debt. His online learning platform, which partners with professors from elite universities, just secured $46 million in Series B funding to further its mission, according to Afro Tech.
Many students in the United States enter community colleges to transfer to four-year universities, but only 16% of those students receive bachelor’s degrees within six years, according to research cited by Techcrunch.
Campus, founded in 2022, hopes to change that with its inexpensive and high-quality education that is unique. Described as America’s first national online community college, students across the country can enroll in business administration programs, including a business administration program with applied artificial intelligence (AI) concentration while California residents have additional options like paralegal studies and cloud administration. High school students can even earn free college credits through summer courses.
“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,” Oyerinde said in a news release. “And this should all be possible without going into debt – that’s what we’re building here at Campus.”
The latest funding round, led by General Catalyst, brings Campus’ total investment to over $100 million. Ken Chenault, General Catalyst’s chairman, emphasized the need for change in higher education.
“Students are questioning the value of a college degree, and with good reason. Academia simply hasn’t kept pace with expectations and aspirations, while the cost has increased to a price point beyond what is attainable or practical,” Chenault mentioned in the news release. “Campus has created a model that is rooted in the rigor and legacy of American higher education with the benefit of technology and innovation that students will require to thrive in an increasingly competitive global economy.”
In 2023, the college startup raised a $29 million Series A from investors like OpenAI CEO Sam Altman and Discord founder Jason Citron and later announced an additional $23 million in funding led by Founders Fund, with participation from 8VC.
Notable investors, including Altman and Citron, returned for this round, alongside backers like Founders Fund and Notion’s Akshay Kothari. The funding will be used to expand Campus’ team, enhance its technology, and help it to streamline operations—ensuring more students can learn from the best without financial burden.
