Student Loan Manager Holds $7M Round

0

Tuition.io of Santa Monica has raised a $7 million Series B round, the student loan management company said last week.

Tuition’s online platform gives companies a management program to help pay off employees’ student loan debt. Its customers include Live Nation, Staples and Fidelity Investments.

Student loan repayment programs have become an increasingly popular employee benefit as recent graduates enter the workforce with heavier debt loads.

The Series B round was led by Wildcat Venture Partners of San Mateo with participation from existing investors Mohr Davidow Ventures of Menlo Park and MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Co. of Springfield, Mass.

Tuition said it plans to use the capital to hire additional sales and customer service representatives and expand the company’s number of products.

– Garrett Reim

No posts to display