Acadeum, an Austin, Texas-based online course marketplace, has raised $7 million in Series A investment led by Lumina Foundation. Rethink Education, LearnStart and Socratic Ventures also participated, according to a statement from Acadeum.
Founded in 2016, Acadeum has developed a platform for colleges and universities to share their online courses. Higher institutions can be separated by geography or type of school into different consortia. Students are allowed to take a course offered by schools in the same consortium after payment, which is generally $200 a credit hour.
The company claims these online courses have saved about $12 million for students, and have generated $8 million for institutions.
Acadeum currently has 14 full-time employees, and will use the investment to hire marketing and sales professionals.
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