College enrollment and financial aid management tool Regent Education has raised $9 million in its latest round of funding to help colleges handle student enrollment and process the many ways they pay for school.
“Increasingly, all types of institutions are turning to non-traditional enrollment models such as non-term, self-paced, and competency-based education to meet students’ changing needs,” Robb Doub, General Partner at New Markets Venture Partners, which has invested in the company, said in a press release. “Regent’s financial aid management system, Regent 8, is the only solution on the market today that can fully support these models.”
The funding includes a $4 million raise in equity financing, with New Markets Venture Partners leading the round. New Markets has invested in a number of education tech startups, like Calvert Education Systems, which provides digital lessons for homeschooled kids, and news service Mashable. Ares Capital provided $5 million of debt financing. The company will use the funds to further develop its array of products for administrative tasks.