The company said it appointed a new chief executive, Douglas H. Dolton, formerly CEO of Chela Education Financing.
The financing was led by Bessemer Venture Partners, an existing investor. Benchmark Capital and Wellington Partners also invested in the latest round. Benchmark has also backed competitor Prosper.
Here’s the company’s announcement, which provides background on Dolton. Under his leadership, San Francisco-based Chela grew into a significant student loan company.
The company has now raised about $34 million.