Regent Education Inc., a developer of financial aid management software, took in $8.25 million in a second funding round, VentureWire reports. Chrysalis Ventures led the round with a $2.75 million contribution, while previous investor Edison Venture Fund brought in $2.5 million.
Chrysalis managing director Bob Saunders and Edison principal Sever Totia both sit on Regent’s board. The Frederick, Md. tech company provides software to institutions of higher education, among others, to streamline the administration of financial aid to students. It plans to sink its new funds into market penetration efforts and product development.