CampusLogic - Fastest Growing Company of the Year
Company: CampusLogic, Chandler, AZ, USA
Company Description: CampusLogic transforms the way higher education delivers student financial services. Easy. Mobile. Personalized. Cloud-based technology simplifies the process—so more students can get through thedoor andinto class. Today, more than 450 institutions enjoy improved enrollment, engagement, efficiencies, and overall satisfaction.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Fastest-Growing Company of the Year - in Canada and the U.S.A.
Nomination Title: CampusLogic Student Financial Services Platform
Tell the story about the growth of this nominated organization since 1 January 2017 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Begin this section with the following two lines: Year over year revenue growth (%): Year over year employee growth (%): TEXT REDACTED FOR PUBLICATION
Year-over-year revenue growth: 313.5%. Year-over-year employee growth: 82.2%. Year-over-year customer growth: 431.0%
Purpose-driven to help schools change lives, CampusLogic solves critical problems for colleges and universities around accessibility, borrowing, and completion. More than 3 million students drop out of college each year due to financial constraints. That’s 3,000,000 students leaving because of: Inefficient financial aid processing systems; Poor student engagement and communications; Poor organization of scholarships. Most financial aid offices struggle with low budgets and limited resources, leaving them with manual, paper-driven processes that don’t meet today’s students’ needs. No one was using technology to solve this problem. Until CampusLogic.
The CampusLogic student financial services platform features five powerful, scalable SaaS products. Today, more than 450 higher education institutions provide easy, mobile, personalized financial services to three million students nationwide, thanks to CampusLogic. We empower schools to provide the best student experience possible—and the mobile, real-time transparency students demand—grow enrollment,improve efficiency, andincrease student engagement. Our platform empowers schools to:
- Createcost and value transparency: ClearCost
- Streamlinescholarship management: ScholarshipUniverse
- Deliverdigital award lettersand financial communications: AwardLetter
- Simplifyfinancial aid formsand processes: StudentForms
- Enable strategic decisions throughdata: CampusMetrics
In 2017, CampusLogic secured $10 million in a Series B financing round, and in 2018 secured a Majority Recap of $55 million, led by JMI Equity, a growth equity firm focused on investing in leading software companies. Likely the most money to be raised by any AZ technology company this year, the $55 million will be used to fund future growth.
In early 2017, CampusLogic acquired Cegment’s Net Price Calculator and Award Letter business. Cegment, maker of the most widely-used commercial net price calculator, allows students to see the cost of a degree, including financial aid eligibility, loan debt, and estimated post-graduation monthly loan repayments. CampusLogic brought the Cegment NPC into our platform, enabling analytics on the student across the entire student journey—something unheard of in FinAid Offices before today.
In late 2017, CampusLogic beta-launched a disruptive mobile-friendly, streamlined scholarship management product:ScholarshipUniverse. ScholarshipUniverse uses an adaptive matching engine that learns from the student’s answers, interviewing each user in a personalized way and identifying relevant scholarship opportunity matches. Adaptive matching means that funds won’t go underutilized anymore—they’re now much more easily found. Designed to close student funding gaps, improve scholarship fund utilization, and bring in outside funding to colleges and universities, CampusLogic indexed a database of vetted external scholarships to the matching algorithm, helping schools bring in external funds while keeping students safe from scholarship scams. A configurable, workflow-driven process enables institutions to spread applications across reviewers for fair and efficient, paperless reviewing.
In 2017 we entered EdTech Digest’s Cool Tool Awards for the first time— the largest and most competitive recognition program in all of education technology—and we ranked a finalist.
In 2016, CampusLogic had 84 higher education customers. As of the end of 2017, that number was 446. Among the hundreds of institutions that joined us in 2017 are University of Oklahoma, Temple University, Auburn University, University of California, Irvine, Purdue University, and Ivy Tech Community College.
To help our customers drive the highest value, we launched UserCon in 2017. Our annual user conference, the inaugural event saw 52 users from 30institutions. In 2018,77 users from 41institutions enjoyed multiple tracks, panels and more. The 2019 event will be a two-day event hosted in Phoenix.
At CampusLogic, we’ve focused on balancing high growth, collaborative innovation with reliability and stability. And it’s working. In 2017 we placed #1,426 on the Inc. 5000 list of fastest growing U.S. companies—and placed #28 in Arizona.
In bullet-list form, briefly summarize up to ten (10) growth-related achievements of the nominated organization since 1 January 2017 (up to 150 words).
- Secured $10 million in Series B financing round
-Secured majority recap of $55 million, led by JMI Equity
-Welcomed 362 new customers
-Placed #1,426 on the Inc. 5000 list of fastest growing U.S. companies—#28 in Arizona
-LaunchedScholarshipUniverse, the only student-centric scholarship management technology in existence
-Acquired Cegment’s Net Price Calculator and Award Letter business.,
-Employee growth spurred move to a new home in Arizona’s Tech Corridor
-Nationwide shows exhibited at: 22 in 2016, 61 in 2017, including hosting our inaugural UserCon