Aceable Receives $50 Million Growth Investment from HGGC
Aceable, the mobile-first education platform, today announced that it has closed a $50 million growth investment, led by private equity firm HGGC. The investment will allow HGGC to partner with existing investors to support the Company’s organic and inorganic growth initiatives.
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First launched in 2012, Aceable has become known for reimagining state-accredited courses into digital learning experiences consumers love. To date, Aceable has launched driver’s education and defensive driving courses, as well as real estate certification courses. The additional funding will be used to expand the number of certifications the brand offers, with a specific focus on serving those looking to change or grow their career.
The global pandemic has accelerated the rapid adoption of EdTech services, and the need for an expanded set of skills and knowledge. With millions of Americans experiencing COVID-related job loss, many are turning towards online courses to broaden existing skills or learn new ones. Aceable’s mission is to empower success through high-stakes learning by delivering engaging, convenient, and high-quality digital courses with supporting tools and services.
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With over $100 million raised to date, and the commitment from HGGC to invest more capital in the future, Aceable is primed to deliver against the immense demand for career growth and retraining. One in four working professionals takes license and certification training a year. Often these courses are the gatekeeper to a new career, the ability to retain one, or can offer a promotion into a higher pay grade. In a COVID-world of heightened unemployment and the inaccessibility and danger of classroom learning environments, effective online and mobile-first education is a must for the American economy.
In 2014, Aceable launched with just one, 32-hour course. Today, Aceable and its family of brands have grown to offer more than 2,200 hours of educational content. The company has helped more than 13 million students, across 36 states. In addition to expanding the course catalog and content in new verticals, the funding will also support continued geographic expansion. Aceable doubled the amount of approved real estate pre-licensing courses available in 2020, and is now looking to focus on obtaining certifications needed to offer its courses nationwide. Aceable is based in Austin, TX, and is consistently rated as one of the best places to work in Austin, TX as awarded by BuiltIn, Austin Business Journal, and the Austin American Statesman.
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