PSG, a leading growth equity firm that specializes in partnering with software and technology-enabled services companies, has recently announced a strategic growth investment in two software companies serving career, community, trade, and higher education institutions and their students: Verity IQ, a customer relationship management (“CRM”) and student information system (“SIS”) provider, and Campus Ivy, a provider of financial aid solutions. The investments aim to enrich each company’s existing offerings with additional features and functionality and strengthen the seamless integration of their solutions.
However, the financial terms of the deal were not disclosed.
Both companies were founded by experienced education professionals who recognized the limitations of existing tools in the market. Driven by a shared commitment, they focused on enhancing the experience for students and educational institutions with innovative technological solutions. Verity IQ’s solutions, including “Verity Dialog CRM” and “Verity Student SIS,” help higher education institutions manage the entire student lifecycle. The CRM facilitates multi-channel student recruitment and retention communication and guides prospective students through the admissions process with paperless and e-signature workflow automation.
Speaking about the company, Cornelia Anderson, Co-founder & CEO of Verity IQ, said:
We started this company as a direct result of our experience with the challenges caused by school departments operating with outdated and incompatible products and services and have seen first-hand the impact this has on the student experience. We built Verity IQ to provide essential systems to address notable pain points – decentralized data, lack of visibility across departmental performance, lack of automation, and inefficiencies in school operations.
Campus Ivy helps institutions transform their financial aid administration with a focus on the student experience to help improve the efficiency of financial assistance and compliance for institutions and students across three offerings: cloud-based financial aid automation software, including a user-friendly interface for students to access important information related to their awards, outsourcing services, encompassing processing, packaging and file review, reconciliation, and verification; and professional services for expert guidance in federal student aid management, from compliance audits to Title IV training, and more.
Adding further about the development, Cid Yousefi, Co-founder, President & CEO of Campus Ivy, stated:
PSG’s track record investing in education technology and their excitement about the future of our industry make them a strong partner to accelerate our vision.
Marco Ferrari, managing director of PSG, also commented:
PSG has a deep conviction in the potential for innovative technologies to transform education, and we have been actively investing in EdTech for many years. We’ve closely monitored the increasing demand for trade and vocational schools and community colleges, driven by the shortage of skilled vocational workers and the rising costs of higher education, among other tailwinds. In our view, Verity IQ and Campus Ivy have distinguished themselves as leading providers of crucial solutions that support the entire student lifecycle, evidenced by the many institutions that choose to work with both providers.
Additional education technology companies in PSG’s portfolio include Aztec Software, DigitalEd, Lumaverse, Packback, Pathful, and SchoolStatus.
