Tuition.io is a New York City–based provider of an education assistance benefits platform for employers. Its platform offers student loan repayment, Secure 2.0 retirement match, loan forgiveness support, tuition assistance, expert coaching and financial wellness tools. The company serves employers across industries, counting ADP, Carhartt, Emory Healthcare, Ford and Universal Music Group among its customers. Tuition.io received debt financing from ORIX Corporation USA’s Growth Capital business; the amount was not disclosed. The company said it intends to use the funds to expand operations and its development efforts. ORIX USA’s Growth Capital business has provided $2.7 billion in funding to 200 companies since inception. Tuition.io provides an enterprise-grade platform that enables employers to offer student loan repayment assistance as an employee benefit. The company serves clients across industries including entertainment, medical, banking, and retail, with customers such as Live Nation, Staples, Fidelity Investments and others. Tuition.io plans to use new funding to scale its sales and customer success teams, expand and deepen product offerings, and drive market expansion. The company has raised a total of $15.2M to date. Leadership includes CEO Scott Thompson; the company also added Scott Simmons as COO and CFO and Danica Bracy as Senior Director of Partner Success, who will be based in a new San Mateo, CA office. The product is positioned for enterprise clients and public entities, reflecting its focus on employer-centered benefits. Tuition.io provides a student loan management platform that enables global companies to offer student loan payments as an employee benefit. The company is led by founder and CEO Brendon McQueen and is based in Santa Monica, California. Launched in April, the platform is used by clients across industries including legal, tech and financial services. Tuition.io raised $5M in a Series A to accelerate enterprise customer acquisition and to grow its sales, customer success and engineering teams. Management says the funds will be used to further strengthen the company’s market position. The raise brought the company’s total funding to $8.2M. Tuition.io offers a Mint.com–style service that monitors and helps users manage their student loan payments. The company grew quickly after launch and now manages over $1 billion in aggregate student loans. Tuition.io was founded by CEO Brendon McQueen after he confronted his own $120,000 in student debt spread across multiple lenders. The startup has begun to generate early revenue from advertising driven by high blog traffic and is exploring additional monetization strategies. Its product targets a large market of U.S. borrowers—outstanding student debt exceeds $1 trillion—where many users lack clarity about what they owe. Venture investors have shown interest in the space as other startups raise large funding rounds for student lending and management solutions. Tuition.io provides a single interface for student borrowers to access and manage all their loans, visualize balances with charts and calendars, and receive personalized action plans to lower payments and accelerate payoff. The company launched a public beta six weeks prior to the article and is a member of Launchpad LA’s fourth accelerator class. Tuition.io does not currently originate or consolidate loans; its service is free for the foreseeable future. Since launch it has surpassed $250 million in aggregate user debt under management, covering over 40,000 loans from borrowers at 130 universities. Founder Brendon McQueen built the product to simplify onboarding and loan visibility, and the company has partnered with student-focused organizations like Student Veterans of America and OurTime.org. Future monetization could include fees or leveraging student financial profiles to offer refinancing or other loan services when appropriate.

Total raised

$13M

Funding rounds

5

Latest round

Series B

Latest activity

Sep 2017