The Venture Codex Logo

The Venture Codex

Lumina Foundation

820 Massachusetts Ave., Suite 1390, Indianapolis, IN, 46204, United States

Overview

Lumina Foundation is an independent, private foundation committed to increasing the proportion of Americans with degrees, certificates and other high-quality credentials to 60 percent by 2025. Lumina’s outcomes-based approaLumina Foundation is an independent, private foundation committed to increasing the proportion of Americans with degrees, certificates and other high-quality credentials to 60 percent by 2025. Lumina’s outcomes-based approach focuses on helping to design and build an equitable, accessible, responsive and accountable higher education system while fostering a national sense of urgency for action to achieve Goal 2025.ch focuses on helping to design and build an equitable, accessible, responsive and accountable higher education system while fostering a national sense of urgency for action to achieve Goal 2025.

Total investments
17
Lead investments
4
Investments · 12mo
1
Active investors
3

Sector focus

  • Association
  • Education
Visit website

Investment portfolio

  • EdVisorly

    Participated · Series A · Jul 2026

    EdVisorly provides an admissions and enrollment automation platform called EddyAI that automates workflows such as transcript processing, transfer credit mapping, and GPA recalculations for colleges and universities. Institutions using the platform have reported reductions in manual processing of up to 85% and more than a 6x increase in admissions data processing productivity. EdVisorly partners with over 100 colleges, universities, and higher education systems, including the University of Connecticut, California State Polytechnic University, Pomona, University of Massachusetts, and Carnegie Mellon University. The company plans to continue investing in product and engineering, expand partner success and implementation teams, and build onboarding and adoption resources to scale institutional deployments. EdVisorly was founded by Manny Smith, an Air Force veteran and officer who attended the U.S. Air Force Academy and UC Berkeley's Haas School of Business.

  • Beam

    Participated · Series A · Nov 2022

    Previously known as Edquity, Beam operates an end-to-end cash assistance administration system that handles applications, ID verification, case decisions and payments for governments. The platform transmits funds through bank accounts, prepaid cards or online services like Zelle to serve communities equitably. Beam says it has helped process over $180 million to about 300,000 households and currently operates in 16 states with 53 governments. The company reported increased demand for its services following the COVID-19 pandemic. CEO David Helene said the company’s intent is to reduce friction and preserve dignity for applicants. Beam plans to use new funding to expand headcount and further develop its platforms.

  • Mentor Collective

    Participated · Series A · Jan 2022

    Mentor Collective builds a mentorship platform that pairs students with trained mentors using algorithmic matching and participant surveys. It provides structured curricula tailored to groups such as first-generation students, adult learners, veterans, and BIPOC students and supports virtual mentoring. Founded in 2014 and based in Boston, the company serves 165 institutional higher-education customers and has trained more than 50,000 mentors. Mentor Collective facilitated 83,000 mentorships in 2021 and doubled revenue last year, now nearing $10 million in annual recurring revenue. Internal analysis attributed a 3.84% increase in student retention and a 14% increase in sense of belonging to its programs. With new venture capital, the company faces strategic choices about scaling and whether to begin paying the volunteer mentors who currently supply much of its network. Mentor Collective is a Boston, MA-based technology platform that powers mentorship programs for colleges and universities by activating intentional relationships among students, alumni, and employer communities. The company partners with over 60 educational institutions, including Princeton University, Penn State, UC Davis, Indiana University, WashU, and San Francisco State University. To date it has created over 30,000 mentoring relationships. Mentor Collective was co-founded by Jackson Boyar (CEO) and James Lu Morrissey (COO). The company raised $3M in funding and intends to use the proceeds to expand its business reach. It aims to create 100,000 mentorships by the end of 2020.

  • Acadeum

    Participated · Equity · Mar 2021

    Acadeum operates a course-sharing platform that enables higher-education institutions to create academic partnerships and place students in online courses. More than 460 colleges and universities use its network to provide access to needed courses. The platform supports a wide range of learners, including high school students and full-time workers, to help them stay on track for timely graduation. Acadeum’s technology also supports sharing across national and regional consortia, including CIC, League for Innovation in the Community College, and the Southern Regional Education Board’s HBCU‑MSI consortium. The company has partnered with Coursera to expand institutions’ offerings of professional certificates aligned with workforce needs. Acadeum is led by CEO David Daniels and is based in Austin, TX. Acadeum operates Course Share, a marketplace that enables colleges and universities to form course-sharing consortia and allow students to access online courses from other institutions. The platform provides a global catalog of more than 40,000 online courses and powers consortia created by associations including the Council of Independent Colleges, the League for Innovation, the Council for Christian Colleges & Universities, and the Digital Higher Education Consortium of Texas. More than 300 colleges and universities use Acadeum’s cross-enrollment platform and over 14,000 students have taken courses shared through it. Founded in 2016 and led by CEO Josh Pierce, the company is based in Austin, Texas. In March 2021 Acadeum raised $5M in funding. Backers named in the raise included Rethink Education, Socratic Ventures, Lumina Foundation and LearnStart. Acadeum develops the Academic Sharing Platform™, a consortial course‑sharing system that lets faculty review and select courses from participating institutions that count toward graduation, GPA, and financial aid. The platform facilitates exchange of academic resources, student and enrollment data, and financial payments among member colleges and universities. Founded in 2016 and based in Austin, Texas, Acadeum supports formation of consortia including the Council of Independent Colleges, the Council for Christian Colleges & Universities, and Digitex. To date the platform has powered more than 150 separate consortia and enabled 5,000 students to complete courses. Institutions using the model have collectively generated over $10 million in additional revenue and used the approach to advance retention and graduation solutions. The company plans to use the new funding to grow and strengthen communities of course‑sharing institutions and expand use of best practices through the consortial model.

  • Noodle

    Participated · Series B · Jun 2020

    Noodle builds online and agile programs and a network of universities, higher-education leaders, providers, and students to accelerate innovation and efficiency in learning design, marketing, recruitment, technology, student and faculty support, and clinical placement. Led by CEO John Katzman, the company is a certified B Corp focused on elevating campus-wide teaching and technology. In 2020 Noodle acquired key assets of HotChalk, including its online program portfolio, the Creative Communications Associates (CCA) marketing agency, and associated marketing, enrollment, and technology teams. The company intends to use recent funding to activate growth for its university partners through acquisitions and innovation that help keep marketing and student support costs low. Noodle also plans to expand beyond degree programs to compete in the lifelong learning market. Financially, the company has raised over $125 million of equity capital since inception and recently closed a $50M Series C. Noodle Partners is a NYC-based provider of online and hybrid program services that aims to improve traditional classroom models. Founded by John Katzman, the company works with universities on every aspect of building certificate and degree programs, including marketing, student recruitment, enrollment, curriculum design, student engagement, support services, graduate placement and alumni engagement. It partners with about two dozen leading public and private universities, including the University of Tennessee, University of Virginia, University of Michigan, Howard University, Tufts University and Tulane University. Noodle Partners can build online programs and help make on-campus programs more efficient. Financially, the company raised $16M in a Series B and says it will use the funds to accelerate its growth; it has now raised more than $60M in total. Noodle Partners provides a platform and services that enable colleges and universities to build and scale online certificate and degree programs. The company supports universities across marketing, student recruitment, enrollment, curriculum design, student engagement, support services, graduate placement and alumni engagement. It is led by founder and CEO John Katzman and Chief Academic Officer Melora Sundt. Noodle works with institutions such as Tulane and American, plus about a dozen additional universities. The company raised approximately $14m in a Series A to support expansion of its online programs. The funds are earmarked to grow existing partnerships and expand program offerings at its partner institutions. Noodle Partners provides online program management services to higher‑education institutions, including program setup, instructional design, student recruiting, tech support, and measurement of student engagement. The company charges schools for setup and a flat fee per student rather than taking a large share of tuition. Founder John Katzman—who previously started The Princeton Review and co‑founded 2U—launched Noodle Partners to help institutions deliver higher‑quality, lower‑cost online programs. Management positions the offering as a response to changing higher‑education economics and declining college enrollment. Competitors named in the article include 2U, Academic Partnerships, HotChalk, Keypath, Pearson Embanet and Wiley Education Solution. The company intends to scale its OPM services and technology to more top colleges and expand enrollment at partner schools.

Team

  • Mary Laphen Pope

    strategy officer for community college participation

  • Amber Garrison Duncan

    Strategy Director

    LinkedIn
  • Erin Archer

    Chief Financial Officer

    LinkedIn