Businesswire | April 27, 2023
Summer, the certified B Corp committed to addressing the national student debt crisis, announced that it has raised $6M in new capital, with $18M raised in funding to date. General Catalyst, QED Investors, Flourish Ventures, Greycroft, Story Ventures, Gaingels, Calm VC, Partnership Fund for NYC, Fenway Summer, BDMI, and Avidbank participated in the financing.
The company also announced it has surpassed $1 billion in total projected savings for borrowers, and it has hired Leigh Gross as Chief Revenue Officer to lead partnerships with recordkeepers and other financial institutions interested in Summer Secure, the company’s automated solution for SECURE 2.0 retirement matching.
Student loan debt in the United States now stands at $1.75 trillion, according to the Federal Reserve, exceeding credit card and auto debt. It is often the first meaningful debt that young people incur, and can lead to a domino effect on their financial life–making it harder to save for retirement or buy a home years after graduating. Summer works with leading financial institutions, employers, and unions to provide a high impact, comprehensive digital solution that helps individuals plan for college costs, reduce the burden of student loan debt, and optimize retirement savings. To date, the company has delivered more than $1 billion in total projected savings for borrowers across the United States, offering assistance on every leg of the personal finance journey.
“We’re thrilled to announce this new funding, especially at a time when the need for better college planning and student loan solutions has never been more acute,” said CEO and co-founder Will Sealy. “As student loan forgiveness hangs in the balance and payments are set to resume for the first time in years, we’re excited to share our solution with more people to enable them to unlock financial freedom.”
Summer’s funding comes at an exciting time for the business as it continues to expand partnerships with retirement recordkeepers and payroll providers on the heels of its partnership with Fidelity Investments in 2022. Due to the recent passage of the SECURE 2.0 Act, many institutions are turning to Summer to support their employer clients with student loan retirement matching, leveraging Summer’s digital API suite and its expertise with operationalizing complex student loan policies into high-adoption solutions.
In a recent survey, 91% of employees with student debt said they would save more money for retirement if their employer offered a student loan repayment program. By ensuring that an employee’s student loan payments count toward the retirement match provided by their employer, Summer’s workplace solution can relieve student loan borrowers from having to make an impossible decision between paying down their debt or saving for retirement.
Summer was founded in 2017 by Sealy, a former Policy Analyst and Assistant to Sen. Elizabeth Warren and a veteran of the Consumer Financial Protection Bureau, Chief Product Officer Paul Joo, with previous experience at the U.S. Attorney’s Office and the Boston Consulting Group, and Chief Product Officer Vincent Tran, who previously led product at Pave and Orchard and was an investor at the Partnership Fund for NYC.
Summer’s recent partnership milestones include a student loan benefit launched with Intuit’s personal finance subsidiary, Credit Karma, and an expanded partnership with the American Federation of Teachers to support their 1.7 million teachers, government employees, and healthcare workers. Summer will use the new funding to expand the platform to help even more borrowers with a holistic approach to financial well-being.
Summer partners with financial institutions and employers to empower their populations to reduce education costs and student debt through proven technologies, policy expertise and human support. Founded in 2017 by industry experts, Summer’s mission is to alleviate student loan debt for 46 million borrowers by providing leading solutions for college cost planning, automated enrollment for loan assistance plans, tuition assistance, student loan contributions and retirement matching, and emergency savings. Summer is a certified B Corporation.
Businesswire | May 22, 2023
Boxlight Corporation a leading provider of interactive technology, digital signage, classroom audio, campus communication, and services announced that it has achieved the Education Services Partner Specialization in Google Cloud Partner Advantage. By earning the Partner Specialization, EOS Education has proven their capability and capacity in building customer solutions in the Education Services field using Google Cloud technology.
Partner Advantage is designed to provide Google Cloud customers with qualified partners that have demonstrated technical proficiency and proven success in specialized solution and service areas.
Partners who specialize in Education Services train educators on the use of Google technology in the classroom and lead schools through transformative change by providing guidance in vision, learning approach, culture, and community.
Since joining Google Cloud Partner Advantage in 2021, EOS Education has developed and facilitated thousands of professional development courses to support teachers and school staff on best practices for using Google platforms in the classroom efficiently and with confidence. Their dedication to providing dynamic interactive learning experiences has endeared them to districts and schools across the country.
“We rely on Google Cloud to streamline instruction for teachers. Our achievement of the Google Cloud Education Specialization recognizes our strategies to evaluate instructional priorities and provide relevant training on Google Workspace tools to meet the needs of all learners,” stated Christine Hall, Training and Development Specialist, EOS Education.
“Google training has become an essential component in modern education, empowering students and teachers with digital skills necessary to thrive in a technology driven world. EOS Education has recognized and embraced Google tools and techniques, providing high-quality training for clients to unlock new opportunities to learn, collaborate and innovate in their classrooms using the Google suite. Google is an important part of the education landscape and this investment into achieving this specialization was critical for Boxlight so our customers have the highest-quality Google training experience,” commented Karen Adams, Senior Vice President for Professional Services, EOS Education.
About Boxlight Corporation
Boxlight Corporation is a leading provider of interactive technology, digital signage, and campus audio, and services under its award-winning brands Mimio®, Clevertouch® Technologies, FrontRow, and EOS Education. The Company aims to improve engagement and communication in diverse business and education environments. Boxlight develops, sells, and services its integrated solution suite including interactive displays, digital signage, collaboration software, supporting accessories and professional services.
Businesswire | May 17, 2023
Watermark, a leading provider of software solutions for higher education, announced today a strategic partnership with Lightcast, a global leader in labor market data, analytics, and expert guidance. This collaboration will empower higher education institutions to make better-informed strategic planning and program review decisions by seamlessly integrating labor market data directly into Watermark's Planning & Self-Study software.
The partnership's goal is to bring the valuable labor market data already available in Lightcast Analyst directly to those charged with making critical decisions on the viability of program offerings.
With the partnership, Watermark will begin offering the Market Landscape Data Pack as an add-on to Watermark's Planning & Self-Study software, an award-winning solution which facilitates continuous improvement processes such as strategic and assessment planning, program review, and accreditation reporting. The data pack will provide institutions with the ability to understand their market landscape and ensure program relevance by providing curated labor market data points to the right people involved in the program review process at the right time.
Furthermore, institutions using both Watermark and Lightcast products gain significant advantages with a more efficient program review process and abilities to deep dive into opportunity areas using Lightcast Analyst or other Lightcast offerings such as Skillabi and Alumni Pathways.
"We are thrilled to partner with Lightcast to equip higher education institutions with the crucial data they need to make informed decisions benefiting their students and programs,” said Erin Shy, CEO of Watermark. “As labor market data becomes increasingly important in higher education, our partnership with Lightcast will enable institutions to integrate this crucial information into their planning and program review processes, ultimately leading to more successful outcomes for their students."
Formed in 2021 after the merger of Emsi and Burning Glass, Lightcast is a global pioneer in labor market data and analysis committed to connecting individuals with the right skills and jobs in the right places. With over two decades of experience and a client base of 1,500 organizations worldwide that serve learners and institutions (including colleges, universities, associations, ed tech firms, and more), Lightcast collects real-time data from over 50,000 sources daily. Combining this data with curated input from various statistical sources offers comprehensive insights into occupations, skills in demand, and career pathways. Lightcast helps businesses, communities, and educational institutions make informed decisions in the fast-changing world of work.
"Our partnership with Watermark is an exciting opportunity to further our mission of providing higher education institutions with the data they need to serve their students better,” said Chris Kibarian, CEO of Lightcast. “By integrating our labor market data directly into Watermark's software, we can help institutions save time, increase consistency and trust, and make more informed decisions about their programs and strategic planning."
Watermark and Lightcast are committed to helping higher education institutions navigate the ever-changing labor market landscape and adapt their programs and strategies accordingly. This initial offering marks the beginning of a strong collaboration focused on solving the critical challenge of delivering the right data to the right people for better decision-making in higher education.
Watermark advances educational impact by developing innovative technology that educators and institutional leaders can trust. Supporting over 1,700 higher education institutions worldwide, Watermark launched in 2018 following the merger of Taskstream, Tk20, and LiveText — three of the leading providers of assessment management technology in the industry – with Digital Measures, EvaluationKIT, and SmartCatalog. Aviso Retention joined the Watermark family in 2020. With solutions in the areas of assessment and accreditation management, faculty activity reporting, course evaluations and surveys, curriculum and catalog management, and student success and retention, Watermark’s more than 400 team members are committed to helping colleges and universities operate more strategically and effectively to maximize the impact they have on their students and communities.
Lightcast provides trusted global labor market data, analytics, and expert guidance that empowers communities, corporations, and learning providers to make informed decisions and navigate the increasingly complex world of work. With a database of more than one billion job postings and career profiles, Lightcast delivers best-in-class customer service with robust data, clear analysis, and expert guidance on skills, jobs, and opportunities.