Tuition.io, a Santa Monica, CA-based employer-funded student loan repayment assistance platform, raised $7m in Series B funding.
The round was led by Wildcat Venture Partners with participation from existing investors Mohr Davidow Ventures and MassMutual Ventures LLC, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company.
The company, which has raised a total of $15.2m in funding, intends to use the funds to scale its sales and customer success teams, expand and deepen product offerings and drive market expansion.
Led by Scott Thompson, CEO, Tuition.io provides an enterprise-grade platform offering student loan repayment assistance as an employee benefit.
The company works with clients in a range of industries including entertainment, medical, banking, retail and now public entities. The list includes Live Nation, Staples, Fidelity Investments, Clark Patterson Lee, CyberSearch, EnVogue International, IntegriChain, Iowa Farm Bureau, Massage Envy Bay Area, MidwestOne Bank among others.
Tuition.io also added Scott Simmons as COO and CFO, and Danica Bracy as Senior Director of Partner Success, who will be based in the new San Mateo, CA office.