Stride Funding Inc., a Dallas, TX-based education funding startup, raised additional venture funding and secured additional investment capital for its Income Share Agreement (ISA) Fund.
The new round of venture funding was led by New U Venture Partners, anchored by Western Governors University, while the ISA investment capital was committed by multi-billion dollar impact investors. The company also announced an exclusive strategic partnership with CampusDoor, an education finance technology provider.
Founded in 2018 and led by Tess Michaels, CEO, Stride Funding issues ISAs to students across the higher education landscape.
The company will use the new funds to accelerate development of the first widely distributed ISA, allowing students to ‘share’ a percentage of their future income in exchange for education funding over a set number of years.