Stride Funding, a Boston, MA-based education funding startup, closed a $12m Series A financing.
The round was led by Firework Ventures, with participation from Juvo Ventures and Graham Holdings — alongside previous investors GSV Ventures, Slow Ventures, and Sinai Ventures.
Founded by Tess Michaels in 2018, while a student at Harvard Business School, Stride is a mission-driven funding provider that supports students and seeks to improve economic outcomes across alternative and higher education. The company offers students alternatives to fixed repayment installment loans via income-linked loans, Income Share Agreements (“ISAs”), and Deferred Tuition Agreements (“DTAs”), which offer flexibility and affordability to students, as payments are only required when they are earning a living wage.
Stride works by connecting with students through a host of school and university partnerships as well as via its direct-to-student funding platform. The company collects and analyzes educational and earnings data across a diverse set of programs to broaden access to financial products.
Since closing its Seed round, the company has increased the capital committed to fund students 50-fold to over $50m, with capital providers such as Silicon Valley Bank seeking to finance hundreds of millions in additional funds.