 Home Industry Press Releases Industry Press Release Article
|
Wednesday: April 26, 2006 |
|
Capella University Capella Education Company Raises $16.7 Million in New Equity Forstmann Little and Putnam Investments Lead Investment Round Minneapolis, March 7, 2002 - Capella Education Company, the parent company of Capella University, today announced the completion of a new round of equity financing totaling $16.7 million. Forstmann Little & Co. and Putnam Investments led the round of financing, with additional capital provided by ThinkEquity and RBC Capital Markets. The proceeds of the financing will be used to fund Capella's growth strategy and develop additional degree and course offerings. "Capella is excited to be closing this round of financing with such high quality investors as Forstmann Little and Putnam," said Steve Shank, CEO of Capella Education Company. "This funding marks another stage in the growth of Capella as we continue to deliver on the potential of higher education for today's adult learners and employers." "Capella University has a proven track record of providing quality adult education and a business model that can deliver high value," said Gordon Holmes, partner of Forstmann Little. "As a recognized leader in online education, we believe that Capella has demonstrated that it has the focus and discipline to succeed over the long term." Founded in 1993, Capella University is an accredited online university that offers courses, certificates and degree programs to more than 5,000 enrolled learners located in all 50 states and in 40 countries. Capella University's revenues have grown at a compounded annual growth rate of 95 percent, going from $1.1 million in 1996 to $30 million in 2001. Capella Education Company has been named to Inc. magazine's list of the 500 fastest-growing private companies for the past three years. "Capella has increasingly become a preferred provider of online degree education," said Michael J. Mufson, managing director and director of specialty growth equity at Putnam Investments. "We see Capella University at the top of the list of educational innovators with the potential to create value by delivering an education with real impact." Legg Mason Wood Walker, Inc. acted as placement agent on behalf of Capella in this transaction. Capella University is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools. About Capella University Capella University is a fully on-line academic institution accredited by the North Central Association of Colleges that serves adult learners and employers. Founded in 1993, Capella University offers degree programs and certification in business, technology, education, human services and psychology. Educating more than 5,000 learners across the United States and internationally, Capella uses the power of the Internet to remove institutional and logistical barriers for learners by providing a rewarding and efficient path to increased professional value. Central to Capella's approach is the high degree of on-line interaction with expert faculty, achievement oriented learners and a university staff passionate about each individual's success. Capella University is affiliated with the for-profit Capella Education Company, headquartered in Minneapolis. For more information, visit Capella University at www.capella.edu or call 888.CAPELLA. |