CampusLogic Experiences More Than 50% Growth In First Half of 2019
Adoption of award-winning, cloud-based student financial success platform continues to accelerate in colleges and universities across the US.
PHOENIX, AZ, JUNE 25, 2019—CampusLogic, higher education’s only end-to-end student financial success platform, today announced that it experienced more than 50% growth for the first half of 2019 over the same period in 2018, with significant growth driven by both the community college as well as the large public university markets. With increasing student debt loads, ongoing school budget pressures, and more intense competition for student enrollment, schools are looking for scalable technology options that can create a superior student experience while substantially reducing the percent of staff time spent on administrative overhead and non-student facing activities. CampusLogic’s modern cloud-based solution suite transforms what is often a largely manual and iterative process into a highly-personalized, student-centric experience that speeds cycle times, reduces call volume, and decreases rework in the financial aid office, allowing for a high level of transparency throughout the process.
CampusLogic’s highlights include:
More than 50% growth in annual recurring revenue at the end of the second quarter of 2019 compared to the same period in 2018
Net retention of over 114%
A 125% increase in clients that have implemented three or more CampusLogic products
Significant expansion in key markets, including California, Georgia, Michigan, Pennsylvania, Florida, and Texas
Addition of approximately 100 new customers in the last year from all higher education market segments: community colleges, public universities, and private institutions
Acquisition of Funderbolt, rebranded as SponsoredScholar, a tuition and scholarship crowdfunding platform that helps students close funding gaps without taking on additional debt
Announcement of VirtualAdvisor, which leverages Microsoft’s Artificial Intelligence engine as well as the authenticated user data within the CampusLogic products to deliver personalized, context-specific, multilingual support 24/7 to students and parents
“The first half of 2019 has been exceptional for CampusLogic, both from the sustained growth in new logo and back-to-the-base sales as well as the announcement of two new products, SponsoredScholar and VirtualAdvisor,” commented Gregg Scoresby, CEO, CampusLogic. “Colleges and universities will never fully deliver student success until they prioritize delivering student financial success. CampusLogic is uniquely positioned with the automation, artificial intelligence, and analytics to enable the digital transformation of the entire student financial success journey, from initial school evaluation through graduation.“
CampusLogic transforms the way higher education delivers student financial success with the first—and only—integrated platform that includes a net price calculator, online scholarship management, digital award letters, simplified financial aid verification, and instant financial aid insights. CampusLogic’s innovative software removes financial barriers to improve student access, inform borrowing decisions, and increase student completion in higher education. Over 500 schools serving 3 million students simplify the student finance journey, resulting in higher enrollment, streamlined processes, and improved retention with CampusLogic. For more information, visit campuslogic.com.