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Augusoft Acquired by Modern Campus
The acquisition extends the Modern Campus customer base to nearly 2,000 colleges and universities across North America. With Augusoft and its flagship Lumens product, Modern Campus now offers the most robust set of capabilities, including products, services, and partnerships to serve the complete needs of non-traditional learners.
Cem Erdem ,
CEO & Founder
SEG played a critical role in the success of my transaction by running a competitive process and keeping all parties engaged until the last minute. They are great at what they do, and their success comes from their people. They employ brilliant young minds who are very capable, impressive individuals, and as a team, they work wonders. I strongly recommend SEG to any entrepreneur thinking about an exit. I first started talking to them five years prior to my transaction. Start talking to the SEG team now and have them in your corner. The earlier, the better."
- Cem Erdem, Founder & CEO, Augusoft
The Riverside Company
SEG served as exclusive advisor to Augusoft
Client Description
The company
Augusoft is a provider of cloud-based enrollment management software for continuing and corporate education programs. Today, Augusoft serves hundreds of schools throughout the U.S. and Canada. Over 8 million students have registered for continuing education classes, and over $3 billion in transactions have been processed using Augusoft Lumens.
The software
Augusoft’s purpose-built platform, Lumens, is the first web-hosted SaaS class registration management system designed specifically for non-credit continuing education, corporate education, and workforce development programs. Complementing traditional academic systems, Augusoft Lumens increases online self-registrations up to 80%, reduces cancellation rates, and provides the best data collection and reporting tools.
Headquarters
Minneapolis, MN
Buyer Description
The company
Modern Campus is a leading engagement platform for higher education. Backed by The Riverside Company, Modern Campus was formed by the merger of former SEG clients, OmniUpdate and Destiny Solutions, and has subsequently made a series of acquisitions.
The software
The Company offers solutions for non-traditional student management, web content management, catalog and curriculum management, student engagement and development, conversational text messaging, career pathways, campus maps, and virtual tours.
Headquarters
Camarillo, CA
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PRESS RELEASE OVERVIEW
SEG Client, Augusoft, Acquired by Modern Campus
January 19th, 2022 – Modern Campus, backed by The Riverside Company, today announced the acquisition of Augusoft, a leader in enrollment management for continuing and corporate education programs. The acquisition extends the Modern Campus customer base to nearly 2,000 colleges and universities across North America and allows the company to further advance and improve the delivery of continuing education while engaging modern learners for life. Software Equity Group (SEG) served as the exclusive advisor to Augusoft.
With enrollment for traditional two- and four-year programs declining across most campuses, higher education institutions are investing in continuing, professional, and workforce education to fuel enrollment growth while delivering on their institutional mission to expand learning experiences, reach diverse populations, and create employment opportunities.
“Investing in Destiny Solutions, the creator of Destiny One, is how our relationship with Modern Campus began in 2018,” said Riverside Managing Partner Loren Schlachet. “We are incredibly dedicated to serving lifelong learners. That makes this news—two industry leaders coming together to serve non-traditional learners in a cohesive way—an exciting next chapter for Modern Campus and The Riverside Company.”
Modern Campus’s Destiny One product is the recognized leader in non-traditional student management, with a broad set of offerings that enable colleges and universities to thrive in continuing, online, and professional education. With Augusoft and its flagship Lumens product, Modern Campus now offers the most robust set of capabilities, including products, services, and partnerships to serve the complete needs of non-traditional learners.
Both Destiny One and Lumens are purpose-built to enable customers to efficiently manage and grow their non-traditional student programs, and deliver outstanding student service by enabling the functionality, administrative capabilities, and efficiencies colleges and universities desire.
“We fiercely believe that the future of higher education is lifelong learning, and at the core of Modern Campus is a belief that every human can be a lifelong learner,” said Brian Kibby, chief executive officer at Modern Campus. “With Augusoft alongside Destiny One, we’re furthering our mission to empower customers to engage modern learners for life. And at the same time, we’re creating a wider range of choices for higher education institutions to deliver on their lifelong learning missions.”
This transaction marks the fifth acquisition by Modern Campus in the past 12 months; the company acquired interactive campus map and virtual tour provider nuCloud in early 2021, followed by academic catalog and curriculum management provider DIGARC, and student engagement and development leader Presence. Earlier this month, Modern Campus announced its acquisition of leading higher education text-messaging provider Signal Vine.
“Augusoft and Modern Campus have long been the two most successful software providers serving the continuing education market. By joining forces, we can now offer a one-stop shop for all CE programs,” said Cem Erdem, Founder and CEO at Augusoft. “We’re thrilled to team with leaders like The Riverside Company and Modern Campus who share our belief in the importance of lifelong learning and how our education system needs to adapt to the changing needs of modern learners.”
“Investing in Destiny Solutions, the creator of Destiny One, is how our relationship with Modern Campus began in 2018,” said Stephen Rice, principal at The Riverside Company, the equity partner for Modern Campus. “Our dedication to serving lifelong learners is well-earned. That makes this news—two industry leaders coming together to serve non-traditional learners in a cohesive way—an exciting next chapter for Modern Campus and The Riverside Company.”
Augusoft employees will join Modern Campus, adding to a higher education powerhouse of exceptional industry talent. Brian Kibby will remain CEO of Modern Campus, and Cem Erdem will join the Modern Campus board of directors.