PSG invests in edtech firms Verity IQ and Campus Ivy to enhance student lifecycle and financial aid solutions
Growth equity firm PSG has announced its latest investments in education technology companies Verity IQ and Campus Ivy.
These investments aim to enhance the companies' products and services, which educational institutions use to improve operational efficiency and student experience. The specific financial details of the deals have not been disclosed.
Verity IQ, which offers customer relationship management (CRM) and student information system (SIS) solutions, supports educational institutions in managing student interactions and data throughout the student lifecycle.
Its software, including the Verity Dialog CRM and Verity Student SIS, enables schools to handle student recruitment, communications, attendance tracking, and financial record management tasks. The SIS also incorporates features such as digital payment processing and tracking student progress towards graduation.
Campus Ivy specialises in financial aid management for schools, offering cloud-based software that simplifies the process for both students and administrators. The company's platform provides students with easy access to financial aid information, while institutions benefit from automated processing, compliance management, and other support services.
In addition to software, Campus Ivy offers outsourcing services to assist schools with processing tasks and regulatory requirements and professional services to help navigate the complexities of financial aid compliance.
Commenting on the investment, Marco Ferrari, Managing Director at PSG, explained why the firm chose to invest in these particular companies:
“PSG has a deep conviction in the potential for innovative technologies to transform education, and we have been actively investing in edtech for many years. We’ve closely monitored the increasing demand for trade and vocational schools, as well as community colleges, driven by the shortage of skilled vocational workers and the rising costs of higher education, among other tailwinds.
“In our view, Verity IQ and Campus Ivy have distinguished themselves as leading providers of crucial solutions that support the entire student lifecycle, evidenced by the many institutions that choose to work with both providers.”
Verity IQ was founded by Cornelia Anderson and Aaron Anderson, both of whom have experience in the education sector. The company was established to address inefficiencies in the way educational institutions manage their student data and communications. The founders discussed the origins of Verity IQ and the reasons for its focus:
“We started this company as a direct result of our experience with the challenges caused by school departments operating with outdated and incompatible products and services and have seen first-hand the impact this has on the student experience. We built Verity IQ to provide essential systems to address notable pain points – decentralised data, lack of visibility across departmental performance, lack of automation, and inefficiencies in school operations.
“We believe that PSG’s expertise investing in the education technology market and shared commitment to solving for these inefficiencies stood out from the beginning. We value their know-how and shared enthusiasm for what we are building.”
Campus Ivy, co-founded by Cid Yousefi and Siana Stewart, focuses on automating financial aid processes for schools across the United States. Yousefi and Stewart, said:
“PSG’s track record investing in education technology and their excitement about the future of our industry make them a strong partner to accelerate our vision. We’re excited for what’s ahead as we bolster our existing products that have been helping to transform school operations and financial outcomes nationwide.”
