Leif Arranges $20 Million In Financing Agreements To Expand
NEW YORK, May 14, 2020 /PRNewswire/ -- Leif, the market's provider of a full-service Income Share Agreement Management Platform, recently announced growth financing agreements with Pathrise, a Y Combinator-backed career accelerator, and The Tech Academy, a leading online coding boot camp for software developers. The capital provided through these financing agreements will allow these partners to increase enrollment and help individuals achieve their professional potential by providing an outcomes-aligned form of education finance.
"The demand to make education accessible for all is greater now than ever. We are proud to partner with Pathrise and The Tech Academy as they aim to increase enrollment and provide individuals with skills and opportunities to further their careers amidst this uncertain environment. We are excited to expand our platform by partnering with entities that continue to generate positive outcomes for individuals," commented Leif Founder and CEO Jeffrey Groeber.
Pathrise, founded in 2017 and based in San Francisco, is a career accelerator that delivers personalized training and mentorship to young professionals. With a placement rate of 98%, Pathrise recently surpassed $50M in total annualized salary for placed Fellows.
"Offering Income Share Agreements to our Fellows and leveraging Leif's full-service platform has spurred growth at Pathrise. Leif's combination of best-in-class technology and financing solutions showcase their market leadership," said Kevin Wu, Pathrise CEO. "We are excited to deepen the partnership as we continue to work together to uplift undervalued young professionals early in their careers."
The Tech Academy is a computer programming and web development school established in 2014 and headquartered in Portland, Oregon. The Tech Academy delivers both in-person and online coding boot camps designed for graduates who are well-rounded, entry-level software developers.
"The Tech Academy stands as one of the most successful coding schools in the country, with hundreds of graduates now working in technical positions across the world and hundreds more looking to enter. As this field continues to rapidly evolve, we recognized the importance of partnering with Leif and their Income Share Agreement Platform to ensure all prospective students have access to alternative financing solutions to further their careers," said Co-Founders Jack Stanley and Erik Gross.
As the Leif platform continues to grow and expand, the company has partnered with over 150 institutions to offer more than 12,000 students an incentive-aligned form of education finance. Leif partners with institutions that focus on the success of their students first to create the best outcomes for these individuals.
On average, Leif partnered schools have seen increases of 86% in qualified applications. Leif's platform provides schools with an all-in-one ISA solution that offers custom-designed programs, implementation and launch support, regulatory consulting, income verification and payment management, and scalable growth financing solutions.
Leif is a technology company dedicated to increasing access to quality and affordable education. The company has developed an end-to-end platform that enables the design, origination, program management, and financing of Income Share Agreement programs. As the infrastructure layer that powers the Income Share Agreement ecosystem, Leif partners with schools and mission-aligned financing partners to provide students with an outcomes-aligned form of education finance. Learn more at leif.org.