Rhode Island tech company will expand their student journey platform as higher education institutions face increased pressure to drive operational efficiencies and workforce readiness for students.
WARWICK, R.I., June 14, 2022 -- CORE Higher Education Group, known for its leading solutions in student competency management, clinical education, and workforce readiness, announced today that it has received a significant growth investment from The Riverside Company, a global growth and private equity investment firm committed to helping mission-driven technology companies realize their full potential and accelerate market adoption. The investment positions CORE for accelerated growth and allows the company to continue building its suite of software applications to support students through the entire student journey.
Riverside's investment is a testament to CORE's product quality, growth, and customer retention. Today, CORE supports more than 375+ programs at over 175+ colleges and universities throughout the US and Canada in the areas of recruiting, experiential/clinical education, competency assessment, workforce readiness, and digital portfolios.
Gregory Cianfarani, CORE founder and CEO, said "I am excited about partnering with Riverside due to its focus on investing in high quality companies that deliver compelling benefits to customers. Riverside has an outstanding support structure and success rate with supporting software companies as they scale and accelerate growth. With this added financial backing, we will improve our products faster and build out the capabilities needed by our clients throughout the higher education market and beyond." Cianfarani and other members of the CORE management team will continue to be meaningful shareholders of the company and stay in their existing management roles.
"We are thrilled to be partnering with Greg and the rest of the CORE management team," said Riverside Senior Partner Joe Manning. "Riverside has been an active investor in the higher ed software industry over the last decade and we're excited to further that commitment with an investment in CORE. The CORE team has built a world-class software platform, team, and customer base that is well positioned for continued expansion."
In 2006, CORE started off by offering its clinical management software (ELMS) to health science programs, helping them improve their data management, security, and operational efficiencies within the experiential and clinical education components of the curriculum. Reacting to customer feedback, employer feedback, and accreditation needs, CORE has since expanded its offerings to include student recruiting (RECRUIT), student competency assessment and curricular mapping (CompMS), student workforce readiness (READINESS), student-employer relationship building (MyCred ePortfolios), and continuing education access (CESearchEngine.com).
Aside from the capital support to expand product development and customer support, the Riverside financing will be used to pursue complementary add-on acquisitions to broaden the product portfolio and expand solutions for CORE's customer base.
About CORE Higher Education Group
Headquartered in West Warwick, Rhode Island, CORE Higher Education Group is an education technology company providing colleges a suite of software applications to support the student journey... from recruiting... to clinical education... to workplace readiness. Founded in 2006, CORE's software applications have grown to support the recruiting, experiential education, competency assessment, workforce readiness, and digital portfolio needs of more than 375 programs at over 175+ colleges and universities throughout North America. For more information, visit: https://corehighered.com/
About The Riverside Company
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 750 investments. The firm's international private equity and structured capital portfolios include more than 120 companies.
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