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1) Austin-based Aceable raises $50M from HGGC
Aceable, an Austin-based startup that offers online driver’s education and other courses, has raised $50 million in a Series B round of funding.
The round was led by HGGC, a growth equity firm with offices in Palo Alto and Salt Lake City. Founded in 2011, Aceable has now raised a total of $77 million, according to Crunchbase.
Aceable’s app is designed to help users complete their driver’s education requirements and get their license. The company offers its courses in 35 states and has plans to expand to more.
In addition to driver’s ed, Aceable also offers other online courses, including real estate education, defensive driving, and workplace safety. The company says it has more than 1 million users.
Aceable CEO and co-founder Blake Garrett says the new funding will be used to expand the company’s course offerings and to grow its team.
“We’re very excited to partner with HGGC, a firm with a proven track record of working with high-growth companies,” Garrett said in a statement. “This funding will enable us to accelerate our product roadmap and continue investing in our team.”
HGGC partner and co-founder Richard Lawson says Aceable is “reinventing” the online education space.
“Aceable is one of the most innovative education technology companies we have seen, and we are thrilled to partner with Blake and his team to help them continue to reinvent how people access and engage in online education,” Lawson said in a statement.
2) What this means for the company
The news of Austin-based Aceable’s $50 million funding surge should come as no surprise to those who have been following the company’s incredible growth trajectory.
Founded in 2012, Aceable is one of the fastest-growing education technology companies in the country. The company’s flagship product is a driver’s education course that is completely online and can be taken on any device.
The company has seen incredible success with its product, and its courses are now required by state governments across the country.
With its latest round of funding, Aceable is now valued at $250 million. This is an incredible achievement for a company that is just five years old.
So what does this funding surge mean for Aceable?
First and foremost, it means that the company is in a strong position to continue its rapid growth. With its new valuation, Aceable is now one of the most valuable education technology companies in the world.
This funding will also allow the company to invest in new product development and expansion into new markets.
We can expect to see Aceable continue to innovate and disrupt the education industry in the years to come.
3) How this will impact their customers
In May of this year, Austin-based Aceable raised $50M in a Series B round led by HGGC. This surge in funding will allow the company to continue to invest in their product and scale their business. But how will this impact their customers?
Aceable is a mobile-first education company that offers educational content and courses for a variety of topics and industries. Their customers are primarily individuals who are looking to learn new skills or get certified in a particular area.
The company has plans to use the new funding to invest in their product and scale their business. This will likely have a positive impact on their austinbased aceable 50m hggcwanedsurge customers as they will have access to more resources and better quality content. Additionally, the company will be able to hire more staff to support their growing customer base.
Overall, the new funding from HGGC will be a positive for Aceable and their customers. The company will be able to invest in their product and scale their business, which will result in more resources and better quality content for their customers.
4) What Aceable plans to do with the money
Aceable, an online driver’s ed and austinbased aceable 50m hggcwanedsurge defensive driving course provider, has raised $50 million in a Series B funding round. The round was led by HGGC, with participation from existing investors Surge Ventures, Next Coast Ventures, and Capital Factory.
With the new funding, Aceable plans to expand its product offerings beyond driver’s ed and defensive driving courses. The company will now offer a suite of online courses for different age groups and stages of life. Aceable plans to use the new funding to hire more engineers and product managers to support this expansion.
Aceable was founded in 2012 by Blake Garrett and Alex O’Rourke. The company has raised a total of $81 million to date.