DENVER, February 2, 2023 (Newswire.com) - Pathify, a leading provider of student portals for colleges and universities, today announced it has recently received funding from Brex Asset Management. This new capital will help Pathify expand its student portal offering throughout the United States and beyond. The funding from Brex Asset Management came in tandem with further investment from Pathify's existing shareholders.
The Pathify Engagement Hub fills the void at the center of the higher education digital ecosystem, creating a centralized user experience unifying all things digital. Pathify has achieved a greater than 100% compound annual growth rate on recurring revenue over the past four years, as the Engagement Hub gains traction at institutions across the country.
"We're thrilled to partner with Chase, James, and the team at Pathify that has reimagined the student experience and modernized the university tech stack," said Benjamin Wu, CEO of Brex Asset Management. "Pathify is a great addition to our portfolio. They provide a mission-critical service to an underserved market with a capital-efficient business model. Our mission is to support our customers at every stage of growth, and we are excited to support Pathify through this next phase."
This deal marks continued momentum for Brex Asset Management and its affiliated fund, which U.S. fintech company Brex launched as a way to provide companies with growth capital and help founders take their business to the next level. Brex Asset Management selectively provides capital to scaleable, high-growth startups with strong recurring revenue in expanding sectors.
"We're excited to partner with the team at Brex to further strengthen Pathify's Balance Sheet, particularly in the current tech environment," said Pathify Chief Financial Officer and co-founder James McCubbin. "Brex met all the key criteria we were looking for in a financial partner and we look forward to our ongoing relationship with them."
The Brex funding will help Pathify continue to scale its product suite and deepen integrations with strategic partners, all while maintaining its industry-best customer success and support.
"We experienced rapid growth last year and this capital allows us to continue our expansion plans this year and beyond," said Pathify Chief Executive Officer and co-founder Chase Williams.
About Brex Asset Management
Brex Asset Management ("BAM"), Brex's asset manager focusing on supporting companies with venture debt and growth capital, leverages Brex's reach within the venture fund-backed startup industry and offers alternative investment opportunities to investors around the world — including institutional investors, endowments and foundations, financial institutions, and private wealth investors. BAM is a wholly owned subsidiary of Brex Inc.
Brex empowers the next generation of businesses with an integrated corporate card and spend management software. We make it easy for our customers to manage every aspect of spending and empower their employees to make better financial decisions from anywhere they live or work. Brex proudly serves tens of thousands of growing businesses, from early-stage startups to enterprise leaders. Learn more.
Obsessed with making great technology while developing incredible long-term relationships with customers, Pathify remains hyper-focused on creating stellar experiences across the entire student lifecycle — from prospects to alumni. Delivering cloud-based, integration-friendly technology designed to drive engagement, Pathify pushes personalized information, content, and resources to the right people, at the right time — on any device. Led by a team of former higher ed executives, builders, and technology leaders, the team at Pathify focuses every day on serving the needs of learners everywhere. Learn more at pathify.com.