ConnectEDU is looking to make the most of deals agreed recently with relevant parties in Texas and has ear-marked its Austin office as the base for its forth-coming operations across the southern United States.
The basic idea behind the company’s business is to offer a way for parents, pupils and educators to identify college courses and career paths that are both viable and desirable for the individuals involved. A number of significant implementation agreements were reached in various parts of the US by the company towards the end of last year.
Craig Powell, ConnectEDU’s chief executive, said: “We are thrilled to open an office in the Lone Star State. As a company, we’re poised for continued growth, with a pool of exceptional talent to choose from in Austin.”
“We’re committed to providing schools with comprehensive online products to help students, parents, counsellors, teachers, and administrators manage the high school-to-college-to-career planning process,” added Chris Sharman, the newly-appointed director of ConnectEDU’s operation in Texas.
Back in November of last year, the renewable energy giant SunPower revealed its plan to open a new area of office space in Austin, with around 450 jobs set to be created in the process.
Taking the American office space market as a whole, the past few years have been difficult for both owners and occupiers but Cushman & Wakefield recently reported the first full-year positive absorption figures nationwide since 2007.
Editor’s notes: In May 2014, VC firm New Markets Venture Partners acquired the assets of ConnectEDU for $1 million after it filed for bankruptcy.
Craig Powell acted as a strategic partner for the VC firm and, as of May 2023, remains partnered with New Markets Venture Partners.
In 2023, in the firm’s Impact Report, it was highlighted that, to date, its portfolio of companies had served more than 72 million American students and job seekers. And that 63 million post-secondary credentials had been issued verifying evidence of skills and achievement thereby increasing salaries by 57% on average for those achieving.
In March 2023, it was revealed in Forbes that the VC firm had realised $3.3 billion in value for its investors since it launched.