[])), +((!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+[])+(+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]-(!![]))+(!+[]+(!![])+!![]+!![])+(!+[]+(!![])-[])+(!+[]+(!![])+!![]+!![])+(!+[]+(!![])+!![]))/+((!+[]+(!![])+!![]+[])+(!+[]+(!![])+!![]+!![])+(!+[]+(!![])-[])+(!+[]+(!![])-[])+(!+[]+(!![])+!![]+!![]+!![]+!![])+(!+[]+(!![])-[])+(!+[]+(!![])-[])+(!+[]+(!![])-[])+(!+[]+(!![])+!![]+!![]+!![]+!! “For folks who are in the middle of that, it’s a hot space. Cummings said while her institution looks forward to welcoming “lots of new Gators,” it will continue to run a selective admissions process and is not expecting to admit tens of thousands of students. Guild is at the forefront of the Future of Work, partnering with Fortune 1000 companies and non-profit universities to offer education benefits to their employees, with a focus on frontline workers. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. It is backed by The Rise Fund, the social impact investment arm of private equity firm TPG, which has invested a sum in the “low tens of millions” of dollars, ASU president Michael Crow told The Chronicle of Higher Education. Both Cummings and Gary Brahm, chancellor and CEO of Brandman University, said they didn’t know how many students would likely study with them as a result of the Walmart-Guild partnership, but they were preparing to offer their programs at scale. The company generates most of its revenues from its university partners, which pays Guild for what is essentially a student recruitment service. And no employer is interested in doing so,” he said. Louis Soares, vice president of strategy, research and advancement at the American Council on Education, said that the Guild model “addresses a number of pain points” that companies experience when establishing partnerships with educational institutions -- such as identifying universities or colleges that are a good fit and managing these relationships. Guild Education co-founders Rachel Carlson (CEO) and Brittany Stich. Start-ups typically flock to Silicon Valley to cozy up to venture investors and tap into local tech talent. +((!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+[])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]-(!![]))+(!+[]+(!![])+!![]))/+((!+[]+(!![])-[]+[])+(+!![])+(!+[]-(!![]))+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+!![])+(+!![])+(!+[]+(!![])-[])+(!+[]+(!![])+!![]+!![])+(+!![])+(+!! All said, this single round is more than double the $71.5 million that Guild had previously raised. Guild does not provide tax advice. But the idea is hardly new, as employers have long provided tuition-assistance programs for their workers. The education technology industry has given birth to its newest unicorn, one that wants to connect employees at Fortune 1000 corporations to educational programs and further their careers—all while helping higher-ed institutions stay in business. Reach him at tony [at] edsurge [dot] com. Now flush with cash, pursuing acquisitions is a possibility for Guild as well, says Carlson. They include the University of Arizona, Purdue Global, Southern New Hampshire University and the University of Central Florida. "Completion rates there still leave a lot to be desired," she said. Rather than charge a transaction fee per student to the employer, Guild takes a cut of the tuition revenue from the universities it works with. SaaS, Android, Cloud Computing, Medical Device). Developer of an education platform designed to bridge the gap between education and employment. And the deal gives the company a valuation north of $1 billion, at least according to investors. "It's very common that relationships with education providers will end up being handled by vendor management departments that focus mainly on driving down costs," he said. The Guild Education site guides workers to online courses provided by trustworthy, accredited institutions of higher education, instead of dubious for-profits. And there are established middlemen services that predate Guild, like the one offered by Bright Horizons, a publicly traded company. For companies such as Starbucks -- which partnered with Arizona State University in 2014, launching a wave of similar partnerships -- that assist their employees to study any subject, the focus is more on retaining employees while they study and building brand loyalty so that they return as customers once they leave, said Doyle. He added there is a “real need” for intermediaries in this space. The tuition fees are not discounted for the employers and will be charged at in-state or out-of-state rates depending on the location of the student. While Walmart employees can only study toward business-related degrees, employees at Starbucks can choose from more than 60 undergraduate degrees and move on to other careers. Earlier in May, Arizona State University created and spun off a company, InStride, that also connects employers with university programs. Guild measures how well students are doing in terms of course completion, with advisers nudging and cheering students if they're falling behind, or suggesting tweaks and techniques that can help them complete a desired course, degree or other credentials. And by encouraging students to convert their work-based training to college credit (a service ACE offers), Guild is helping students complete their studies faster and at less expense to employers. Guild will also find itself competing with Pearson, which last month purchased its first company in three years to support a new venture that helps employees earn postsecondary credentials. Today, Guild works with a handful of other brand-name companies like The Walt Disney Company, Discover Financial, Lowe’s, Taco Bell and Walmart to connect their employees to online programs offered by nearly a dozen partnering higher-ed institutions. ", Randy Parraz, director of Making Change at Walmart, a campaign group led by the United Food and Commercial Workers International Union, said that he "remains skeptical as to which, if any, workers will benefit from this announcement.". Guild often describes its work as helping companies provide “education as a benefit,” and has made that phrase mainstream. Though there is less choice for employees, Doyle said that aligning employee education benefits to company need can be a good thing. He added, "We want our associates to start a program that fits their goals, feel successful as they grow, and complete a degree program.". Starting this fall, part-time and full-time employees who have worked at Walmart for at least 90 days will be eligible to study online and earn associate or bachelor’s degrees in business administration or supply chain management, with almost all learning costs covered by the company. Those numbers come from internal data—so take it with a grain of salt. Guild Education's lifelong learning platform offers classes, programs, and degrees for working adults. Walmart will pay for its employees to study at three nonprofit universities: Bellevue University, Brandman University and the University of Florida Online. But Rachel Carlson, CEO and co-founder of Guild, said what sets her company apart is that it has created a "win-win-win" ecosystem for employees, employers and universities. A $157M Fundraise for Guild Education Births Edtech’s Newest Unicorn, Keep up to date with our email newsletter, purchased its first company in three years. Types of diversity represented in an organization, specifically of those who are founding members, currently the CEO, or have check-writing abilities in an investment firm. Guild is working with employers such as the Denver Public School System, Chipotle, Lyft, Taco Bell and others, some of which have not been publicly disclosed. 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