Modern Campus, a portfolio company of The Riverside Company, has added-on with the buy of DIGARC.
DIGARC (formerly Digital Architecture) is a provider of academic catalog and curriculum management, class and student scheduling and student pathfinder software. The company’s services are currently used by nearly 800 higher learning institutions. The Lakeland, Florida-based company was founded in 2001 by Ken Blase.
Toronto, Ontario-based Modern Campus’ software is used by educational institutions to manage continuing education and non-degree programs.
In May 2018, Riverside acquired Destiny Solutions, a Toronto-headquartered provider of student lifecycle management software and in October 2019, merged the company with OmniUpdate, a California-based provider of web content management systems to educational institutions. In March 2021, Riverside rebranded the combined businesses as Modern Campus and acquired nuCloud, a provider of interactive campus maps and virtual tours.
“Joining DIGARC with Modern Campus is an exciting next step for the platform’s growth trajectory,” said Loren Schlachet, a managing partner at Riverside. “The combined platform will offer a suite of products that supports the learner-to-earner student lifecycle by helping higher education institutions attract, enroll and engage prospective and current student populations.”
“Modern Campus will integrate its award-winning web experience platform and personalization engine with DIGARC’s comprehensive course curriculum management software and together, they will empower higher education institutions to solve two of the biggest challenges they face today: attracting and converting prospective students and creating a highly personalized and engaging pathway to on-time graduation,” said Joe Manning, a senior partner at Riverside. “We plan to continue developing exciting new products organically as well as executing strategic add-ons that support the learner-to-earner student lifecycle.”
New York City-headquartered The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 650 transactions and its portfolio includes more than 110 companies.
© 2021 Private Equity Professional | June 24, 2021
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