Edtech Startup MissionU Closes $8.5 Million

MissionU announced the close of $8.5 million in Series A financing. FirstMark Capital led the round, with participation from First Round Capital, University Ventures, Box Group, Rethink Education, Investor, Omidyar Network, and Learn Capital.

MissionU is a college alternative that seeks to give students the skills and experience needed to succeed in today’s competitive working world, while allowing them to graduate debt-free with no upfront tuition. By employing an income-share agreement model, MissionU only requires students to pay once they are earning $50,000 or more, during which they agree to pay 15 percent of their income for three years back to the company. MissionU’s first provided major is Data Analytics and Business Intelligence, which covers the process of collecting, analyzing, and telling stories with data to give businesses insight into the past to help them make better decisions in the future.

In its announcement, the company said capital from the round will be used to ramp up growth and expand to new cities in the coming year.