Tade Oyerinde, a Nigerian-born tech entrepreneur, has raised $46 million in Series B funding for his for-profit community college startup, Campus, as part of efforts to make higher education more accessible and affordable in the United States. The investment, announced on March 20 and led by venture capital firm General Catalyst, brings the company’s total funding to over $100 million.
Campus, founded in 2022, offers live, online courses leading to associate degrees and certifications in fields such as business administration, medical assisting, technical support, and applied artificial intelligence. The institution provides an alternative to traditional colleges, with tuition set at $7,200 per year—fully covered by Pell Grants for eligible students—compared to the $11,000 to $43,000 annual cost of conventional higher education.
The startup is responding to a growing demand for workforce-ready skills, particularly in AI-related fields, where job opportunities have surged by over 70% in the past five years. Observer reports that Campus’ applied AI program aligns with these industry trends, equipping students with practical knowledge in a rapidly evolving job market.
The U.S. higher education system is facing financial strain, with student loan debt reaching nearly $1.8 trillion. Oyerinde’s venture aims to ease this burden by offering a lower-cost alternative while maintaining academic rigor. Ken Chenault, chairman of General Catalyst, described Campus as an institution that blends the traditional strengths of American higher education with modern technology and innovation to prepare students for a competitive global economy.
Campus is also providing new opportunities for educators. The startup employs over 100 professors, many of whom also teach at prestigious institutions like Princeton, Stanford, and Howard University. Graduates have gone on to four-year universities, including New York University, Penn State, and the University of California, San Diego, while others have entered the workforce immediately after completing their programs.
Oyerinde, who has been vocal about the need for a more sustainable education model, emphasized that elite education should not be limited to a select few. “In America, we should have elite education for everyone—everyone should be able to learn from the top professors in the country, develop useful skills, and then go on to use those skills to create a great life for themselves,” he said.
With this latest funding, Campus is set to expand its reach, offering more students an affordable pathway to higher education and employment.
