Edtech startup Aceable raises $47M

Edtech startup Aceable best known for the app that helps people earn their driver’s license has announced it raised $47 million in Series B.

The round, which was led by Sageview Capital, brings the company’s total known funding up to $55.7 million.

The Austin-based startup has focused on drivers education and defensive driving courses facilitated through an online website and mobile. The driver’s ed portion is an online course which qualifies as the classroom portion of driver’s education for the states that the company is operating in (that includes Texas, California, and others).

Aceable’s online courses “save users time and money over traditional brick and mortar offerings,” according to the announcement. It started offering drivers ed programs in Georgia in October,increasing the number of states where it’s operating to nine.

The money will be used for hiring and expanding into new nationwide markets, as well as to develop educational products for new industries.

Aceable now employs more than 100 people and said it has reached more than 550,000 students.

Past investors in Aceable include Silverton Partners and Floodgate Fund LP. The startup was founded in 2012 and raised a $4 million series A round in 2016.

 

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