The entire Maveron team is excited to announce a new investment, completed September 23rd, in Altius Education (http://altiused.com/), a San Francisco company that helps non-profit universities launch for-profit online degree programs. Maveron continues to actively invest in promising, consumer-focused companies – and we chose to co-lead, with Spark Ventures, the $8 million Series A round in Altius because we recognized the company’s unique business model, strong management team, and forward-thinking vision. Altius helps universities create and launch online Associate, Bachelor and Master degree programs – helping colleges reach more students more cost effectively.

As college costs continue to soar, online degree programs are becoming increasingly popular. In the U.S., the online education sector grew 13% in 2008 and had been growing at about 20% in previous years, according to the Educational Policy Institute. Furthermore, according to the market research firm Aslanian Group, nearly 12% (2.1 million) of all students at degree-granting institutions in 2007 were enrolled solely in online programs, with enrollment in online higher education is projected to nearly double by 2013.

Since its inception in 2007, Altius has quickly emerged as an innovator [http://tinyurl.com/yhvcsbw] in designing and building high-quality online postsecondary education degree programs in areas that are underserved by incumbent institutions. The company’s CEO Paul Freedman is a successful serial entrepreneur, having earlier founded Academic Engine, a student recruitment technology company that he sold to Hobsons Inc, a subsidiary of the Daily Mail and General Trust (UK: DMGT). Maveron has significant experience helping foster leading education companies and was an early investor in online education leader Capella Education Company (NASDAQ: CPLA).