NATIONAL CITY, California — A company that helps families pay for education says the $500 million it has spent on education technology has paid off for it.
Tecumseh Software Inc., which helps millions of students in schools and colleges around the country pay for their education, has seen its revenue increase by $30 million since it launched its software in 2009, company spokeswoman Amy Smith said.
It also has seen a 12 percent increase in students using its software, she said.TECHNOLOGY: The latest tech news, trends and insights.
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The company, founded by entrepreneur and computer scientist Chris Lassner, was acquired by Microsoft Corp. in 2016.
The new owners are looking to expand its business beyond education, which has become a lucrative industry.
The company has invested $100 million in technology start-ups to help students pay for college.
Lassner said he’s excited to see the company’s software making a big impact on the education market, which he believes is poised to be worth $1 trillion by 2027.
He’s optimistic that his software, which was developed in partnership with the U.S. Department of Education and other partners, can help students afford college.
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