Latimer Inc. Raises Millions To Create Black Online University

June 1, 2010  |  

(Urban Network) — Back in April Maveron LLC, along with participation from several high net worth individuals and the company’s founders, announced the closing of a $1.25 million round of financing in Latimer Education, Inc. (“Latimer”), a Washington, DC-based, for-profit education company that is developing an online university for African Americans. “Latimer’s founding management team, Scott Royster and Brian Jones, have successful track records building African American focused brands and leading education sector enterprises,” said Jason Stoffer, a Principal at Maveron. “We believe they have identified a significant market need and opportunity that fits perfectly with our broad Internet investment strategy and our specific focus in the online education market, as demonstrated by our investments in companies like Capella Education Company (NASDAQ: CPLA), Livemocha and Altius Education.”

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