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Risepoint (formerly known as Academic Partnerships) is a major for-profit online program manager (OPM) owned by Vistria Group, a private equity firm. Established in 2007 by entrepreneur Randy Best, it claims to serve more than 55 colleges and universities, providing technology, marketing services, and student support services to mid-level brands.[1][2] Because of its early start as an OPM, it has been considered "a pioneer" in the business.[3] APs clients, which are mostly regional public universities, are lower in price than elite colleges, but face significant financial and enrollment challenges.[4] According the company, it has served 380,000 students and converted more than 4000 campus-based classes to online courses.[5]

On May 1, 2024, Academic Partnerships rebranded as Risepoint. Its CEO is Fernando Bleichmar.[6]

History

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In 2007, Academic Partnerships (AP) was created by entrepreneur Randy Best as Higher Ed Holdings.[2] In 2007, Education Holdings helped Lamar University establish online programs, and quickly expanded to other universities including the University of Texas system and Arkansas State University.[1] An article in Forbes characterized the company's efforts as "using the Web to turn struggling midlevel U.S. universities into global education brands."[2]

In 2011, Randy Best hired former Florida Governor Jeb Bush as an adviser to Higher Ed Holdings. Bush was also an investor.[7] Using his connections, Bush was able to broker an education deal for AP with Florida International University[8]

In 2013, Clayton Christensen, a Harvard Business School professor and creator of the theory of disruptive innovation became a senior advisor to Academic Partnerships.[9] Former executives at Academic Partnerships, Paxton Riter and Whitney Kilgore, helped found another OPM, iDesign.[3]

In March 2014, the firm paid Hillary Clinton $225,000 to deliver a speech.[10] In his June 2014 speech to the Association of Private Sector Colleges and Universities, Bush called President Barack Obama's gainful employment regulations, “a sledgehammer to the entire field of higher education.”[11] In December of that same year, Jeb Bush resigned from his position at AP in preparation for his bid for a 2016 presidential run.[10]

In 2014, AP was characterized as a "profit machine" that could reduce the cost of educating an undergraduate by about 85 percent.[2] By 2015, AP had annual sales of $100 million and contracts with 40 U.S. colleges and universities.[12]

At some point, AP was owned by Insight Partners, a venture capital and private equity firm.[13]

In 2017, the firm appointed Dan Branch, a former Texas House member and Chairman of the Texas House Committee on Higher Education to the board.[14]

In 2019, Vistria Group, a Chicago-based equity firm, acquired Academic Partnerships for the Vistria II fund.[15] Vistria has investments in a number of for-profit education assets, including Edmentum, Vanta Education, FullBloom Education, MSI Information Services, Apollo Education Group, and Unitek Learning.[16]

In 2020, University of Texas-Arlington President Vistasp Karbhari resigned after taking two international trips paid by Academic Partnerships. The school paid AP "more than $178 million over about a five-year period."[17]

In 2020, Academic Partnerships was one of five online program managers that Senators Elizabeth Warren and Sherrod Brown targeted for scrutiny. The senators said that online program managers were typically not transparent and that they were concerned that these OPMs might be violating rules meant to rein in for-profit colleges.[18]

In 2023, Academic Partnerships acquired Wiley University Services for $150 million.[19]

Business model

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Academic Partnerships operates as an online program manager (OPM) and receives an undisclosed portion of the revenues. It is not directly involved in instruction and it does not confer degrees. Instead, it provides its clients with marketing, mentoring, instructional design, technology, and other services.

The firm works with faculty and staff to design and deliver online programs; it uses digital, traditional and field sales channels to market and enroll students; and it provides outreach to assist students with the application process, communicate with students, refer students to university services, and provide outreach to inactive students.

One criticism of this model is that college and university staff see this as a form of privatization.[20]

Another criticism is that Academic Partnerships and other online program managers work in the shadows, with limited oversight and with little knowledge by faculty or students.[21]

University partners

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Data Raven

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Data Raven is a technology that uses algorithms and artificial intelligence to improve recruitment and retention.[23]

See also

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References

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  1. ^ a b Michels, Patrick (29 August 2012). "Randy Best Is Going to Save Texas' Public Universities, Or Get Rich Trying". Texas Observer. Retrieved 18 October 2015.
  2. ^ a b c d Howard, Caroline. "No College Left Behind: Randy Best's Money-Making Mission To Save Higher Education". Forbes. Retrieved 12 July 2021.
  3. ^ a b Feldstein, Michael (21 February 2019). "The 'O' in 'OPM' Could Stand for 'Outsourcing'". www.edsurge.com. Ed Surge. Retrieved 12 July 2021.
  4. ^ "Academic Partnerships: 2020-2021 Impact Report" (PDF). www.academicpartnerships.com. Academic Partnerships. Retrieved 20 November 2021.
  5. ^ "Academic Partnerships". academicpartnerships.com. Academic Partnerships. Retrieved 12 July 2021.
  6. ^ "Academic Partnerships to Rebrand as Risepoint: A message from CEO Fernando Bleichmar". Academic Partnerships. May 1, 2024.
  7. ^ Hamburger, Tom (31 December 2014). "With eye on 2016, Jeb Bush resigns from all boards". Washington Post. Retrieved 18 October 2015.
  8. ^ Perez, Andrew; Sirota, David; Cunningham-Cook, Matthew (13 August 2015). "Election 2016: Jeb Bush Leveraged Political Connections For Clients And Allies After Leaving Florida Governorship, Emails Show". www.ibtimes.com. International Business Times. Retrieved 12 July 2021.
  9. ^ "Dr. Clayton Christensen Joins Academic Partnerships as Senior Advisor". www.prnewswire.com (Press release). PR Newswire. Retrieved 12 July 2021.
  10. ^ a b Fang, Lee (18 May 2015). "HILLARY CLINTON PAID BY JEB BUSH'S EDUCATION COMPANY". theintercept.com. The Intercept. Retrieved 12 July 2021.
  11. ^ Vasquez, Michael; Mazzei, Paricia. "Higher-Ed Hustle: For-profit colleges cast shadow over presidential race". www.miamiherald.com. Miami Herald. Retrieved 12 July 2021.
  12. ^ Greenberg, Molly. "With His Mind on 2016, Jeb Bush Resigns From the Board of Academic Partnerships". www.bizjournals.com. Bizjournals.com. Retrieved 12 July 2021.
  13. ^ "Insight Partners". www.insightpartners.com. Insight Partners. Retrieved 6 August 2021.
  14. ^ "Dan Branch Joins Academic Partnerships' Board of Directors". www.prnewswire.com (Press release). PR Newswire. Retrieved 12 July 2021.
  15. ^ "20200231: Vistria Fund II, LP; Academic Partnerships, LLC". www.ftc.gov. Federal Trade Commission. 27 November 2019. Retrieved 18 August 2021.
  16. ^ "Our Portfolio". www.vistria.com. Vistria. Retrieved 20 November 2021.
  17. ^ Ayala, Eva-Marie (20 March 2020). "UTA president steps down after details of investigation into questionable dealings with a university vendor released". www.dallasnews.com. Dallas News. Retrieved 20 November 2021.
  18. ^ Schwartz, Natalie. "Democratic congressional inquiry targets OPMs". /www.highereddive.com. Industry Dive. Retrieved 12 July 2021.
  19. ^ Coffey, Lauren. "Merger of Online Program Companies Suggests 'Reset' in the Market". www.insidehighered.com. Inside Higher Education. Retrieved 16 December 2023.
  20. ^ Smith, Doug (27 July 2011). "Is it Arkansas State or is it Academic Partnerships LLC?". /arktimes.com. Arkansas Times. Retrieved 6 August 2021.
  21. ^ Hamilton, Laura T.; Daniels, Heather; Smith, Christian Michael; Eaton, Charlie (June 2022). "The Private Side of Public Universities: Third-party providers and platform capitalism". Berkeley Research.
  22. ^ University Employee
  23. ^ "Academic Partnerships Expands Services to Universities". markets.businessinsider.com. Business Insider. Retrieved 6 August 2021.
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