Agreement will expand 2U’s ability to deliver degree programs across a broader spectrum of disciplines and sizes
CHICAGO and LANHAM, Md., Feb. 6, 2019 /PRNewswire/ — 2U, Inc. (Nasdaq: TWOU), a global leader in education technology, today announced a strategic partnership with Keypath Education that will allow 2U to expand the scope of services it offers to university partners by supporting smaller or lower-tuition degree programs than those it typically supports. Keypath is a preferred partner to universities in North America and the UK, and is a leader in Australia’s fast-growing online higher education market. The agreement with Keypath reinforces 2U’s industry-leading position and will strengthen its ability to meet expanding market opportunities. According to the 2019 Survey of College and University Chief Academic Officers, published by Inside Higher Ed in conjunction with Gallup, 83 percent of provosts say they will increase their emphasis on expanding online programs and offerings.
“2U’s new-program pipeline remains strong among both prospective and existing university partners, and joining forces with Keypath will only enhance our ability to serve these partners across an expanded spectrum of program offerings and sizes,” 2U Co-Founder and CEO Christopher “Chip” Paucek said. “Delivering quality outcomes has always been a hallmark of 2U- and Keypath-powered programs. Together, we will bring that unmatched track record of success to an even larger universe of programs and students.”
“Keypath’s mission is ‘to give global access to online education,’ and our new alliance with 2U will allow us to extend that important work. We’re excited to expand our world-class technology, personalized support, and commitment to great student outcomes alongside 2U and its unmatched portfolio of university partners,” Keypath CEO Steve Fireng said.
Keypath currently works with more than 23 universities to deliver quality programs. The alliance between 2U and Keypath will expand 2U’s addressable market of quality degree offerings beyond its current focus primarily on larger-scale programs. The 2U-Keypath deal will also allow 2U to accelerate its plans to roll out multiple university-level Institutional Suite deals with new and current partners.
Students in Keypath programs under this strategic partnership will be eligible for both the free WeWork Global Access Membership and LinkedIn Premium subscription benefits recently announced by 2U.
In addition to the strategic partnership, 2U also previously agreed to acquire a minority ownership stake in the parent company of Keypath Education. Financial terms of the agreement were not disclosed.
About 2U, Inc. (Nasdaq: TWOU)
Eliminating the back row in higher education is more than just a metaphor, it’s our mission. For more than a decade, 2U, Inc., a global leader in education technology, has been improving lives by powering world-class digital education. As a trusted partner and brand steward of great universities, we build, deliver, and support online graduate programs and certificates for working adults. Our industry-leading short courses, offered by GetSmarter, are designed to equip lifelong learners with in-demand career skills. To learn more, visit 2U.com. #NoBackRow
About Keypath Education
Keypath Education is a leading global provider of online program management (OPM) services for top-tier universities around the world. Keypath has the ability and expertise to support its university partners through the entire process of selecting, developing, launching and operating successful and sustainable online programs. Keypath acts as an extension of the university’s team, keeping the university’s brand and academic rigor intact, while accelerating the growth and quality of the university program portfolio. Services provided by Keypath include market research, capital investment, program development, marketing, student recruitment, student retention and course design & development. Keypath Education has offices and university partners in the United States, Australia, Canada and the United Kingdom. For more information, visit us at https://keypathedu.com.
View the release here.