NexPhase-backed Aztec Software buys financial literacy platform iGrad

iGrad serves more than 1.2 million students across 500 schools and organizations nationwide today, including Arizona State University, Columbia University, NYU and the University of Kentucky.

  • iGrad was founded in 2009
  • NexPhase Capital invests in lower middle market growth-oriented companies within three distinct sectors: consumer, healthcare, and software
  • The firm has completed over 90 investments, including add-ons, and targets control equity investments between $25 million and $150 million

NexPhase Capital portfolio company Aztec Software, a provider of educational software, has acquired San Diego-based iGrad, a web-based financial literacy platform. No financial terms were disclosed.

iGrad serves more than 1.2 million students across 500 schools and organizations nationwide today, including Arizona State University, Columbia University, NYU and the University of Kentucky

iGrad was founded in 2009

“We are excited to work with the talented, passionate team at iGrad, who share in our mission to make generational changes in the lives of adults, and to equip our clients with an understanding of how to keep and maintain wealth,” said Jonathan Blitt, CEO of Aztec Software, in a statement. “This acquisition elevates our product ecosystem to include financial wellness initiatives, providing our clients the ability to understand debt instruments, assess liabilities and build plans to temper stress levels. Now is an ideal time to add these capabilities as our clients confront inflationary pressures and a changing macroenvironment in the U.S. We are also grateful for the continued support of the NexPhase team, who echo our belief that access to viable resources for individual betterment can have a major positive impact for generations to come.”

Aztec Software was launched in 1980.

NexPhase Capital invests in lower middle market growth-oriented companies within three distinct sectors: consumer, healthcare, and software. The firm has completed over 90 investments, including add-ons, and targets control equity investments between $25 million and $150 million.