- The investment positions CORE for accelerated growth that will help build its suite of software applications
- Management team will continue in their current roles
- Riverside financing will be used to pursue complementary add-on acquisitions to broaden the product portfolio and expand CORE’s customer base
Lower middle-market PE firm The Riverside Company is investing in CORE Higher Education Group, a West Warwick, Rhode Island, company focusing on student competency management, clinical education, and workforce readiness.
CORE supports more than 375+ programs at over 175+ colleges and universities throughout the US and Canada. It started off by offering its clinical management software (ELMS) to health science programs in 2006 where it helped improve data management, security, and operational efficiencies within the experiential and clinical education components of the curriculum, among a vast suite of other services.
CORE founder and chief executive Gregory Cianfarani described the transaction as “outstanding” to help unlock the company’s full potential. “With this added financial backing, we will improve our products faster and build out the capabilities needed by our clients throughout the higher education market and beyond.”
“Riverside has been an active investor in the higher ed software industry over the last decade and we’re excited to further that commitment with an investment in CORE,” said Riverside senior partner Joe Manning. “The CORE team has built a world-class software platform, team, and customer base that is well positioned for continued expansion.”