Risepoint
| Formerly | Academic Partnerships |
|---|---|
| Founded | 2007[1] |
| Founder | Randy Best[1] |
Area served | Global |
Key people | |
| Services | |
Number of employees | 1,500[3] |
| Website | risepoint |
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.[4][1] Michael Feldstein of EdSurge has said that because of its early start as an OPM, Risepoint has been considered "a pioneer" in the business.[5] APs clients, which are mostly regional public universities, are lower in price than elite colleges, but face significant financial and enrollment challenges.[6] According the company, it has served 380,000 students and converted more than 4000 campus-based classes to online courses.[7]
On May 1, 2024, Academic Partnerships rebranded as Risepoint. Its CEO is Fernando Bleichmar.[8]
History
[edit]In 2007, Academic Partnerships (AP) was established as Higher Ed Holdings.[1] 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.[4] An article in Forbes characterized the company's efforts as "using the Web to turn struggling midlevel U.S. universities into global education brands."[1]
In 2011, former Florida Governor Jeb Bush was hired as an adviser to Higher Ed Holdings. Bush was also an investor.[9] Bush was able to broker an education deal for AP with Florida International University[10]
In 2013, Clayton Christensen, a Harvard Business School professor and creator of the theory of disruptive innovation became a senior advisor to Academic Partnerships.[11]
In March 2014, the firm paid Hillary Clinton $225,000 to deliver a speech.[12][13] In December of that same year, Jeb Bush resigned from his position at AP in preparation for his bid for a 2016 presidential run.[12]
In 2014, AP was characterized as a "profit machine" that could reduce the cost of educating an undergraduate by about 85 percent.[1] By 2015, AP had annual sales of $100 million and contracts with 40 U.S. colleges and universities.[14] AP was previously owned by Insight Partners, a venture capital and private equity firm.[15]
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.[16]
In 2019, Vistria Group, a Chicago-based equity firm, acquired Academic Partnerships for the Vistria II fund.[17] 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.[18]
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."[19]
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.[20]
In 2023, Academic Partnerships acquired Wiley University Services for $150 million. The acquisition closed in January 2024 and expanded the combined company's university partner network to more than 125 institutions.[21]
Reception
[edit]Companies such as Risepoint have received criticism over concerns of privatization.[22]
Concerns have been raised that Academic Partnerships and other online program managers work with limited oversight,[23] and that the compensation structures of OPMs incentivize maximizing recruitment, being paid for each student recruited.[24] It has been noted, including by Elizabeth Warren and Sherrod Brown, that these practices resemble those that are illegal for college admissions departments to engage in.[25]
Supporters of revenue sharing online program management agreements argue that they enable universities to launch online degree programs without significant upfront capital expenditures.[26]
See also
[edit]References
[edit]- 1 2 3 4 5 6 Howard, Caroline. "No College Left Behind: Randy Best's Money-Making Mission To Save Higher Education". Forbes. Retrieved 12 July 2021.
- ↑ "Academic Partnerships to Rebrand as Risepoint: A message from CEO Fernando Bleichmar". Academic Partnerships. May 1, 2024.
- ↑ "Impact Report 2024" (PDF). Risepoint.
We have over 1,500 mission-driven teammates located across the US, Canada, the UK, and Australia, supporting partners and their students in 40 states and 5 countries.
- 1 2 Michels, Patrick (29 August 2012). "Randy Best Is Going to Save Texas' Public Universities, Or Get Rich Trying". Texas Observer. Retrieved 18 October 2015.
- ↑ Feldstein, Michael (21 February 2019). "The 'O' in 'OPM' Could Stand for 'Outsourcing'". www.edsurge.com. Ed Surge. Retrieved 12 July 2021.
- ↑ "Academic Partnerships: 2020-2021 Impact Report" (PDF). www.academicpartnerships.com. Academic Partnerships. Retrieved 20 November 2021.
- ↑ "Academic Partnerships". academicpartnerships.com. Academic Partnerships. Retrieved 12 July 2021.
- ↑ "Academic Partnerships to Rebrand as Risepoint: A message from CEO Fernando Bleichmar". Academic Partnerships. May 1, 2024.
- ↑ Hamburger, Tom (31 December 2014). "With eye on 2016, Jeb Bush resigns from all boards". Washington Post. Retrieved 18 October 2015.
- ↑ 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.
- ↑ "Dr. Clayton Christensen Joins Academic Partnerships as Senior Advisor". www.prnewswire.com (Press release). PR Newswire. Retrieved 12 July 2021.
- 1 2 Fang, Lee (18 May 2015). "HILLARY CLINTON PAID BY JEB BUSH'S EDUCATION COMPANY". theintercept.com. The Intercept. Retrieved 12 July 2021.
- ↑ Vasquez, Michael; Mazzei, Paricia. "Higher-Ed Hustle: For-profit colleges cast shadow over presidential race". www.miamiherald.com. Miami Herald. Retrieved 12 July 2021.
- ↑ 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.
- ↑ "Insight Partners". www.insightpartners.com. Insight Partners. Retrieved 6 August 2021.
- ↑ "Dan Branch Joins Academic Partnerships' Board of Directors". www.prnewswire.com (Press release). PR Newswire. Retrieved 12 July 2021.
- ↑ "20200231: Vistria Fund II, LP; Academic Partnerships, LLC". www.ftc.gov. Federal Trade Commission. 27 November 2019. Retrieved 18 August 2021.
- ↑ "Our Portfolio". www.vistria.com. Vistria. Retrieved 20 November 2021.
- ↑ 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.
- ↑ Schwartz, Natalie. "Democratic congressional inquiry targets OPMs". /www.highereddive.com. Industry Dive. Retrieved 12 July 2021.
- ↑ Coffey, Lauren. "Merger of Online Program Companies Suggests 'Reset' in the Market". www.insidehighered.com. Inside Higher Education. Retrieved 16 December 2023.
- ↑ Smith, Doug (27 July 2011). "Is it Arkansas State or is it Academic Partnerships LLC?". /arktimes.com. Arkansas Times. Retrieved 6 August 2021.
- ↑ 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.
- ↑ Philip, Lisa Kurian (2025-10-10). "Students for profit? University of Illinois campuses pay company per online student". Chicago Sun-Times. Retrieved 2026-03-23.
- ↑ "Senators Warren and Brown Examine Questionable Business Practices of Largest Managers of Online Degree Programs | U.S. Senator Elizabeth Warren of Massachusetts". www.warren.senate.gov. Retrieved 2026-03-23.
- ↑ Coffey, Lauren. "Future of OPMs in Flux as Regulations Loom". insidehighered.com.