Orbis Education Services, Inc. secures $4 Million Financing

Periculum Capital Company, LLC (“Periculum”) is pleased to announce that its portfolio company, Orbis Education Services, Inc. (“Orbis”) secured $4 Million in an 8% Convertible Subordinated Note financing led by Lightspeed Venture Partners of Menlo Park, California. The funding will allow Orbis to expand its hybrid online nursing education programs, which will ultimately help alleviate the nation’s wide-spread nursing shortage.

Led by an experienced team of education and healthcare veterans, Orbis works with colleges and universities to develop online nursing programs, recruit new qualified students, and manage delivery of these programs. Orbis’s current partners include Marian University, Sharp Healthcare, St.Vincent Health, Northeastern University, Roseman University and St. Rose Dominican.

Blending technology and traditional methods, Orbis powers the collaborations that accelerate nursing program enrollments. Leveraging Orbis’s Full Circle Solutions, a hospital becomes a virtual extension of a major university. Theory courses are taught by university nursing faculty via interactive online classes that include threaded discussions, real-time webcasts, projects, assignments, and proctored examinations. Students have the flexibility of completing the online courses during day or evening hours and hands-on clinical preparation is taught by appointed university faculty assigned to work directly with students at partner healthcare locations.

Periculum worked directly with Orbis prior to the Company’s inception to review and validate the market opportunity, help set business and financing strategy, attract senior management, as well as provide capital. Periculum led two rounds of financing, sourcing $5.5 Million of both debt and equity to facilitate the Company’s start-up and initial expansion. Subsequently, Lightspeed invested $8 Million Series B Preferred Equity. With this 8% Convertible Subordinated Note financing, Lightspeed invested $2.5 Million and other prior individual investors invested another $1.5 Million. Lightspeed’s involvement continues to provide the Company a value-added investment partner to assist Orbis with its growth trajectory.

 

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