All News Press Release | July 22, 2022

Correctional EdTech Provider APDS Raises $7 Million in Series C, Seeking to Break the Cycle of Incarceration with Its Career Readiness Platform

Impact-driven ETS Strategic Capital & New Markets Venture Partners co-led financing round

NEW YORK, N.Y. — APDS, a public-benefit corporation whose advanced career readiness platform helps incarcerated individuals attain a living wage after release, today announced that it has raised $7 million in new funding during the Series C round. The capital will allow the company to further scale its innovative services across correctional facilities nationwide while enhancing its proprietary learning platform, content offerings and strategic partnerships.

“APDS is poised to transform the correctional system. The momentum is growing across the country to rethink our society’s approach to incarceration and preparation for reentry. Just last month, the Biden administration promised $145 million to develop ’reentry plans’ for incarcerated persons. APDS has been a leader in this process through our Whole Human Framework approach to education,” said Harris Ferrell, APDS CEO. “We use our proprietary curriculum, assessments and plans to equip these individuals for long-term success. We can only accomplish this mission with dedicated investors who are double-bottom line oriented. This fundraising round will contribute directly toward continuing to develop our product, supporting the momentum of sales, and connecting our learners with the resources and support they need to obtain living wage jobs.”

APDS currently serves learners in more than 110 correctional facilities across 17 states. The rapid adoption of APDS is in part due to their learner-first business model. The company is the only dedicated correctional edtech provider that delivers technology and services for free to incarcerated learners.

ETS Strategic Capital, a division of ETS focused on equity investments, growth partnerships and mergers and acquisitions, co-lead the Series C round. ETS is aligned with APDS in their shared goal of advancing educational opportunities for all learners. ETS Strategic Capital invested $2 million into the Series C round to help further the group’s goal of breaking the cycle of incarceration through education and advancing ETS’s integration as an assessment partner.

“Our investment and role support the creation of innovative, quality educational opportunities for incarcerated people,” said Ralph Taylor-Smith, ETS Strategic Capital Managing Director, and incoming APDS board member. “We are excited to bring the power of assessment to APDS to drive second-chance opportunities, create new pathways for those reentering society and to reduce recidivism. Expanding access to quality education for all people is the heart of our mission at ETS and we are proud to partner with APDS to advance this shared goal.”

New Markets Venture Partners, focused on innovative technology-enabled, mission-driven companies driving sustainable social impact, co-leads the investment round.

“We are very excited to support APDS as it scales an increasingly efficacious solution to dramatically improve outcomes for returning citizens. The management team is best in class and APDS is exactly the type of high impact and commercially successful investment New Markets strives to enable,” stated Mark Grovic, General Partner, New Markets Venture Partners.

The APDS Series C round also saw the return of investments from Converge Venture Partners,ECMC Group’s Education Impact Fund, Juvo Ventures, the Partnership Fund for New York City, Rethink Education, and Strada Education Network.

To date, APDS learners have a 20% increase in post incarceration employment. Students utilizing APDS have a 130% increase in high school equivalency (HSE) pass rates and are about 70% more likely to complete their post-release reentry plans than their peers, demonstrating a long-term reduction of recidivism through education.

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About ETS Strategic Capital

ETS Strategic Capital serves as the private equity investment and M&A execution arm for ETS, its subsidiaries and partners sourcing transactions within both the domestic United States and internationally. The division of ETS partners with the broader EdTech ecosystem to identify and execute deals, coordinate with other ETS business units to identify opportunities and needs, network with professional services firms with education expertise, and build direct relationships with businesses internationally — especially within Asia Pacific, Southeast Asia, Latin America and the Middle East & Africa (MENA) regions. ETS Strategic Capital targets private equity investments that are typically in Series B, C or later; acquisitions that are middle-market in scale; and growth partnerships that may involve joint ventures (JVs), channel-affiliate or distribution agreements, Intellectual Property (IP) licensing and technology-transfer relationships. www.ets.capital

About ETS

At ETS, we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational institutions and government agencies by providing customized solutions for teacher certification, English language learning, and elementary, secondary and postsecondary education, and by conducting education research, analysis and policy studies. Founded as a nonprofit in 1947, ETS develops, administers and scores more than 50 million tests annually — including the TOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series® assessments — in more than 180 countries, at over 9,000 locations worldwide. www.ets.org

About New Markets Venture Partners

New Markets Venture Partners is a leading impact investor that accelerates growth-stage education and workforce technology companies. The New Markets team has decades of experience supporting evidence-based, high growth companies that improve economic and social mobility by leveraging deep relationships with centers of education and workforce innovation. New Markets prides itself on adding value to its portfolio companies before, during, and after the investment process, with the ultimate goal of improving both individual outcomes and the productivity of America’s education workforce system. For more information, visit https://newmarketsvp.com/.

About APDS
APDS, a Certified B Corp, is the career readiness platform for all justice impacted individuals to attain a living wage job. APDS has proven success through its “Whole Human Framework” which is a proprietary curriculum delivering assessments and plans that motivate, engage, educate, and equip these individuals in their pursuit to empower themselves and strengthen society. APDS leverages innovative technology to create a managed learning environment that fosters growth and certifies career-readiness. apds.works

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Romicha Cooper is the Director of Talent for APDS. She is seasoned Human Resources Professional in both public and private sectors for nearly 20 years. Her approach to talent management is with trust and transparency. In 2020, Cooper authored a children’s book titled “Aunty’s House” inspired by her childhood and family.

Kimonti Carter is the former president and current Resource & Equity Director of the Black Prisoners’ Caucus Community Group. At 34, Kimonti founded T.E.A.C.H., a higher-education program that he designed with the Black Prisoners’ Caucus to bring college courses to Washington State prisoners. Kimonti is also featured in the award-winning documentary Since I Been Down and serves as an APDS educational consultant. He is a community advocate, educator, motivational speaker, and curriculum designer of Liberation Education, a course on the ADPS educational platform.

Ralph is the Founder and Managing Director of ETS Strategic Capital; he also serves as Chief Investment Officer (CIO) for the unit. With experience in engineering, applied-science, finance, and business management, he has led ten venture investments and serves on six Boards of Directors. Previously, he worked in investment banking at Goldman Sachs and JPMorgan, and in R&D at Bell Labs, Lucent Technologies, and AT&T. Ralph holds twelve patents in various technology fields and is a Kauffman Fellow, Robert Toigo Foundation Fellow, and PriceBabson SEE Fellow. He serves on non-profit boards, including Princeton University Engineering and the Lawrence Livermore National Lab (LLNL) of the NNSA, and works with the NSF on SBIR and STTR programs.

LaToya Newson is a trailblazer in the field of adult education, with a wealth of experience in corrections education programming. She spearheaded the creation of the Reentry, Employment, Adult Education Program (Project REAP) – a groundbreaking initiative aimed at curbing recidivism by providing education and training to justice-impacted individuals. This innovative program provides incarcerated individuals with the tools and resources they need to complete their high school equivalency exam, preparing them for success upon their release.

Born and raised in D.C, Chris grew up under extremely difficult circumstances. At the age of 17, he was charged with a crime, convicted, and sentenced to natural life in prison. While incarcerated, he earned his high school diploma, graduated from all of the vocational shops, earned an Associate Degree and started his Master Plan, a roadmap for his future. After serving 16 years in prison, Chris wrote and published The Master Plan: My Journey from Life in Prison to a Life of Purpose to inspire other justice-impacted individuals to achieve their fullest potential.

As CEO of APDS, Harris oversees all aspects of the company’s operations. His expertise, leadership, and vision have made him a respected figure in the education industry, and he continues to drive forward his mission of using EdTech to make a difference in the lives of justice-impacted individuals. Harris has a deep understanding of the unique challenges of EdTech in corrections, and he is passionate about leveraging technology to create innovative solutions that can help transform the lives of students and educators alike.

As Chief Revenue Officer of APDS, Mott ensures the successful delivery of evidence based programing to the states and jurisdictions serviced by APDS. In this role, Mott is instrumental in driving long-term change in recidivism and positive learner outcomes. She is a passionate advocate for free individualized programming for justice-impacted individuals.

A passionate advocate for social justice and education, Arti Finn co-founded APDS in 2013 with the ambitious goal of creating pathways to living-wage employment for individuals affected by the justice system. Under her visionary leadership, APDS has revolutionized the edtech landscape within the correctional environment, providing high-quality programming at no cost to justice-impacted individuals or their families in hundreds of facilities across 18 states.

 

As Chief Strategy Officer, Arti skillfully directs the company’s policy, government relations, marketing, and public relations efforts while also forging strategic partnerships to further advance the organization’s mission. Her keen focus is on helping correctional systems reimagine the potential of technology to deliver scalable, tailored programming that empowers justice-involved individuals to successfully reintegrate into society.

Nate Ober is the Chief Technology and Product Officer at APDS, where he leads teams responsible for developing innovative content and technology products for justice-impacted learners and driving technology efficiency in the company’s business systems. With 18 years of experience in education technology, Nate has a track record of guiding organizations through growth and transformation. He has expertise in product management, agile transformation, IT modernization, software development, and scalable educational technology solutions. Before joining APDS, Nate held various roles in the education industry, including CTO and Head of Product at Straighterline and CTO at Questar Assessment.

Dr. Amy Lopez is a federal appointee and nationally recognized expert who designs and delivers innovative correctional educational programming for incarcerated individuals and training for staff entrusted with their care. She is a pioneer in launching first-of-their-kind programs on positive behavior interventions, leveraging technology to connect incarcerated individuals with educational and legal resources, and implementing innovative trauma-informed staff training to de-escalate crisis situations. 

Carol D’Amico is a seasoned higher education reformer, dedicated to connecting education with the world of work. As a consultant, she contributes to talent growth across education, workforce, and economic development sectors. D’Amico’s background includes serving as Executive Vice President of Strada Education Network, Assistant Secretary for Adult and Vocational Education in the U.S. Department of Education, and co-director of the Center for Workforce Development at the Hudson Institute. While at the Hudson Institute, she co-authored “Workforce 2020,” examining the future U.S. workforce demographics and the challenges of preparing for a global economy.

 

In addition to her policy work, D’Amico has held leadership roles in higher education institutions, serving as executive vice president and chancellor of Ivy Tech Community College of Indiana, and president and CEO of Conexus Indiana, a manufacturing and logistics initiative.

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