Cambridge Trust Company, a subsidiary of Cambridge Bancorp, announces that it has provided financing to MasteryPrep, a technology company focused in the education sector working with hundreds of school districts around the country to level the playing field on college readiness and end-of-course exams. The financing allows MasteryPrep to continue its growth objectives, having recently been recognized as one of the country’s fastest-growing K-12 education companies.
“Working with Cambridge Trust provided us with the understanding, responsiveness and flexibility that companies need in their pursuit of growth,” said Craig Gehring, CEO and Founder of MasteryPrep. “The lending team at Cambridge Trust took time to understand MasteryPrep’s business. This new financing will further enable us to accelerate our mission to boost student achievement, following our acquisition by Achieve Partners in November.”
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MasteryPrep’s unique approach helps schools and districts meet federal and state accountability targets by improving student outcomes on end-of-course exams, with a model specifically designed around access and affordability for districts in low-income communities. The company currently works with more than 500 school districts across the country.
“Growing businesses like MasteryPrep require partners that understand their strategy, support their goals and meet their needs,” said Chris Roy, Director, Innovation Banking at Cambridge Trust. “We’re glad that our Innovation Banking team was able to deliver the support that MasteryPrep and Achieve Partners need to help realize the company’s vision in improving student outcomes across the country.”
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Cambridge Trust’s Innovation Banking Group is a leading Boston-based lender focused on the financial needs of growth-stage companies which drive the expansion of the innovative economy and support Cambridge Trust’s growth strategy.
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