Cometa, a revenue optimization platform for schools in Latin America, today announced the successful closing of a $12 million Series A financing round led by Reach Capital, with participation from Acrew Capital, Kaszek Ventures, Homebrew and Latitud Ventures.
According to the company, the investment will allow Cometa to expand beyond its core focus on collections management, incorporating new tools aligned to maximize school revenue by launching two additional products as part of its comprehensive suite. The company is also looking to strengthen its market presence as more schools adopt its platform to modernize their operations.
Since its founding, Cometa has experienced outstanding growth, increasing its size 17-fold in the last 18 months, the company said. Its platform has proven effective in reducing tuition delinquency by 52%, with many institutions achieving almost zero defaults.
In Latin America, the inadequacy of the public education system has led the middle class to prefer private institutions to ensure a better future for their children. However, most private schools in the region lack the financial and technological infrastructure necessary to grow. More than 90% of private schools in Mexico are family-owned businesses and often face financial management challenges. During the pandemic, nearly a third of these schools were forced to close due to financial instability.
Cometa’s mission is to address these needs by automating collections, payments and administrative workflows, allowing schools to reinvest in their educational offerings and provide quality education at a lower cost, reaching more families throughout Latin America.
“Running a private school is not just about delivering education; it’s about running a business,” said Andres Benavides, CEO and co-founder of Cometa. “By helping schools optimize their revenue, streamline their operations and focus on their core mission of educating students, we make quality education more accessible to families in Latin America.”
Esteban Sosnik, Partner at Reach Capital, shared his thoughts on the investment: “Cometa is transforming the way private schools operate in Latin America by providing modern tools to address their most critical operational and financial challenges. We are excited to support them as they reshape the educational landscape in the region.”
Over the past two years, Cometa has worked closely with schools to understand their needs in collections and across the full spectrum of administrative tasks. School principals, dissatisfied with outdated systems, are requesting new modules to streamline their operations, representing a significant opportunity for Cometa to build the next-generation operating system for schools in Latin America.
With an ambitious roadmap, Cometa plans to extend its platform beyond administration, offering tools that drive growth for these organizations. Its integrated online store, for example, allows schools to sell products and services directly to families, increasing control and profitability.
As Cometa scales, it continues to focus on its mission to transform private education through innovative technology. With strong financial backing and a clear vision, Cometa is poised to become the essential platform for school leaders in Latin America.
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