Online high school, The American Academy, raises $6 million in capital to expand reach

Virtual high schools have advanced to a level of credibility that venture capital investors are willing to bet money on the chance of making big profits.

The American Academy http://www.theamericanacademy.com/ , a Salt Lake City-based online high school with 800 students, has received $5.8 million to expand its business from a collection of investors led by Austin Ventures of Austin, Texas.

"The management team [is] really well-versed in this market. They are well-respected and they have a lot of traction," Mike Dodd, a partner at Austin Ventures, said Monday.

By Paul Beebe

The Salt Lake Tribune

Full Story: http://www.sltrib.com/business/ci_14044059?source=rss