San Francisco -- UniversityNow, a San Francisco-based education startup developing a network of low-cost online universities, said on Thursday it has raised $17.3 million in its second round of funding, co-led by University Ventures and Bertelsmann. Previous backers Kapor Capital, Novak Biddle Venture Partners and Greylock Partners, also contributed to the round, which increased the company's total funding to $21.5 million. The company will use the proceeds to expand the program offerings at New Charter University, which it launched in March, and grow its network of partner schools. New Charter features a pay-as-you-go model, charging students $796 a term (or $199 a month) for as many courses as they can complete, including books.
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http://www.businesswire.com/news/home/20120621005175/en/UniversityNow-Secures-17.3-Million-Funding-Build-Network