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Illustration: Rebecca Zisser / Axios

Guild Education, a Denver-based education benefits platform for Fortune 1000 companies, raised $157 million in Series D funding led by General Catalyst at a $1 billion post-money valuation.

Why it matters: Guild's mission is to help workers catch the increasingly elusive American dream, by better enabling them to obtain degrees and credentials required for higher-paying jobs.

  • Other investors included Emerson Collective, Iconiq Capital, Lead Edge Capital, and return backers Workday Ventures, Salesforce Ventures, Next Play Capital, Silicon Valley Bank, Felicis Ventures, Bessemer Ventures, Redpoint Ventures, and Harrison Metal. General Catalyst partner Ken Chenault, former CEO of American Express, will join Guild's board of directors.

The bottom line: "The cost of digital education for higher ed just keeps skyrocketing, and Google and Facebook are making a killing on it. Universities typically spend between $4,000-$6,000 to acquire a Bachelor's student and up to $14,000 for a Masters degree student. We get paid out of the savings universities realize for not having to pay through those channels," Rachel Carlson, co-founder and CEO of Guild Education, said.

Go deeper:

Go deeper

Journalism's two Americas

Illustration: Shoshana Gordon/Axios

There's a sharp divide in American journalism between haves and have-nots. While national journalists covering tech and politics on the coasts reap the benefits of booming businesses and book deals, local media organizations, primarily newspapers, continue to shrink.

Why it matters: The disparate fortunes skew what gets covered, elevating big national political stories at the expense of local, community-focused news.

Updated 10 hours ago - Sports

Olympics dashboard

🚨: Japan's Naomi Osaka lights Olympic cauldron; Photos

👻: How the no-spectator Olympics could affect the athletes

🇺🇸: "What an honor it is to watch you soar," first lady tells U.S. Olympians

🌏: Meet the underdogs from Latin America

🥇: The six new sports at Tokyo 2020

💉 About 100 U.S. Olympic athletes are unvaccinated

✍️ Axios at the Olympics: What it's like inside the opening ceremony

Go deeper: Full Axios coverage

Senate Democrats demand answers on FBI's Kavanaugh probe

Photographer: Andrew Harrer/Bloomberg via Getty Images

Senate Democrats are demanding that the FBI hand over "all records and communications" related to the FBI tip line set up to investigate Supreme Court Justice Brett Kavanaugh when he was a nominee in 2018.

Why it matters: The ask comes after the FBI revealed it received more than 4,500 tips about Kavanaugh when he was awaiting Senate confirmation amid sexual assault allegations. Only the most "relevant" of these tips were forwarded to the Trump White House.