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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

Tim Scott hopes to reintroduce version of GOP police reform bill

Photo: Stefani Reynolds/Bloomberg via Getty Images

Sen. Tim Scott (R-S.C.) told reporters Wednesday he plans to reintroduce his police reform bill or a similar proposal in the coming weeks and that he has discussed a potential compromise with Rep. Karen Bass (D-Calif.) and Sen. Cory Booker (D-N.J.).

Why it matters: Eyes have again turned to Washington to take steps to address police reform in the wake of Derek Chauvin's guilty verdict Tuesday, after efforts stalled in Congress last year.

Biden announces small business tax credits for vaccine PTO

Photo: Doug Mills/The New York Times/Bloomberg via Getty Images

President Biden on Wednesday called on all employers to provide workers paid time off to get vaccinated or recover from COVID side effects, and said he'll include a paid tax credit for small businesses that do so.

Why it matters: The Biden administration sees workplaces as highly influential in making shots more convenient for working adults who are in high-risk industries.