Kuali

Deal Snapshot

Company: Kuali, Inc.

Website: kuali.co

Sector / Category: Higher education SaaS / administrative systems (finance, research, curriculum, forms & workflows)

Headquarters: Lehi, Utah, USA

Founded: 2004 project origin, 2014 for-profit company 

Investor: Frazier VC

Investment Vehicles: Fund III, Fund IV

Deal Type: Primary + Secondary

Round: Series AA

Company Overview

Kuali builds cloud software for higher education, including financial management, research administration, curriculum management, business continuity planning, and no-code forms and workflow automation. The broader Kuali initiative began as a university-led project in 2004 and later transitioned into a commercial SaaS company in 2014.

Public Funding / Capital Events

Jan 28, 2019 — $12M Series A-1 (reported) led by Owl Ventures and Mercato Partners Kuali’s funding history is also summarized by third-party databases, but the most reliable “named investor + round” details I found in an easily citable primary source were the 2019 round above.

Investment Summary

Frazier VC invested in Kuali through a combination of primary and secondary transactions. Fund III completed both a primary and secondary purchase in December 2020, and Fund IV later purchased additional secondaries in November 2023.

Why We Invested

Frazier VC invested in Kuali because we look for scalable SaaS platforms embedded in mission-critical workflows. Kuali supports core university operations where adoption can deepen over time across departments, creating durable retention and meaningful switching costs. We also value differentiated platforms built with strong domain expertise and leadership teams that can execute in complex, regulated environments like higher education.

Other Investors

Owl Ventures

Mercato Partners