General Catalyst, Sam Altman Back For-Profit Community College

CampusGroup Inc., a for-profit community college offering two-year degrees and certifications, has raised $46 million from a laundry list of Silicon Valley players — including Sam Altman, Peter Thiel’s Founders Fund and Figma Inc. chief Dylan Field.

The deal was led by General Catalyst, which stressed the urgency of injecting more technology and innovation into US higher education. Campus operates mostly online — offering associates degrees as well as a series of certification programs for fields like cosmetology, phlebotomy and technical support.

Other investors in the company include Joe Lonsdale’s 8VC, Discord co-founder Jason Citron ...