Benzinga | Jul 13, 2021 08:02AM EDT

Aspen Group Names Matthew LaVay As CFO

Aspen Group, Inc. ("Aspen Group" or "AGI") (NASDAQ:ASPU), an education technology holding company, today announced the appointment of Matthew LaVay to its executive management team as Chief Financial Officer, effective August 16, 2021.



Mr. LaVay most recently served as CFO of Amerit Fleet Solutions, a private equity-backed fleet services company serving 7 of the 10 largest fleets in the United States. Prior to that, he served as CFO of Ellie Mae, a leading cloud-based platform provider for the mortgage finance industry. During his time at Ellie Mae, the company grew from just over $50 million in annual revenue to over $450 million in annual revenue. Mr. LaVay brings with him more than two decades of financial and operational leadership and is recognized for his deep industry expertise in Software, Financial Services and Education, having previously held the position of Corporate Controller at Scientific Learning, a leader in evidence-based online reading and language software that was acquired by an affiliate of Carnegie Learning.

"After conducting an exhaustive search, Matthew was the clear choice to lead our finance organization," said Michael Mathews, Chairman and CEO of AGI. "He has proven multiple times the ability to successfully scale public and private companies, and his previous experience in both the education and software industries is a perfect strategic fit for Aspen Group."

"Aspen Group's mission of making college affordable again is what makes this opportunity so fascinating," LaVay said. "The Company's proprietary EdTech infrastructure has been the key to delivering industry-leading unit economics and is the asset we will continue to invest in to drive long-term shareholder value."