MiTio Secures $20mm in Capital to Grow Income Share Agreement Program and Increase Access to Medical Interpreting Training

NEW YORK, Nov. 17, 2020 /PRNewswire/ -- The Medical Interpreting and Translating Institute Online (MiTio), today announced the close of $20mm in growth financing to drive the expansion of their Income Share Agreement program. MiTio is the nation's oldest online medical interpreter training program, and the first in the country to offer Income Share Agreements. The capital will allow MiTio to increase access to its training program and provide bilingual students the training necessary to secure a role in the certified medical interpreter industry, projected to grow 20% by 2029 - five times faster than average. Income Share Agreements demonstrate MiTio's dedication to student success by providing outcomes-aligned financing while simultaneously opening its high-quality education and upward career mobility opportunity to low-income bilingual individuals across the United States.

MiTio has partnered with Leif, the ISA Management Platform, to launch and manage its Income Share Agreement program. Leif works with industry leading education providers that deliver exceptional outcomes to students across a variety of fields of study. Leif's outcomes-aligned tuition financing solutions help education providers unlock full program growth and impact potential.

Dr. Nelva Lee, founder of MiTio, commented: "Income Share Agreements align perfectly with our mission to deliver superior medical interpreting outcomes to our students. We chose to partner with Leif because they are the market's only 'one-stop-shop' for our ISA program's needs, offering best-in-class technology solutions to help solve the origination, program management, and financing needs for our program. Leif's expertise made launching and growing our ISA program a smooth experience for MiTio and our students."

"Leif is committed to partnering with the best education providers across all industries and helping them maximize their impact by leveraging outcomes-aligned tuition financing," remarked Jeffrey Groeber, CEO of Leif. "Creating career paths in Allied Health is now more important than ever. For this reason, we were thrilled by the opportunity to partner with MiTio. Their premier program allows many bilingual students to change their lives with a new career path that would have been otherwise unattainable."

About MiTio:
Founded in 2004, MiTio is accredited by the IMIA (International Medical Interpreters Association) and offers their flagship 160 hour Diploma Course in all languages, including Spanish, Mandarin, French, and Vietnamese interpreting. MiTio differentiates itself from other programs by offering courses through the Internet and by its commitment to quality and excellence as well as the use of state-of-the-art technology. Internet delivery enables MiTio to create a complete interactive learning process with a real-time instructor, controlled environment, threaded discussions, and exams to assess learning. The Institute is committed to providing interactive Internet programs of high quality and professional standards.

About Leif:
Leif is a technology company dedicated to increasing access to quality and affordable education. The company has developed an end-to-end platform that enables the design, origination, and program management of Income Share Agreement programs. As the infrastructure layer that powers the Income Share Agreement ecosystem, Leif partners with schools to provide students with an outcomes-aligned form of education finance.

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SOURCE MiTio