RADNOR, PA — Virent Capital recently acquired a stake in higher education marketing firm Kanahoma LLC, marking the Radnor-based private equity firm’s first platform investment as it seeks to build a broader enrollment services business serving colleges and universities facing pressure to attract students.
Kanahoma’s management team will retain a significant ownership stake, with founder Seth Odell continuing as chief executive officer. Financial terms of the transaction were not disclosed.
The investment gives Virent a foothold in the higher education services market, where institutions are increasingly seeking outside support for student recruitment, marketing and enrollment management.
Virent plans to expand Kanahoma beyond its existing marketing services through internal investment and complementary acquisitions, creating a business capable of supporting institutions throughout the student recruitment and enrollment process.
Chip Paucek, co-founder and former CEO of education technology company 2U, has joined Kanahoma’s board as co-chairman. Paucek previously led 2U as it expanded into a university partnership business generating nearly $1 billion in annual revenue.
Founded in 2020 by Odell, a former higher education chief marketing officer, Kanahoma employs nearly 50 full-time workers and serves more than 20 colleges and universities nationwide.
Its services include academic program strategy, brand positioning, paid advertising, website development, search engine optimization and prospective student engagement.
The company appeared on the Inc. 5000 list of fast-growing private businesses in both 2025 and 2026.
Connor McMahan, Virent’s founder and managing partner, identified enrollment pressures as a central factor behind the investment.
“Enrollment growth has become a strategic priority for institutions, not just a marketing function,” McMahan stated, describing the firm’s strategy to expand Kanahoma’s capabilities across the student recruitment process.
Odell indicated that colleges increasingly want integrated services connecting marketing spending with enrollment results.
“The lines between marketing and enrollment are blurring, and our partners need more than a campaign or a channel,” Odell stated.
Virent intends to support the expansion through Virent Drive, its internal digital development operation, alongside potential acquisitions that would add services and technology.
The transaction represents the first investment under Virent’s create-and-build strategy, which targets founder-led companies and seeks to expand their operations through additional capabilities and acquisitions.
Salem Investment Partners provided debt financing and participated as a co-investor.
Garnet Partners served as Kanahoma’s exclusive financial adviser, while Lippes Mathias provided legal counsel. Troutman Pepper Locke represented Virent.
The investment positions Kanahoma to compete for a larger share of institutional spending on student recruitment and enrollment services while retaining its existing management team.
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