WASHINGTON, DC – Latimer Education Inc., a DC-based company developing an online university for African Amiercans, has closed a $1.25 million financing from venture firm Malvern, company executives, and individual investors.

Jason Stoffer and Amy Errett of Malvern will join Latimer’s board.

Latimer’s President, Brian W. Jones, is the former general counsel of the U.S. Department of Education and the current chairman of the Washington, DC Public Charter School Board.

He was also senior counsel at Dow Lohnes, a Washington, DC-based law firm, where he served as a strategic and legal advisor to various for-profit education stakeholders.

“As the for-profit education sector continues growing, we believe institutions will begin focusing more attention on serving specific student segments,” said Jones. “Just as we saw the creation and growth of African American targeted businesses in the media industry, we plan to establish Latimer as the premier choice for African Americans seeking a culturally relevant, quality post-secondary online education.”

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Tags: DC, financing, Latimer Education, online university