The school is owned by the publicly traded Capella Education Company. Capella University offers bachelor's, master's (MS and MBA) and doctoral (PhD and PsyD) degrees in business, information technology, education, psychology, public health, public safety and human services.

Within those areas, Capella has 114 graduate and undergraduate specializations and 15 certificate programs with over 1050 online courses. More than 28,100 learners are enrolled from all 50 states and 55 other countries, with approximately 5,067 undergraduate, 23,085 graduate students and the remaining 1 percent enrolled in certificate programs. A faculty of 1,150 professors with 81 percent holding doctoral degrees. Capella faculty live in 49 states and 9 foreign countries.

What is now Capella University was established in 1991 by Dr. Harold Abel and Stephen Shank, former CEO of Tonka, who believed adults were an academically underserved population by traditional universities.

In 1993, Dr. Harold Abel, a former president of three universities, became the first president of the Graduate School of America. This school was later renamed Capella University.

In 1997, Capella University received regional accreditation.

In 1999, the parent company and university were renamed to Capella Education Company and Capella University, respectively.

In 2000, the Capella University began to offer bachelor's degree programs for the first time.

In 2006, Capella Education Company became a publicly traded company (NASDAQ: CPLA).

In 2007, Capella was named one of 86 higher education institutions in the United States to have received the National Centers of Academic Excellence in Information Assurance Education (CAEIAE) designation by the National Security Agency (NSA). The designation is valid for the academic years 2007 through 2012.

In March 2008, Capella Education Co., longtime occupant of the 225 South Sixth skyscraper in downtown Minneapolis, signed a new lease that expanded its office and renamed the building Capella Tower effective March 2009. The building houses all of the company's 1,150 downtown Minneapolis administrative staff.