Inigral Secures Additional $3.25 million Investment
Leading enrollment management innovator raises capital to support rapid growth
SAN FRANCISCO, Oct. 18, 2012 /PRNewswire/ -- Inigral, creator of Schools App on Facebook, announced that it received $3.25 million in additional funding from Retro Venture Partners and the Bill & Melinda Gates Foundation. The funding will support rapid growth at Inigral, whose customer base has grown over 800% in two years. Over 100 colleges, such as University of California at Berkeley, Gonzaga University, Western Governors University and the Lone Star College system, now use Schools App by Inigral.
Inigral provides a subscription-based enrollment management solution for higher education. The application is built on the Facebook, iPhone and Android platforms, where students spend the majority of their time each day. The company's solution is proven to impact university yield and retention while providing real-time data and analytics to university administrators. Partner institutions realized as much as 4.7x higher enrollment rates amongst admitted students who use Schools App.
A 2012 study by Harvard titled The Forgotten Summer showed two of the top reasons students fail to enroll in a college once they are accepted are due to social anxiety and informational barriers. Schools App solves these problems by providing students with a trusted environment to make friends, share interests and get involved on campus, making the transition to college much easier. Additionally, a new Announcements module provides schools with the ability to target and communicate with students on a variety of channels, such as Facebook, text message or iPhone notifications. Using Announcements, institutions are helping students access important information and experience 5x higher engagement rates compared to traditional email programs.
The recently released 2012 Social Admissions Report shows 75% of high school students want universities to offer a private social network to help with their transition to college. According to Jamie Glenn, CEO at Inigral, "High school students need a better way to get information about what colleges are a good fit for them, academically, financially and socially. Meanwhile, colleges want to engage, recruit and retain students with their preferred method of communication; mobile and social technology. We've been working with colleges for the past 4 years on how to improve the student experience by eliminating social and informational barriers by leveraging university owned social networks. This additional funding will allow us to continue innovation on Schools App and the development of our proprietary real-time predictive scoring algorithm which allows schools to effectively target their recruiting and retention efforts."
San Francisco-based Inigral Inc. is the creator of Schools App, a private Facebook application for students to make friends, share interests and get involved on campus. The app has proven to be effective at retaining students on two- and four-year private and public campuses. Founded in 2007, Inigral has worked with over 100 colleges and universities to build community, increase enrollment and improve retention. In 2011, Inigral was named one of the 10 most innovative education companies by Fast Company. For more information, visit www.inigral.com
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