CAMBRIDGE, Mass., Aug. 2, 2017 /PRNewswire/ -- CollegeVine, a national online provider of student mentoring and college admissions guidance for high schoolers and their families, today reported company growth and capital raises through the first half of 2017. CollegeVine doubled its Series A to $6.7m in March with $3.6m additional funds from Morningside Technology Ventures and University Ventures.
"Our momentum is a direct result of addressing the changes needed in the college admissions process," said Jon Carson, CollegeVine CEO and 30 year edtech entrepreneur veteran. "Our platform and process of having near-peer mentors (college students) work with high schoolers and their families helps lessen the stress of the college admissions process. This year is extremely pivotal in our progress because we are disrupting the industry with the use of data to help students match with schools that are best for them. "
These milestones help validate CollegeVine's value proposition and proliferation in the edtech industry, but what particularly highlights its success is the amount of students CollegeVine has helped find and be admitted to the best schools for them, exceeding the market acceptance rate close to four times.
"One of the most important things CollegeVine was able to provide for my family and my teenager was a sense of regaining control over a stressful process," said Denise Hoffner, parent of a CollegeVine student from the 2017 admissions class. "Navigating the college admissions process is tough when you have little to no guidance from the high school, but CollegeVine helped my son stay organized and created a path to help him get admitted to some of his top choice schools. Having stellar, incisive assistance took pressure off of us individually and collectively."
Continuing to demonstrate its leadership, innovation, and commitment to high school students and their families, CollegeVine has made major strides in achievements including:
- Doubled capital raise: CollegeVine closed an additional $3.6 million Series A funding round in April to bring its total series A financing to 6.7M.
- Release of Mentorship 2.0: To better serve the growing needs of its customer base, CollegeVine extended its mentorship program by increasing the number of meetings between mentors and mentees, providing students with access to more interest-specific resources such as exclusive office hours with experts in a student's particular field of interest.
- Total offering of scholarship dollars: CollegeVine's robust client base has received a total offering of $14,500,000 in scholarship dollars for the 2016-17 college acceptance season.
- Progressive pro bono program: The company's ongoing devotion to its pro bono program saw a 90 percent acceptance rate to a top 50 school, as well as a 71 percent acceptance rate to Ivy League or equivalent schools.
- Company recognition: CollegeVine has been recognized as one of top 50 startups to watch by Built in Boston, slated to make a huge impact in tech over the next 12 months. The company's momentum has been featured in key media outlets including The Wall Street Journal, Business Insider and Boston Business Journal.
- Incremental inbound inquiries and website traffic: CollegeVine has seen a steady uptick in website traffic by 3.5 times and a six-time growth in inbound inquiries over the previous year.
- Expansion of leadership: The company has grown its leadership team with the addition of Aaron Rissler, who previously ran sales at 2020 Onsite. Upon joining CollegeVine at the beginning of the year, Aaron has led the team to beating the sales plan every month so far in 2017.
CollegeVine also recently added Stephen Smith, co-founder of Naviance, to its Advisory Board. Smith joins Doug Williams, CTO of iSpecimen on the Advisory Board, and will provide guidance for continued growth of CollegeVine as a strategic advisor.
CollegeVine is a leading provider of one-on-one mentorship, academic and test prep tutoring, and college applications guidance. The company features an expansive network of near-peer advisors at the nation's top universities—their experience representing more than 20 different majors, substantial extracurricular activities and far-ranging success. For more information, visit www.collegevine.com.
InkHouse for CollegeVine
Danielle Laurion (781) 966-4146