Uversity Closes an Additional Round of Financing with Investors
Company to focus on advancing its predictive technology that helps higher education institutions combat trends in declining enrollment.
SAN FRANCISCO, Nov. 19, 2014 /PRNewswire/ -- Uversity, the first to apply advanced predictive technology to existing enrollment models in the higher education market, announced today that they have completed another round of funding. Learn Capital joins the round with previous investors Bill & Melinda Gates Foundation and Retro Venture Partners. This brings the company's total funding to $11.4 million since its 2007 founding and marks a significant turning point in its evolution from mobile student communication platform to a leading enrollment management tool.
In the two years since Uversity's previous fundraising, the company's revenue increased by more than 85%. Its growth was driven by:
- Partnerships with more than 140 institutions, including Syracuse University, University of Oregon, Stony Brook University and Northwest Arkansas Community College
- 47% increase in student mobile adoption and 25% in app engagement since 2013
- The launch of the first enrollment model to analyze behavioral indicators of student enrollment in real-time
"Universities are under intense pressure to meet their enrollment goals while facing budget cuts, reductions in staff and a changing student demographic," said Jamie Glenn, CEO of Uversity. "Over the past two years, Uversity has been able to deliver real-time analytics which enable enrollment managers to proactively build and shape today's incoming class. Through our mobile apps, students are able to connect with the right people and information to start smart and improve success in their college career."
While it's year-over-year growth puts the company in a strong financial position, Uversity elected to raise additional capital to:
- Advance the capabilities of its predictive modeling technology with the addition of institutional data and CRM integrations
- Explore opportunities to engage high schools students and counselors through the pre-college application process
- Accelerate its iPhone, iPad and Android app development
"We are pleased to continue our collaboration with Uversity and its investors," said Jason Palmer, Deputy Director, Postsecondary Success at the Bill & Melinda Gates Foundation. "Uversity was the foundation's first education technology equity investment and has led the way as we explore how to leverage the power of social media and community in order to increase postsecondary success."
About Uversity
Uversity believes students are more than demographic profiles and personas. Our innovative mobile and data solutions help admissions professionals achieve enrollment success by engaging their prospective students as individuals to better understand how every student is different. We empower students to make the most informed decision regarding college choice by creating mobile technology that connects them with the right information and people during the admissions process.
SOURCE Uversity
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