CollegeVine Secures $24 Million In Series B Funding To Continue Its Disruption Of The College Guidance Industry With Affordable And Effective Solutions
May 8, 2019
CAMBRIDGE, Mass., April 1, 2019 (PR Newswire)
Today, CollegeVine, the leading provider of affordable, data-driven high school guidance and college admissions advising, announced it has secured $24 million in Series B funding from Maywood Street Investments (Maywood”), Fidelity Investments (“Fidelity”), Morningside Technology Ventures (“Morningside”), and University Ventures (“UV”). Using over a million data points to power and propel their technology, CollegeVine has helped over 10,000 students navigate the path into college, making it the largest marketplace for college advisory services in the country. “The pricing in the college advising industry can get outrageous. Our mission is to bring data tools to families and drive down costs to expand access,” said Jon Carson, the CEO of CollegeVine. “We plan to use the Series B investment to expand our data science and engineering teams and to support our ability to bring affordable services to families making one of the most consequential decisions in their lifetime.”
CollegeVine‘s mission is to address the increasingly significant college guidance gap in U.S. public high schools, where the average student typically receives 38 minutes of guidance over four years even as they confront a high degree of information asymmetry in college selection. Approximately ninety-one percent of its customers are public school students and packages start at less than one-thousand dollars. CollegeVine provides them the tools to not only navigate the high school to college journey and but also recommends the highest ROI schools to minimize debt and improve career outcomes. “We felt CollegeVine was affordable and offered the best value for the investment,” said Christine Sloss, the mother of a CollegeVine student. “They helped us negotiate the offer from my son’s first choice school, and got us a significant boost in aid. CollegeVine was a gift for our family. The amazing advice and emotional support they gave us was worth every penny and more.”
“CollegeVine is leading the way in creating an affordable, data-driven approach to decision making for students hoping to get into college,” said Daniel Pianko, University Ventures Managing Director.