BOSTON, MA, AdmitHub today announces $7.5 million in financing.
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AdmitHub, developer of a pioneering conversational AI platform now used by more than 90 institutions to help students succeed in college and beyond, today announced that it has secured investments from Salesforce Ventures and the Google Assistant Investments program. The new funding, which follows a 2018 Series A round led by education impact investor University Ventures, along with participation from Reach Capital, Relay Ventures, and Rethink, brings the company's funding total to $7.5 million over the past year.
"Through our partnership with AdmitHub, we're realizing the promise of artificial intelligence and machine learning for delivering timely, personalized support to our students at scale," said Tim Renick, Senior Vice President of Student Success at Georgia State University. "The impacts have been significant, not merely boosting enrollment and retention but disproportionately benefiting underserved students-the students who previously struggled the most."
Research suggests that up to 40% of admitted college students never make it to the first day of class, often due to the complexities of navigating the enrollment and admissions process. AdmitHub's pioneering technology was first developed to help institutions combat so-called "summer melt." According to a randomized controlled trial, the company's AI chatbot has helped Georgia State University reduce summer melt by more than 20%.
"AdmitHub's commitment to developing research-driven solutions for student success has made them an exemplar in the higher education technology industry as a whole," said Troy Williams, Managing Director at University Ventures. "This investment is a reflection of their status as a leader in the application of emerging technologies to deliver real-time, individualized support to all students."
Since its founding in 2014, AdmitHub has served more than 1.5 million students at hundreds of institutions across the country, by providing on-demand student assistance via text message, web chat, and social media, answering questions in real time, and connecting students to appropriate advisors and resources. Through deep partnerships with college and university leaders, the company uses AI to address the most persistent challenges in higher education access and success.
"As a new generation of students arrives on campus, colleges and universities are in search of new strategies to increase enrollment, boost retention, and help students succeed at every point along their educational journey," said Drew Magliozzi, Co-Founder and CEO of AdmitHub. "This is about tapping into the power of AI, and the ambitions of institutional leaders, to provide proactive, personalized guidance at scale."
AdmitHub is focused on student impact. Established in 2014, AdmitHub pioneered conversational AI in higher ed and has reached over 1 million students through its mobile messaging platform. AdmitHub blends AI chatbot technology with industry expertise and research-backed conversational strategy to guide students on a personalized path to and through college. College staff can now stay one step ahead and support students at scale with an AI-powered assistant at their fingertips 24/7. Learn more and request a demo at AdmitHub.com.