ClearScholar, a mobile student engagement platform, has secured $1.25 million in funding. The funding round included contributions from High Alpha Capital, Elevate Ventures, Butler University, and a number of private investors.
ClearScholar, which launched in partnership with Butler University last year, is a student engagement platform that connects students and institutions and delivers a personalized, mobile student experience that includes a mobile student ID and curated events, as well as tailored news and activities. On the backend, administrators have access to a platform that encourages student engagement and drives student outcomes.
“I am thrilled with the progress we have made over the past six months and the team we have put together,” says ClearScholar Chief Executive Officer Jason Konesco, the former president and chief executive of Harrison College. “We are actively in conversations with a diverse group of universities and are seeing that our approach and product is a differentiated market leader."
The funds will be used to accelerate hiring in sales, marketing and product development. ClearScholar recently launched its Early Adopter Program and is on track to add nine additional institutions in 2017.
The National Center For Education statistics found that only 59% of first-time, full-time students entering America's colleges and universities graduate within six years. ClearScholar’s product is aimed at helping universities improve student success and outcomes, an increasingly important issue for educational institutions.
“There is a huge opportunity for educational institutions to embrace emerging technology to drive improved student outcomes and leave tangible impacts on the lives of students,” says Mike Fitzgerald, partner at High Alpha. “We are thrilled to see ClearScholar’s early traction and believe they have assembled an outstanding team to build a market-leading and industry-defining company.”