EdVisorly lands $13.3M Series A to automate college admissions
What's the deal? EdVisorly has raised $13.3 million in a Series A round led by Breachway CapitalDealroom has a profile for this one. Try Dealroom →. U.S. News & World ReportDealroom has a profile for this one. Try Dealroom →, Lumina FoundationDealroom has a profile for this one. Try Dealroom →, Strada Education Foundation, Motley Fool VenturesDealroom has a profile for this one. Try Dealroom →, Juvo VenturesDealroom has a profile for this one. Try Dealroom →, and Zeal Capital PartnersDealroom has a profile for this one. Try Dealroom → also participated.
What does it do? The Los Angeles startup's EddyAI platform automates time-consuming admissions workflows, including transcript processing, transfer credit mapping, and GPA recalculations. It says institutions using the platform have cut manual processing by up to 85%.
Why now? Colleges face pressure to process more applications and evaluate more transfer credit with fewer staff and tighter budgets. Many of these workflows still rely on decades-old technology or are done by hand.
Who's using it? EdVisorly works with over 100 colleges, universities, and higher education systems, including the University of Connecticut, California State Polytechnic University, Pomona, the University of Massachusetts, and Carnegie Mellon University.
Who's behind it? Founder and chief executive officer Manny Smith is an Air Force veteran who built systems for the Air Force and Space Force. A first-generation graduate of the US Air Force Academy and UC Berkeley's Haas School of Business, he says the company was built on the belief that enrollment teams are "the front door to social and economic opportunity for millions of students."
What's the money for? The capital will fund product and engineering work, new feature development, and leadership hires. Since March, EdVisorly has more than doubled its engineering and product teams and added a new CTO and COO.
The signal: At $13.3 million, the round sits in roughly the 67th percentile for deals of its kind — a solid but not outsized bet that automation can ease admissions bottlenecks as institutions do more with less.
Read more: PR Newswire
Image credit: EdVisorly
