AdmitHub, developer of a conversational AI chatbot for students, secured investments from Salesforce Ventures and the Google Assistant Investments program.
The new funding, which brings the company’s total to $7.5 million, was led by education impact investor University Ventures, with participation from Reach Capital, Relay Ventures, and Rethink.
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. According to AdmitHub, its chatbot was developed to help institutions combat the 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%.
“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.”
Since its founding in 2014, AdmitHub chatbot has served more than 1.5 million students at more than 90 institutions across the U.S. 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.