Students deciding on their next phase in higher education face a daunting choice and an array of options. Most schools have zero capability to deal with sifting 40,000 undergraduate courses in the UK, alone. Why not apply big data to the problem and create an ‘adaptive learning platform’ which actually helps students make these crucial decision, based on real data.
This London and Hong Kong-based startup has now closed a $5.3m/£4m Series A investment round led by London’s Octopus Ventures. Existing investor Fresco Capital also participated, and new investor Downing Ventures joined the round.
Its main careers guidance competitor is Naviance (owned by Hobsons, who have done some serious company wide reshuffling recently). On the ‘careers – readiness side’, there are a few small players, including most notably in the UK Morrisby.
The latest round of funding brings the total raised by BridgeU to £6.4m since the company was founded in early 2014. BridgeU’s team has grown to 40 and works with schools in over 50 countries. The new funding will cover new hires and product development.
“We invested in BridgeU because there is a clear need to bring efficiency and transparency to the university application process,” says Allison Baum, managing partner at Fresco Capital. “BridgeU is a very compelling opportunity sitting at the intersection of a micro customer need driving short term adoption, and a key macroeconomic trend.”
Rebecca Hunt of Octopus Ventures says: “Education has changed more in the last twenty years than in the previous two centuries, and edtech has played a central role in this change. We invested in BridgeU because we see a massive opportunity in the rapidly growing education and student market.”
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