Raised $20 million in a Series A funding round. The round was led by SoftBank Vision Fund 2, with participation from existing investors including GSV Ventures, SignalFire, and Y Combinator masstamilan.
Promise was founded in 2018 by two former Obama administration officials, Monica Johnson and Charmaine Mercer. The company aims to address the issue of student attrition in higher education by providing personalized support and resources to students who are at risk of dropping out myvuhub.
The company’s platform uses artificial intelligence and machine learning algorithms to identify students who are most at risk of dropping out and then provides them with a range of support services. These services can include tutoring, mentoring, financial aid, and career guidance teachertn.
Promise’s platform is designed to be integrated with a university’s existing student information systems, allowing for seamless communication between the platform and the university. This integration also allows the platform to gather data on student performance and behavior, which can be used to further improve the platform’s algorithms and services.
The funding will be used to expand Promise’s platform and services to more universities and students across the United States. The company also plans to invest in research and development to further improve its algorithms and services pagalsongs.
In a statement, Promise co-founder Monica Johnson said, “We believe that everyone should have the opportunity to achieve their educational goals, regardless of their background or circumstances. With this funding, we can continue to improve our platform and provide even more students with the support they need to succeed.”
The issue of student attrition in higher education is a significant one, with studies showing that around 30% of students drop out of college or university before completing their degree. This not only affects individual students’ futures but also has broader economic and social implications yareel.
Promise’s platform has already been implemented at several universities across the United States, including Northern Virginia Community College, San Jose State University, and Austin Community College. The company has seen positive results, with a retention rate of 97% among students who received support through the platform.
The COVID-19 pandemic has further highlighted the need for personalized support and resources for students. With many universities moving to online learning, students are facing new challenges and barriers to their education. Promise’s platform, with its focus on personalized support and data-driven algorithms, could be a valuable tool in helping students navigate these challenges and stay on track with their education.
In conclusion, Promise’s $20 million Series A funding round is a testament to the importance of addressing the issue of student attrition in higher education. With its AI-based platform and personalized support services, the company has already seen positive results in improving student retention rates. With this new funding, the company can further expand its platform and services to more universities and students across the United States, making a significant impact on the future of higher education.
