INDIANAPOLIS--(BUSINESS WIRE)--ClearScholar, a leading mobile student engagement platform, announced today it has secured $1.25 million in funding. The round included High Alpha Capital, Elevate Ventures, Butler University, Cindy and Paul Skjodt through Bulle Investments and Stephen Simon, co-founder of Simon Equity Partners.
“I am thrilled with the progress we have made over the past six months and the team we have put together,” said 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,” Konesco added.
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.
ClearScholar’s product is aimed at helping universities improve student success and outcomes, an increasingly important issue for educational institutions. The National Center For Education statistics found that only 59 percent of first-time, full-time students entering America's colleges and universities graduate within six years.
“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,” said 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.”
ClearScholar, which launched out of High Alpha Studio in partnership with Butler University last year, also recently announced the addition of Jason Stele and Josh Williams to its leadership team, both of whom bring extensive higher education experience to ClearScholar.
ClearScholar is a student engagement platform that connects students and institutions to build, retain and grow lifelong relationships. ClearScholar delivers a personalized, mobile student experience that includes a mobile student ID and curated events, news and activities that align with their specific interests and needs. Administrators have access to a platform to encourage student engagement and drive student outcomes. Visit clearscholar.com or follow @ClearScholar for more information.