Edtech BridgeU raises £4m to “prepare students for the world of tomorrow”
Having raised £6.4m to date, the London-based edtech start-up has grown its team to over 40 and now works in over 50 countries worldwide
BridgeU, an edtech start-up that develops university preparation and careers guidance software, has raised £4m worth of Series A funding in an investment round led by Octopus Ventures.
Existing investor Fresco Capital also participated, and new investor Downing Ventures joined the round.
Designed to meet the developing needs of the higher education industry, the platform aims to help students make better decisions when applying for university in an effort to curb high dropout rates and poor skills alignment with emerging labour market opportunities.
Using BridgeU's online platform, students build a personal profile that incorporates data on subject interests as well as grades and social, professional and learning preferences.
Its matching algorithm then cross-references a vast database of historical admissions data points to generate university and course recommendations that are personalised to the preferences and strengths of each individual.
Application tools on the site then aid students with creating compelling university applications, and help teachers to manage and track their progression by assigning them tasks and collaborating on application forms and supporting documents.
For schools, BridgeU also helps said institutions track performance and admission trends and says it “lifts the lid” on how universities admit applicants – giving schools valuable insight into the process.
Having raised £6.4m to date, the London-based edtech start-up has grown its headcount to over 40, works in over 50 countries worldwide and has a Hong Kong office.
The latest injection of funds will be used to support team growth and will allow BridgeU to add to its product offering and further develop its platform to suit the needs of young people.
Back in May 2017, the start-up announced a partnership with ManageBac, one of the world’s leading curriculum first learning platform, which serves four in five International Baccalaureate Diploma students worldwide.
The partnership is designed to enhance access to university and careers guidance for IB students.
While in the coming weeks it'll launch its “Career Planner” which will help students “discover and explore a vast array of job families and industries.”
Lucy Stonehill, co-founder and CEO of BridgeU, said:
“At BridgeU, we’re dedicated to building a solution which empowers schools to prepare the students of today for the world of tomorrow.
“In a world where 65% of students in primary school will eventually find employment in jobs that don’t currently exist, helping young people to make informed decisions from the ages of 14-24 is critically important.”
Allison Baum, managing partner at Fresco Capital, said:
“We invested in BridgeU because there is a clear need to bring efficiency and transparency to the university application process.
“BridgeU is a very compelling opportunity sitting at the intersection of a micro customer need driving short term adoption, and a key macroeconomic trend.”