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StudyFree — which connects college students with worldwide academic alternatives by way of a community-driven B2B SaaS mannequin — has raised a $3 million seed funding spherical led by I2BF World Ventures, TMT Investments, and TechStars. Additionally taking part was PandaDoc CEO Mikita Mikado and Google’s ex-director of product Andrey Doronichev. StudyFree has now acquired a complete of $3.6 million in funding. The brand new funds will likely be used to draw new members to the neighborhood, increase into new markets, advertising and marketing, and platform improvement.
Based in November 2018, StudyFree helps college students and alumni to enroll in universities and graduate colleges internationally, by itemizing scholarships and grants. It claims that worldwide college students utilizing its platform have now acquired scholarships and grants value $10.3M to review in universities throughout the U.S., Canada, Europe, and Asia. It gives greater than 300,000 applications for numerous levels with scholarships, with a consumer base of 90,000 college students.
Dasha Kroshkina, CEO and founding father of StudyFree mentioned: “As somebody who was born in a small city, however managed to review internationally, I do know greater than most how necessary it’s for everybody on this planet to have this chance. We estimate the worldwide abroad training market is 15 million college students per 12 months.”
StudyFree’s major rivals is ApplyBoard (a unicorn) and conventional consulting companies, however in contrast to the latter, StudyFree leverages its impartial neighborhood of scholars with examine overseas expertise who act as mentors and help new customers with enrollment. These alumni, who’ve a robust want to ‘give again’, can host neighborhood occasions and community with these new college students. The service then generates income by way of a subscription mannequin.
Mikita Mikado, CEO of PandaDoc mentioned: “StudyFree has turn out to be a number one skilled in worldwide college admissions with a confirmed 98% success charge for its college students over the past 3 years. It’s modified the adviser market, not solely by digitizing the advising course of all through the applying course of, but in addition by making human capital and neighborhood the inspiration of its product.”
Kroshkina is the primary feminine founder to win the Seedstars international competitors in its 7-year historical past. StudyFree was additionally chosen by TechStars New York Metropolis Accelerator and Berkeley SKYDECK, along with attracting funding from TechStars twice.
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