CollegeVine, a Cambridge-based startup providing mentoring services for college applicants, announced Wednesday it closed $3.1 million in Series A funding. The round was led by Morningside Technology Ventures, which was co-founded by Gerald Chan, who owns real estate in Harvard Square worth more than $100 million total. It also included participation from University Ventures. The company plans to use the capital to continue development of its technology and product, and increase headcount of both employees and users.
The startup’s technology matches accomplished college students with nearby high school students to help the latter party navigate the college admissions process. It takes into account personal preferences, such as whether a high schooler wants help being accepted into a top-tier university or finding the best college for them.
“There is a huge unmet need for high school students to get proper guidance and mentoring in their planning for college and their application for admission. The fast growth of CollegeVine's business validates that its services are exactly what high school students are looking for. Optimizing the college application process is beneficial both to the applicants and to the universities,” Chan said in a statement.
CollegeVine (formerly known as Admissions Hero) was founded by two Harvard University students and a University of Chicago student, and they initially worked out of the Harvard iLab. Recently, the venture has taken on former Zipcar executive Doug Williams as its chief technical advisor, as well as Harvard Business School professor Deepak Malhotra as a member of the board of directors. With this Series A investment, CollegeVine will also add Chan to its board.
