London-based StudentCrowd, a decision-making platform for higher education, announced that it has secured £2.55M (approximately €2.94M) in a Series A round of funding.
The round was led by PwC Raise Ventures and the MEIF Proof of Concept & Early Stage Fund (managed by Mercia Ventures).
Rafael Joseph of Mercia Ventures says, “Having grown up in a digital world, today’s students are more likely to make decisions based on reviews rather than marketing material.”
“StudentCrowd is the only platform of its type that offers reviews from verified students and covers universities, courses and accommodation. The company has huge potential for growth.”
“This investment will enable it to establish its position as the leader in the UK market and prepare it for international expansion,” adds Joseph.
What does StudentCrowd offer?
Founded in 2015 by Paul Humphreys and Pete Sisson, StudentCrowd aims to address the challenges that prospective students encounter when comparing their higher education choices.
The platform’s initial launch was made possible through private investments amounting to over £600K, with the last fundraising round taking place in 2019.
Humphreys says, “Choosing a university is one of the biggest financial decisions that a young person can make. Our mission is to offer them the best quality information so they can make the best choices. Our reviews also provide valuable feedback to universities and accommodation providers, enabling them to further improve their services.”
In 2022, StudentCrowd saw over 1.7 million users, including around 30 per cent international students. The platform’s appeal lies in its verified reviews written by current students and responded to by universities and accommodation providers.
Peer reviews have become a critical factor in student decision-making with 77 per cent of students considering them essential in their higher education choices (according to a UCAS survey).
StudentCrowd aims to help prospective students make informed decisions about their higher education options by providing valuable insights from their peers.
From the perspective of higher education service providers, StudentCrowd offers effective customer service management through review responses, enhanced product marketing to a large student user base, data-driven insights for pricing and improvements, and an avenue to improve student satisfaction, trust, and transparency.
Capital utilisation
StudentCrowd says it will use the funds to expand its operations, cover a wider range of student decision-making areas, and enhance data and related insights to the higher education sector.
Humphreys says, “This funding round will enable us to further enhance the platform and pursue our goal to become the Tripadvisor of higher education.”
“We’re delighted to start this new season with Raphael on our board and Mercia/MEIF in our corner. We’ll use the funds to further innovate our products and services as we build the world’s largest decision-making platform for students,” adds Humphreys.
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