Higher-Ed Admissions Platform Element451 Closes $3M Series A Funding Round, Will Expand Student Engagement Efforts
Venture capital firm Cultivation Capital leads the round, with support from series seed lead investor Cofounders Capital as Element451 continues to advance its enrollment software.
RALEIGH, N.C., April 22, 2021 /PRNewswire/ -- Student admissions and enrollment platform Element451 closed a $3 million Series A funding round with plans to further invest in its student engagement efforts.
Lead investor Cultivation Capital is joined by series seed lead investor Cofounders Capital and another strategic investor.
"With my personal experience as a faculty member and program director, I understand the value that Element451 is creating for college admissions offices, and I am excited to help them grow," said Cliff Holekamp, co-founder and managing director of Cultivation Capital.
Previously, Cofounders Capital contributed $1 million in seed financing that Element451 used to accelerate company growth.
"This was a perfect raise because it brought in the next round of VC with deep vertical expertise in this space and a strategic investor/partner," said David Gardner, Cofounders partner and founder.
During the COVID-19 pandemic, the ability to pivot quickly — whether that entailed taking events virtual, extending deadlines, or finding new ways to connect with prospects — was necessary to survival. As the industry now begins to emerge from the pandemic, new challenges are emerging, too. For example, steep drops in enrollment and operating dollars.
Element451 will use this latest round of funding to further innovate in these areas, investing in student engagement opportunities throughout the enrollment process and continuing to create a value-conscious platform that puts more power in the hands of institutional leaders.
"Student engagement is more important than ever following the pandemic," Ardis Kadiu, CEO of Element451, said. "The past year has leveled the enrollment field, and schools need better and more innovative tools to help them compete."
Element451 will achieve this mission in part by focusing on its suite of personalized communications tools called Packs. Packs was created to boost and personalize admissions efforts without taxing a team's resources, and Element451 will expand it into a marketplace that gives institutions even more options and flexibility.
To further make its platform accessible to all types of schools, Element451 recently introduced a simple pricing model that includes customer support, fast and seamless implementation, and advanced business analytics. The move was inspired by the need to offer financial help to schools while continuing to deliver best-in-class engagement tech regardless of an institution's size.
Erin Newton
[email protected]
SOURCE Element451
