Micro-scholarship platform RaiseMe bags $15m Series B

Student financial support platform RaiseMe has received $15m in its Series B round, supporting the launch of its new platform later in the year.

Investors contributing to this batch of funding included Teamworthy Ventures, The Chan Zuckerberg Initiative, Salesforce Ventures’, and Strada Education Group.

In Fall the company is planning to launch RaiseMe for Community College Transfers, a new service dedicated to helping US community college students to earn micro-scholarships for their course while also pursuing their Associate’s degree.

RaiseMe partners with universities to provide students scholarships for their achievements during high school and community college.

It works by a student uploading their accomplishments such as course grades, clubs, sports, volunteer activities, to a portfolio. Each achievement receives scholarship funding, for example, getting an A in a core subject gets a student $1,000 and holding a leadership position in a sport earns them $1,500.

Students can then find and follow the university they wish to attend and seen the micro-scholarships they offer. College partners include, ASU, University of San Diego, FIU, Carnegie Mellon University, OU, CT, Syracuse University, and Oberlin, among others.

In a blog post, RaiseMe CEO and co-founder Preston Silverman said, “With over a million-high school and community college students connecting with nearly 300 colleges and university partners on our platform today, the micro-scholarship movement is underway — yet, this is just the beginning.

“As we focus on bringing this new chapter of RaiseMe’s story to life, we look forward to continuing to help students achieve their college ambitions by transforming their experience of discovering, preparing for, earning financial aid for, and applying to college in meaningful ways.”

Copyright © 2018 FinTech Global

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