Mentor Collective Raises $3 Million Funding Round Led by Lumina Foundation
BOSTON, Sept. 5, 2019 /PRNewswire-PRWeb/ -- Mentor Collective, the technology platform that powers mentorship programs for colleges and universities announced today the company raised $3 million in funding. The funding round was led by Lumina Foundation with IU Ventures, Strada Education Network, 10x Impact, EduLab Capital Partners, and Emerge Education joining the round.
Mentor Collective partners with universities to drive success for all students during and after college. Based on research that mentorship is essential to successful student outcomes, Mentor Collective helps universities activate intentional relationships between their students, alumni, and employer communities. Mentor Collective's expertise and technology platform have catalyzed more than 30,000 mentoring relationships across a fast-growing network of partners, including Princeton University, Penn State, UC Davis, Indiana University, WashU, and San Francisco State University.
"At a time when mentorship has been proven to be essential to both increased graduation rates and the ongoing professional success of college graduates, we are pleased to work with so many forward-thinking university partners to help them better activate their student and alumni communities," said Jackson Boyar, CEO, and Co-Founder of Mentor Collective.
Adds James Lu Morrissey, COO, and Co-Founder, "Our programs have been proven to drive measurable results for university partners and their students. With the support of our mission-driven investors, we will continue to help learners and institutions engage previously untapped networks of social capital."
"By helping universities connect every student with a mentor, Mentor Collective is paving the way for greater student success in college and beyond," said Jamie Merisotis, president and CEO of Lumina Foundation. "Mentor Collective aligns with our mission of investing in entrepreneurs who are helping to improve student outcomes in education after high school. We are excited to join the Mentor Collective team as they enter this next phase of growth."
"Over the last few years, we've seen a lot of edtech solutions, but we were impressed by Mentor Collective's focus on student retention," said Jason Whitney, associate vice president at Indiana University Ventures. "In just two years of supporting Indiana University, Mentor Collective has matched over 2,500 students with a peer or alumni mentor to champion their success. These students have reported over 10,000 meetings and exchanged over 27,000 text messages, evidence that the Mentor Collective team is on to something special."
To learn more about Mentor Collective's mission and goal to create 100,000 mentorships by the end of 2020, visit http://www.mentorcollective.org.
About Mentor Collective
Mentor Collective partners with universities to drive success for all students during and after college. Based on research that mentorship is essential to successful student outcomes, Mentor Collective helps universities activate intentional relationships between their students, alumni, and employer communities. Mentor Collective's proven process and technology platform are being used by more than 60 colleges nationwide. For more information, visit http://www.mentorcollective.org or connect with us on LinkedIn.
About Lumina Foundation
Lumina Foundation is an independent, private foundation in Indianapolis that is committed to making opportunities for learning beyond high school available to all. Lumina envisions a system that is easy to navigate, delivers fair results, and meets the nation's need for talent through a broad range of credentials. Lumina is among the nation's top 100 private foundations with an endowment in excess of $1 billion. For more information, visit http://www.luminafoundation.org.
Media Contact
Sidra Tareen, Mentor Collective, sidra@mentorcollective.org
SOURCE Mentor Collective
