“The realization that universities need to digitally connect their student recruitment efforts has driven a more than doubling of institution partnerships on the Adventus.io marketplace over the last 12 months to more than 1,000 institutions today,” said Ryan Trainor, co-founder of the startup business. “Although universities are signing up to Adventus.io all over the world, more than 40% of new University partnerships are coming from the US.”
Funding for Adventus.io was led by venture capital firm Our Innovation Fund. Investors Kin Group USA, NCN Investments, and 333 Capital also participated in the financing round for the startup company. Additionally, the four co-founders of the startup business provided their own support during the round.
Including the latest $8.5 million raised, Adventus.io closed the Series A round with $17.5 million in new capital to further the global expansion of its company. The startup business seeks to grow from 12 countries of operation to 30, in addition to doubling its team.
Matching the Right Student to the Right Course
Founded in 2018 by Trainor and entrepreneurs Lincoln Trainor, Victor Rajeevan, and Richard Uren, Adventus.io allows recruitment agents to manage all of their students’ information in one convenient platform and monitor the application process from start to finish. For institutions, the platform allows schools to connect with vetted recruitment agents across the globe.
The startup company allows recruiters to maintain 100% of the commission for successfully placing students. Furthermore, the platform designed by the startup company lets recruiters search from a database of courses offered by partnered institutions to provide customized suggestions for students. Recruiting agents can also provide students with information regarding available scholarships. The startup plans to add a feature that helps recruiters determine how likely their student is to receive a visa.
“Since day one, Ryan and the Adventus.io team have impressed us – to scale to 200 people within 12 months of formally launching is impressive and shows us they can effectively execute their growth ambitions,” said Jerry Stesel, founding partner at Our Innovation Fund. “The product is clearly resonating with students and universities, especially in the US which really excites us.”
Investing in the Recruitment Software Business
Adventus.io is targeting an expanding market with its recruitment platform. Market research projects the global recruitment software market reach over $3 billion by 2025 at a CAGR of 7.4%. As educational institutions seek to bolter recruitment efforts digitally in the wake of the global pandemic, the startup company aims to expand its reach in the market.
About the Author
James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.