StudentCrowd Raises £2.55m in Series A Financing
StudentCrowd, announced today it has secured £2.55m of funding from its Series A round led by PwC Raise Ventures and the MEIF Proof of Concept & Early Stage Fund (managed by Mercia Ventures).
This new investment will enable the company to expand its operations, cover a wider range of student decision-making areas, alongside enhancing data and related insights to the higher education sector.
Paul Humphreys, CEO of StudentCrowd, said:
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. 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 Rafael 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.
StudentCrowd embarked on a mission to alleviate the many challenges faced by prospective students when comparing their higher education options. The platform's initial launch was facilitated by private investments totalling over £600,000, last raising funds in 2019.
Over 1.7 million students used StudentCrowd in 2022, of which around 30% are international. Users are drawn to the platform to read verified reviews written by current students and replied to by universities and accommodation providers. Reviews have become a critical component of student decision-making: according to a UCAS survey, 77% of students see peer reviews as an important part of their higher education decision-making framework.
From the perspective of higher education service providers, StudentCrowd offers effective customer service management, such as replying to reviews and enhanced product marketing by tapping into millions of unique student users. StudentCrowd also collects data on student decision-making, providing insights and giving accommodation providers the ability to price according to supply and demand dynamics and make changes as necessary. This approach improves student satisfaction rates and helps to create trust and transparency.
Rafael Joseph of Mercia Ventures added:
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.
