Cornerstone Ventures leads $5M funding in student lifecycle platform ASL
Summary
Adventum Student Living (ASL), the parent company of UniScholars, UniCreds and UniAcco, has raised $5 million in a bridge equity funding round led by Cornerstone Ventures, with participation from existing investors.The funding will support ASLs plans to raise a Series B round of $20 million. The company will use the capital to expand its product offerings to support students, universities, educators, and administrators in key geographies of the UK, EU, Canada, Australia, and the US. "Its (ASLs) hyper-personalised approach ensures that a student remains on the platform throughout its educational journey of 4-5 years and potentially expands into their early career as well," said Vatsal Bavishi, Investment Director, Cornerstone Ventures, adding, "Its enterprise pricing model, recurring revenues and profitable unit economics excited us to be a part of their journey!According to ASL, the international student education market is estimated at $200 billion, primarily dominated by tuition fees (~40%) and accommodation (~25%) as the largest categories. The three brands of ASL make an international students journey seamless by providing them with a one-stop solution for all their study-abroad needs. The study abroad journey for students commences with UniScholars, a platform for test prep, counselling, university applications, course shortlisting, and visa assistance through 100+ expert counsellors.
