Melbourne-headquartered Adventus.io, a college student recruitment platform, has raised an additional US$8.5 million to close a US$17.5 million Series A financing round led by Australian venture capital firm Our Innovation Fund LP.
Significant investments were received from NCN Investments and Kin Group USA which join existing lead investor 333 Capital and the company’s founders Ryan Trainor, Lincoln Trainor, Victor Rajeevan and Richard Uren.
Adventus.io’s SaaS-based platform connects international students globally to tertiary education institutions in all major study destinations. Since its formal market launch less than 12 months ago, Adventus.io’s two-sided marketplace has experienced rapid adoption by more than 2,800 recruitment agents operating in eight source countries, with this number on track to reach more than 6,000 agents subscribed to the marketplace by the end of the year.
Adventus.io stated the capital injection positions it accelerate its global expansion, especially in the US. It aims to grow from 12 to 30 countries and double its headcount to more than 400 over the next 12 months, facilitating applications from more than 25,000 students this year and is targeting five-times growth by next year.
Ryan Trainor said: “The realisation 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. Although universities are signing up to Adventus.io all over the world, more than 40% of new university partnerships are coming from the US.
“The Adventus.io marketplace ultimately ensures we have globally democratised access for students to make fully informed decisions and enrol at the university that best suits their personal needs and ambitions.”
Jerry Stesel, founding partner at Our Innovation Fund, LP added: “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. The product is clearly resonating with students and universities, especially in the US which really excites us. We have a strong track record supporting companies’ US expansion, connecting them with customers and investors through our deep US network. By leading this round, we’re focused on being an integral and value-adding partner for the Adventus.io team to rapidly accelerate their growth from here”.
Since 2018, the company has raised more than US$17.5 million.
Date published: 27 April 2021