ChaseFuture, a Shanghai-based startup that offers college and grad school applicants personalized admissions consulting, raised a $400k Seed Round from Banyan Partners, Harbor Pacific Capital, William Bao Bean of SingTel Innov8 and Shanghai’s AngelVest consortium.
The funding will be used to expand the service into India, Turkey, Egypt, and Russia and to localize the video library in Arabic.
Founded in 2012 ChaseFuture matches high school students who want to admit to Western universities with mentors and admission experts located in the US and the UK. The site also offers related products like guides and videos that help students with their admissions’ essays, choosing the right schools and polishing their resumes.
A large part of the site can be accessed for free. Students or parents who want to have a more personalized and intensive service can sign up for premium services, ranging from $300 to $5000 per year. According to TechCrunch, ChaseFuture has about 1000 paying clients and already helped students to be accepted into Columbia University, USC, Imperial College London and LSE.
According to Greg Nance, co-founder and CEO at ChaseFuture, admission counseling in China is often very shady with people using Baidu to gather information and then presenting themselves as admission experts.
“There’s a huge trust gap in admissions in China because there are so many fraudulent providers. […] Me and my co-founder are just two Cambridge guys that came to China, but we were able to really present ourselves as knowledgeable, to the point where people understand how we stand out, pay for our services, and tell their friends about us.”
Nance told Tech in Asia.
College admissions is a vertical that is being tackled by startups and big brands alike but proves to be tricky. In the past we covered Acceptly, which had raised a $500k Seed Round from Learn Capital but eventually shut down, Inigral (now Uversity) which helps colleges and universities to attract potential students and LinkedIn University Pages of which we have not heard that much anymore after its launch in August 2013.
On the other hand, Parchment just launched a new feature called College Match that uses user data to personalize the application process and discover the colleges most appropriate to them.
- This startup hopes to wipe out China’s shoddy admissions counselors, and it just netted $400K in funding | Tech In Asia
- Shanghai-Based ChaseFuture Raises A $400K Round To Ease University Admissions For International Students | TechCrunch
- Chasefuture’s Platform Coaches Mainland Chinese Students On University Admissions | TechCrunch
- HEDLINE: Parchment College Match offers Personalized Applications | EDUKWEST
- Acceptly raised $500k Seed Round led by Learn Capital | EDUKWEST
- Inigral is now Uversity – Wants to free itself from Facebook | EDUKWEST
- LinkedIn University Pages – Are Internships next on the Feature List? | EDUKWEST