The finest higher education strives to be less exclusive and more open to people from all walks of life. Today, a firm by the name of Ocelot announced a significant amount of investment to create further tools to aid in that endeavor.
The company, which offers an AI-based platform to make it easier for universities and their students to communicate about applications for financial aid and other services, has raised $117 million. With this money, it will expand its products, which are already being used by close to 500 colleges and universities and about 8 million students, and which have seen 12 million questions asked and answered through them in the past year alone.
The only investor in this round, which is the first time Ocelot has ever received outside the capital, is K1 Investment Management, a well-known brand in later-stage SaaS investments. The Boulder, Colorado-based firm was entirely bootstrapped before this, and as a result, it was profitable right away. It is keeping quiet about both its value and the deal’s other financial details.
Ocelot’s scholastic achievement is accompanied by a stronger increase in customer interaction in the wider commercial sector.
The engagement has evolved into one of the most important metrics in our digital world since it’s all too easy for people to slack off or entirely tune out when an online or digital experience is either too busy, too complex, or they just get too sidetracked by something else. Engagement measurement and improvement have become two of the most crucial ways for businesses to judge how well a plan is working.
Similar to this, there is an opportunity for solutions that will make services easier to use as more and more services become digital.
