Adventum Student Living Raises Additional $5 Million Funding The new investment will enable ASL to continue its mission of transforming the student lifecycle while expanding its product offerings to meet the needs of students, universities, educators, and administrators
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Adventum Student Living (ASL), a study-abroad platform that owns the UniAcco, UniCreds and UniScholars brands, has raised a bridge equity round $5 million led by new investor Cornerstone Ventures (CSVP Fund) and existing investors as a bridge to its proposed Series B round of $20 million. The new investment will enable ASL to continue its mission of transforming the student lifecycle while expanding its product offerings to meet the needs of students, universities, educators, and administrators. The investment will also be used to strengthen its position and build deeper partnerships in key geographies of the UK, EU, Canada, Australia, and USA.
"Despite the economic challenges brought on by COVID-19, when many of our peers were struggling for survival, our business soared through the market turbulence and achieved an impressive 300% y-o-y growth since then. We will continue to unify student journeys on our platform and strengthen our product portfolio across geographies," said Amit Singh, founder, and CEO of ASL.
The study abroad journey for students commences with UniScholars, a platform for test prep, counselling, university applications, course shortlisting and visa assistance through more than 100 expert counsellors. Followed by UniCreds, which has partnered with over 15 global lenders to provide the most affordable education loan in multiple currencies. Finally, the journey concludes with UniAcco, which helps students find an accommodation of their choice from 3.5 million+ beds across the globe, claimed by the company in a statement.
"We love the execution capability and student-first approach of the founding team. It's the only platform that has truly and successfully unified the entire student lifecycle right from application to accommodation and beyond at every step. Its enterprise pricing model, recurring revenues and profitable unit economics excited us to be a part of their journey," said Vatsal Bavishi, investment director, Cornerstone Ventures.
Founded in 2019 by Amit Singh and Sayantan Biswas, the three brands of ASL is a unified student lifecycle management platform assisting students in their application-to-accommodation journey with a digital-first approach.