Ocelot secures investment Student Engagement Platform Raises Funds to Meet Growing Demand
Ocelot, the leading edtech AI student engagement and communication platform, today announced that it has raised $117 million from K1 Investment Management, a leading B2B software investment firm. The company was pre-started, with the K1 investment representing Ocelot secures investment first external financing. Funds from the investment will be used to drive growth, build additional functionality into existing products and develop new solutions for universities.
Higher education is facing significant headwinds, with institutions struggling with enrollment, budgeting and student retention challenges. Lack of engagement and communication is a recurring theme among these critical issues, according to students and universities. Ocelot provides universities with a unified engagement platform that easily integrates with existing technologies to provide students, staff, faculty and administrators with a seamless communication experience.
For first-generation students in particular, these issues can have a significant impact on the outcome of their university experience. According to an EBA survey, 33% of first generation students drop out of school within 3 years, compared to just 14% of continuing generation students. By providing technology infrastructure for higher education that empowers engagement and better communications, Ocelot is on a mission to bridge generational gaps and improve the student experience for all.
Talin Andonians, CEO of Ocelot, sees the investment as key to Ocelot’s mission to “make a better life more affordable” and address the pain points of higher education institutions.
“Colleges and universities are competing with so many other daily distractions to capture students’ attention and drive their engagement to achieve enrollment and graduation goals,” said Andonians. “Ocelot was built as a complete platform for higher education institutions to alleviate communication barriers. K1’s investment will allow us to continue to bridge the communication gaps between schools and their most important clientele – their students.”
Brian Beard, Vice President of K1, is excited to partner with the Ocelot team and create a category leader in the edtech industry. According to K1, more than 26% of its own employees are first-generation graduates, in line with Ocelot’s mission to make a better and more accessible life for everyone.
“The Ocelot platform is critical to improving student retention and enabling successful outcomes for students and universities,” said Beard. “Helping both parties stay intimately connected provides clarity and consistency to a complex and confusing student experience. We are excited to partner with Ocelot to support their continued growth as the company revolutionizes student engagement and communications.”
Ocelot serves over 500 universities in 47 states. In the last 12 months alone, Ocelot has responded to over 12 million user questions, demonstrating the kind of student engagement universities need.
“Communication is a big issue for universities and an investment of this size will help Ocelot solve this problem at scale,” says Andonians. “Ocelot and K1 strongly believe in the promise of higher education to unlock better futures for our students and our country. Ocelot provides best-in-class solutions to help make this ideal a reality.”