Ocelot, a Boulder, Colorado-based edtech AI communications and student engagement platform, announced that it raised $117 million from leading B2B software investment firm K1 Investment Management.
The company was previously bootstrapped, with the K1 investment representing Ocelot’s first outside funding.
Funds will be used to fuel growth, build additional functionality within existing products, and develop new solutions for colleges and universities.
Talin Andonians, CEO of Ocelot, sees the investment as key to Ocelot’s mission to “make a better life more accessible” and resolve pain points for higher education institutions.
“Colleges and universities are competing with so many other daily distractions to capture students’ attention and foster their engagement in order to meet enrollment and graduation targets,” said Andonians. “Ocelot was built as a one-stop platform for higher education institutions to alleviate communication barriers. The investment from K1 will enable us to continue bridging the communication gaps between schools and their most important clientele—their students.”
Ocelot serves nearly 500 colleges and universities in 47 states. In the last 12 months alone, Ocelot has answered over 12 million user questions, demonstrating the sort of engagement from students that schools need.
Company: OCELOT
Raised: $117.0M
Round: Unknown
Funding Month: September 2022
Lead Investors: K1 Investment Management
Additional Investors:
Company Website: https://www.ocelotbot.com/
Software Category: AI communications and student engagement platform
About the Company: Founded in 2003, Ocelot is higher education’s most-deployed and fastest-growing multi-tenant AI-powered student communication platform, providing over 7 million students at 500 institutions with 24/7 virtual engagement. The Ocelot SaaS Platform includes 2-way AI-backed SMS text campaigns for student outreach, an AI chatbot and live chat for student support, and an unrivaled and fully compliant knowledgebase of content—including thousands of video explainers and text Q&A. The Ocelot platform guides students through all aspects of the student lifecycle, including admissions, financial aid, and student advising. The Ocelot platform enables student service departments to provide personalized virtual advising and support and meet enrollment, retention, engagement goals, and access and equity initiatives.
Source: https://k1im.com/ocelot-secures-117m-investment-to-increase-engagement-between-universities-and-students/