Empowerly raises $15M to expand its college counseling services
Empowerly, an edtech startup focusing on college counseling and career guidance services, has raised $15 million in a recent funding round led by Conductive Ventures. This brings the total raised by the company to $30 million. The new capital infusion will be utilized to expand its services, enhance its AI-powered products, and develop its first mobile app, scheduled to launch in the U.S. by the end of 2024.
Co-founder Changxiao Xie emphasized the significance of the funding round amid a challenging startup ecosystem, stating that it validates the platform and services Empowerly has built. The company employs former Ivy League admissions officers and utilizes data and machine learning to enhance student outcomes from high school to college and beyond. Despite the difficult funding environment, Empowerly has seen increasing engagement from students and families, with positive outcomes year over year.
This funding round comes at a time when the college admissions process is becoming increasingly competitive, and traditional high school counselors may lack the expertise to provide comprehensive advice. The surge in college applications, as highlighted by Common App’s Research Brief, underscores the growing need for specialized college counseling services.
Empowerly, founded in 2018, aims to alleviate the intense pressure students face during the college admissions process, which has become increasingly competitive. With Ivy League acceptance rates reaching historic lows, many students lack the necessary support, given the high counselor-to-student ratio.
To address this gap, Empowerly offers personalized counseling services tailored to individual students’ needs. After a 30-minute free consultation, the company designs a customized plan that includes various services such as college counseling, essay editing, financial planning, admissions reviews, internship preparation and matching, research mentorship, and more. Students have regular meetings with counselors and can access specialists in essay writing, pre-professional mentorship, and former admissions officers from prestigious universities. Empowerly boasts a network of over 100 college counselors specializing in areas like pre-med, engineering, STEM, business, law, and humanities.
While pricing varies for each service, Empowerly’s “comprehensive counseling packages” typically start at $5,000. Reddit users have reported paying anywhere from $1,600 for 16 private essay sessions to $9,000 for unspecified services. Comparable college consulting platforms like CollegeWise charge between $2,000 and $10,000, depending on the personalized package.
