Element451 is closer to its vision of making advanced recruiting technology accessible to more colleges thanks to a $1 million seed round investment from tech venture fund Cofounders Capital.
Creators of the cloud-based customer relationship management platform say they will use the funding and strategic guidance to accelerate company growth.
The news comes at a time when colleges are struggling to find innovative ways to increase student enrollment and simultaneously cut costs. Post-secondary enrollments decreased 1.7 percent from 2018 to 2019, according to the National Student Clearinghouse Research Center. 2019 was the eighth consecutive year enrollment in the U.S. decreased.