ImpactAlpha, July 14 – Santiago-based uPlanner built its software to help Latin American universities improve operational efficiency and reduce student attrition. The artificial intelligence-driven software is now also being used to help higher education institutions in build curriculums online.
uPlanner serves 200 campuses with 2.5 million students, 80% of whom are from low-income and underserved backgrounds.
Acumen Latam Impact Ventures, or ALIVE, supported a bridge funding round for the company. ALIVE’s Virgilio Barco cited the “accelerated digitalization that education institutions are facing as a result of the COVID-19 pandemic,” as a reason for its investment.
A spokesperson for ALIVE told ImpactAlpha that uPlanner experienced such increased demand during COVID that it needed bridge funding to support expansion but decided to “postpone a large round for when it has achieved further growth and can get better terms.”
Terms of the round were not disclosed.