Raise.Me has raised $12 million to build college “micro-scholarship” pipeline.
Raise.Me matches colleges and universities with eligible financial aid recipients in high school. The platform lets universities allocate “micro-scholarships” to high school students as rewards for good grades or extracurricular activities.
Students can receive backing from multiple schools, though only receive the aid they “bank” from the school they attend. Some begin college with $20,000 in scholarships.
Raise.Me, which launched in 2012, works with 19,000 high school counsellors nationwide, and has helped universities like NYU, Northeastern and Georgia Tech award $1 billion in aid.
The financing was led by Redpoint Ventures and included GSV Acceleration, Owl Ventures, First Round Capital and SJF Ventures.
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Photo credit: Raise.me