Zinch, an online social network that helps young people apply to schools, internships or jobs, has raised an undisclosed amount of VC funding from New World Ventures.
New World Ventures is pleased to announce its investment in Zinch, an online social network connecting young people with opportunities.
Zinch enables young people to create their first professional profile, complete with a personal web address for inclusion in applications to schools, internships or jobs. Over 2 million students have created Zinch profiles to showcase themselves and be matched to colleges, universities and graduate schools as well as to over $2 billion in scholarships. Over 750 institutions including Dartmouth College, Drexel University and Rice University recruit students on Zinch.
“Zinch empowers students in the admissions process while helping them navigate scholarships, financial aid and internships,” said Anne Dwane, Zinch CEO. Zinch’s easy to use website and proprietary matching engine has been designed to help students find and interact with under-graduate and graduate colleges and universities through a social media platform.
“We are at an inflection point in higher education, and Zinch has demonstrated it can solve a significant problem for potential students and the institutions that wish to enroll them by reducing friction within the admissions process and by providing students with greater access to financial resources,” said Chris Girgenti, Managing Partner of New World Ventures and a new addition to the Zinch board of directors.
While media habits are rapidly migrating online and toward social media, student recruitment budgets remain skewed toward direct mail and traditional media. Even though college and advanced degrees have never been more in demand, adverse economic conditions have made paying for school tougher on students and families, and have forced educational institutions to seek efficient alternatives to traditional recruiting and retention initiatives.
Zinch will apply this round of funding to accelerate product development to better serve students, parents and educational institutions.
Zinch extends New World Ventures track record of investing in the technology leaders within the education sector including successfully companies such as eCollege, the leading LMS (learning management system) for online programs purchased by Pearson PLC in 2007, and TopSchool, the leading SaaS SLM (student lifecycle management) provider.