The chief executive officer of Indianapolis-based ClearScholar believes his college engagement technology’s "very targeted" approach could potentially tap into the country’s population of 20 million students. In just over a year, ClearScholar has partnered with nearly 100 colleges and universities to make up what Jason Konesco calls a "vast pipeline." The company today upon a previously-announced $1.25 million round of funding with plans to add up to 31 jobs over the next two years.
Konesco tells Inside INdiana Business ClearScholar is currently "laser-focused" on colleges, but believes "there is absolutely a play" with high schools. The mobile platform gives colleges and universities a custom way to "build, retain and grow lifelong relationships," which Konesco believes is a way to boost some challenging national figures in the world of higher education. Those "dismal rates," he says, include a national 59 percent graduation rate over six years and a drop-out rate of around one-third before students reach a second year. Konesco says colleges concerned with the effects of engagement and outcomes on graduation rates are a key growth market, but even established schools could benefit.
CleaScholar’s first full partner was Butler University, which signed a three-year agreement in March. Konesco says early returns on the relationship have been "higher-than-expected" in terms of usage and adoption rates by students on the Indianapolis campus.