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AdmitHub raises $14 million for AI-powered education-focused chatbots

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Boston, Massachusetts-based AdmitHub, a startup developing a chatbot platform aimed at boosting student enrollment and graduation rates, today revealed it has raised $14 million in a series B round led by Rethink Education. The company, which also announced it will be rebranding as Mainstay, plans to put the funds toward expanding its workforce and acquiring new education customers.

The percentage of school dropouts among 16- to 24-year-olds has shown decreases over the past 20 years. However, in the U.S., the overall graduation rate has also declined. Four-year institutions average a 60.4% graduation rate, while two-year institutions offering associate’s degrees average a 31.6% graduation rate. Owing to the pandemic, in fall 2020 college enrollments dipped by an estimated