RALEIGH — Element451, the Raleigh-based Higher Ed customer resource management [CRM] solution provider, has raised $2 million in new funding, according to a filing with the SEC.
The filing discloses the full amount is from a single investor who was not identified.
The company, started in 2018, offers tools for student engagement, fueled by artificial intelligence and aimed at achieving enrollment goals. Earlier this year the company announced the Bolt Copilot and BoltBot, which utilize OpenAI services. The Bolt Copilot seeks to generate and improve content on the platform; the BoltBot is a 24/7 conversational tool available to students via SMS and web messenger channels.
Recently the startup announced the hiring of Brandon Hurter as Chief Marketing Officer to help advance AI-based growth. Hurter was previously the Vice President of Product / Industry Marketing and Customer Advocacy at Egnyte, a platform for cloud content collaboration and data governance.
According to that press release, Element451 has doubled both revenue and customer count for the last three years.
“This is a pivotal moment for Element451,” Ardis Kadiu, the Founder and CEO of Element451 said in the press release. “Our technology is already transforming how institutions approach the full student lifecycle, and with Brandon on board, we are poised to accelerate our growth and deepen our impact.”
Element451 had a significant influx of cash last October with a $3.5 million round of funding. In total, the company has raised nearly $9 million in equity since 2019.