Niche Growth Accelerates, Subscription Revenue Grows 200%, and Announces Tim Armstrong as Strategic Investor & Advisor
February 7, 2019 — PITTSBURGH — Niche, the leading platform for choosing schools, neighborhoods, and companies, today announces that it has added a $2 million investment to its Series B financing, bringing the total Series B proceeds to $8.6M. This investment comes from Tim Armstrong, CEO & Founder of the dtx company, and former CEO of AOL/Yahoo/Oath and President of the Americas at Google, who will serve as an advisor to the company. Armstrong joins Allen & Company and Grit Capital Partners as lead investors in Niche’s B round.
“As Millennials move into parenthood and Gen Z goes off to college, the decision making process around how and why we choose schools, neighborhoods, and workplaces is dramatically changing,” says Armstrong. “Niche’s platform is ahead of this shift, empowering consumers with greater insight and helping schools thrive in an environment of increased competition.”
Last year, Niche helped more than 60 million people choose their school or neighborhood and expanded its enrollment platform for K-12 schools and colleges. Sales for Niche’s subscription recruiting platform grew 200% in 2018, and the company now helps more than 800 client schools find best-fit students.
While Niche is growing across a broad swath of the market, the company has seen its greatest success helping schools most impacted by this changing landscape. In just three years, Niche counts 31% of all U.S. boarding schools and 18% of all liberal arts colleges as paid subscribers.
“As the costs of education and real estate continue to rise and their returns are less clear, families are searching for more information to support their decisions,” says Luke Skurman, founder and CEO of Niche. “Every year, 92 million Americans make at least one life-defining decision that Niche supports–where to live, work, and go to school–and will make 29 of these key decisions over their lifetime. We help these people find where they belong.”
For more information about Niche, visit www.niche.com.
Niche helps people find where they belong. Every year, over 60 million people use Niche to choose the schools, jobs, and neighborhoods that are right for them. We analyze dozens of data sets and hundreds of millions of ratings and reviews to produce comprehensive rankings, report cards, and profiles for every K-12 school, college, neighborhood, and major employer in America.