PITTSBURGH, January 27, 2021 — Niche, the leading platform connecting students and families with colleges and schools, today announced 2020 as a year of remarkable growth, doubling its Annual Recurring Revenue (ARR) from 2019, a feat the company has achieved for the fourth consecutive year. Niche’s rapid growth for 2020 came on the heels of also closing its Series C funding of $35M led by Radian Capital with additional participation from Salesforce Ventures, as well as existing investors including Allen & Company LLC.
In a challenging and rapidly changing education enrollment landscape, Niche continues to experience a rise in demand for its platform from colleges and schools as they recognize the greater importance of investing digitally together with Niche’s unique ability to reach and connect with prospective students and families. For many colleges, the need was exacerbated by the decision to drop standardized testing requirements for the 2020-2021 admissions period, and in some cases permanently. At the end of 2020, over 1,700 colleges and schools have chosen Niche to deepen their relationship with students and their families.
“We are focused on becoming the #1 education platform, and our success in the past year has pushed us even closer to achieving that goal,” said CEO and founder Luke Skurman. “Now more than ever, students and their families need an easy, authentic way to research and connect with schools online. We’ve shown our ability to bridge that gap, and we’re thrilled to be in a position where we can scale the business and continue to help all our users find where they belong.”
2020 was the fourth consecutive year that Niche doubled its Annual Recurring Revenue (ARR). While the company added a significant amount of new business, existing school clients saw the impact Niche had on their enrollments by connecting them early with high- intent students, leading to a high renewal rate. With more than 50 million people using the platform in the past year — including one in every two high school seniors registering on Niche to conduct their college search — Niche has proven to be an integral resource for students, families, colleges, and schools across the country.
In addition to growing the number of client subscriptions, Niche increased the company headcount from 110 to 160 employees. With the shift to remote work during the COVID-19 pandemic, Niche now has employees in thirteen states and has made hiring a top priority in 2021 to support its continued growth.
Niche is the market leader in connecting colleges and schools with students and families. With in-depth profiles on every school and college in America, over 140 million reviews and ratings, and powerful search and data tools, Niche helps millions of students and families find and enroll in the right school for them. For schools, school districts, and communities, Niche’s platform, data, and services help thousands of schools recruit and enroll more best-fit students.