US company acquires Latvia's Funderful

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Ruffalo Noel Levitz, a US higher education company, has bought Latvia's Funderful for an undisclosed amount, Funderful founder and CEO Raimonds Kulbergs told the press February 8.

Funderful uses AI to enable university students and alumni to trigger conversations on social media and campus websites, bringing students and donors closer to enrolling at a college or making a donation.

According to the company, alumni have donated more than $4 million through the platform over the past four years. Funderful has been working with institutions such as the Oxford, Cambridge colleges, London Business School, U.S. Military Academy at West Point, Georgetown, and UC Berkeley among others.

"It is exciting to see that our solution has already brought millions of dollars in donations to universities, and together with Ruffalo Noel Levitz, it has the potential to make a profound impact on the US university advancement and enrollment markets," said Kulbergs.

"Adding the capabilities of Funderful and AI chat to RNL's broad range of omnichannel services will be a tremendous benefit for the colleges and universities RNL serves. It will allow us to help institutions modernize the communication experience between staff and prospective students, current students, alumni, and donors," said Sumit Nijhawan, head of Ruffalo Noel Levitz. 

Funderful was founded in 2014 and has attracted over $1m in investments to date. 

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