Jon has identified a gigantic hole in high school college counseling and is plugging it with AI.You have read interviews with the entrepreneurs behind Empowerly and Prepory, companies going after the same problem, but with more manual solutions. College Guidance Network is doing so with AI.
Sramana Mitra: Is each instructor doing this individually, or have you built AI into your training and systems? Karyn Koven: Absolutely. Over the past year, we’ve been developing our own platform that integrates all these AI and tech features. It includes scheduling, curriculum customization, evaluation tools, and more. The goal is to bring everything into
Sramana Mitra: What kind of numbers are we talking about as we go beyond 2015? How many numbers of students, how many instructors, how was the business unfolding?
Sramana Mitra: And what were the numbers? 10 people in the beginning, and then how did that grow?
Karyn has built a technology-enabled business that is already over $5M in revenue and sits at the cusp of a tremendous scaling opportunity by leveraging AI. If you are mulling AI startup ideas, this kind of tech-enabled service that is fully optimized with AI could create tremendous value.
Sramana Mitra: Online’s fine. I’m not necessarily thinking that you’re already on AI in 2016–17, because that’s definitely not the time when AI was as pervasive as it is today. So, let’s go back to 2016–17. Tell me more about how the business was progressing. How many schools were you catering to in 2016–17? How
Sramana Mitra: Okay. Let’s go back to this point where you have three high schools that you’re working with to validate your business model. How much were they willing to pay you?
This story is a great example of an EdTech company that has built a validated, bootstrapped, profitable business that can potentially be scaled using AI.