With federal funding for universities in a nose dive, Almabase wants to step in to be the one-stop-shop for alumni associations looking to build rapport with alumni — and ultimately raise money. Founders Sri Maneru and Kalyan Varma noticed that donation rates were considerably higher for charities than universities and figured that if they could move the needle even a little, the quality of higher education could see improvements.
Today, colleges often use Facebook groups and other manual systems to organize alumni, but they’re rarely comprehensive. Instead, Almabase combines career services, event planning, mentorship, networking and donations into a single service. Some schools that have tested the system have seen close to a 5X increase in donations — of course, it’s important to remember that some schools do have robust systems in place to manage their networks, but not everyone shares the same resources.