Mentor Collective raised $21 million during its Series A funding round led by Resolve Growth Partners and Lumina Foundation. Key activities included building the pro forma financial model associated with the raise and meeting with key investors. Exbo Group provided financial diligence support to Mentor Collective on this round.

This new financing will be used to develop new products, services and training methods that will continue to support mentorship in higher education.

Jackson Boyar, the Co-Founder and CEO of Mentor Collective, said, “The United States increasingly lags behind the developed world in economic mobility, and higher education must play a role in close the gap.” The company’s platform provides institutions of higher education with the tools and support they need to create strong mentorship programs that focus on improving opportunities for underserved student populations.