Need a mentor? Dyad has you covered, and it just got funded by 500 Startups

Image credit: Grant.

ChaseFuture started as an essay-editing company in a Cambridge dorm back in 2012. By 2014, it had moved to Shanghai and pulled in US$400,000 worth of VC funding from Banyan Partners, AngelVest, and others.

Today, it announced a US$600,000 investment round to expand its Asia operations.

The round was led by 500 Durians (the Southeast Asia-focused branch of 500 Startups) and SOSV (formerly SOS Ventures). SOSV investment partner William Bao Bean is on the startup’s board, and was also an investor in its previous round of fundraising. A “NASDAQ-listed education company” also joined the round, but its name was not made public.

The funding is more than just some money in the bank – it’s a rebrand for ChaseFuture, which has relaunched as Dyad.

While the company’s previous iteration focused primarily on counselling for college admissions and pulled its clients mostly from China, the rebrand dubs itself a “mentorship company,” has a wider geographical focus, and expands its scope beyond university applications.

Standing out from the competition

“The long term vision for Dyad is that we want to be with you from age 14 to 25,” founder and CEO Greg Nance tells Tech in Asia. “So many decisions take place in that time.”

The company made a name for itself by offering college admissions guidance for Chinese students looking to study abroad. That’s a big, crowded field, but Dyad (then ChaseFuture) managed to make itself stand out with clever online marketing and a focus on China’s middle class.

“There’s a section of students who want a full concierge, white-gloved ‘write everything for me’ style – that’s not our target,” says Greg. “We are 100 percent academically honest and open about the work we do, which is actually a huge competitive differentiator.”

In China, it’s uncomfortably common how many so-called college admissions companies are simply essay mills, churning out applications with little to no input from the student who is “applying” – and charging a hefty price for the service.

Dyad steered away from the black market towards a multi-year, mentorship-based model. Instead of pumping out application essays a month before the deadline, Dyad works with students for months or even years, getting them prepared for the college application process.

Dyad has raked in 135 Ivy League admissions for its students.

“We prefer to have two to three years to work with a student,” Greg says. Dyad banks on the idea of reaching students early – when they’re as young as 14 – and building their skills over time.

So far, it’s a strategy that has paid off. In the few short years that it’s been active, Dyad has raked in 135 Ivy League admissions for its students, US$1.2 million in university scholarships, and even saw one of its clients join China’s inaugural batch of Rhodes Scholars.

Time for an upgrade