Alumni Outreach Software Startup Graduway raises $12.7 million

London-headquartered startup Graduway, which offers software to help universities maintain their alumni networks, has raised $12.7 million from Susquehanna Growth Equity, LLC, a venture capital firm with offices in Pennsylvania and Israel, the startup announced Wednesday. The investment brings Graduway’s total equity funding to $20 million.

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Previous investors in Graduway include Israeli private investor Gigi Levy-Weiss, London-headquartered Massa Innovations, and Cincinnati, Ohio-headquartered SaaS Capital. In addition to its offices London, Graduway, which is officially registered under the corporate name Headhunter Systems Ltd., has employees in Israel and the U.S.

More than 500 universities, educational institutions, and nonprofit organizations, including UCLA, Johns Hopkins University, and the University of Oxford use Graduway’s software to manage communications with and among alumni, according to the company.

Graduway said the new investment would allow the company to improve its product, expand its office in U.S. office and hire additional employees.

“This new growth funding will enable Graduway to accelerate our clear strategy of developing cutting-edge alumni software and deepening our relationships with customers, increasing our market share and reaching new markets and geographies,” said Graduway founder and CEO Daniel Cohen in a statement.

Susquehanna Growth Equity is owned by the investment firm Susquehanna International Group, LLP.