Higher Education Startup Arbol Secures $450,000 in Funding to Address Retention Challenges

David Gonzalez

David Gonzalez, co-founder and CEO of Arbol, during a meeting of the Founders Go Big program at Launch NY. “This is a dynamic time at Arbol, as we prepare to unveil the first version of our software platform, launch with a growing list of colleges and add new members to our team,” he said. (

Buffalo-based startup Arbol has secured $100,000 from the Western New York Impact Investment Fund as part of its ongoing funding round to address the retention issue in higher education. The pre-seed round has so far raised $350,000, bringing Arbol’s total funding support to at least $450,000. The University at Buffalo also invested $250,000 through its Buffalo Innovation Seed Fund, following a previous investment of $100,000. Arbol, led by co-founders David Gonzalez and Favio Osorio, plans to launch its software with four local colleges this summer and expand beyond Western New York in 2024. The startup’s platform enables students to monitor their financial trajectory, while providing colleges with a dashboard to identify at-risk students facing financial challenges. Arbol aims to improve the dropout rates among low- to middle-income students, with over 2 million currently enrolled in U.S. colleges. The company’s client, Buffalo State Foundation, plans to introduce the platform to hundreds of incoming students through grant funding. Arbol’s innovative approach addresses a long-standing problem in higher education, and the startup is well-positioned for growth and impact in the coming years.

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