[8] In 2018, Niche raised a $6.6 million (equivalent to about $8M in 2023) Series B funding round led by Allen & Company and Grit Capital Partners.

At the time of funding, Niche offered over 130,000 in-depth profiles on schools and colleges with over 140 million reviews and ratings from students, parents and alumni.

[14] Niche functions as a two-sided platform with free access for prospective students and over 15,000 school clients who pay for services to help them market to these users, including placing advertising and promotional material on the site.

Niche also offers access to its data for a cost to other parties such as real estate companies, which has raised concerns that this linkage might reinforce neighborhood disparities based on ethnicity and income.

[15] In a 2008 scandal known as "Facebookgate",[16][17] hundreds of spurious "Class of 2013" groups were created on Facebook for the purpose of promoting College Prowler.