Xello, a programme that helps K12 students prepare for college and careers, has secured a follow-on investment round from the Canadian Business Growth Fund (CBGF). Xello received an initial minority equity investment from CBGF last May.
Toronto-based Xello stated it will use the funding to invest in sales and marketing, new partnerships, and enhanced programme capabilities.
Xello co-founder and chief executive Matt McQuillen said: “This additional funding will help us increase top-line growth and fully recognise our goal to help make every student, regardless of background, ability, or pathway, future-ready.”
CBGF chief executive George Rossolatos added: “We believe that Matt McQuillen and his team will be able to accelerate their plans with this additional capital, and be positioned to accelerate their offering in a post-pandemic world. Over nine million students and educators use Xello, and the company continues to grow.
Xello said last year it added new strategic partners, K12 district customers, and add-on revenue streams.
Date published: 4 March 2021