Singapore-based education start-up Cialfo has extended its Series A funding round to $15 million.
The extended round was co-led by SIG and Vulcan Capital and saw participation from new investors January Capital and Bisk Ventures, as well as existing investors DLF Venture, Alto Partners Multi-Family Office and Immobillari.
Cialfo, which operates in the student recruitment space and whose revenues have grown at over 200% annually, will use capital from the latest fundraise to drive data science- and artificial intelligence-based product innovation, and expand its presence in India, China and Southeast Asia.
Launched in 2017, Cialfo’s suite of digital products includes AI-powered college search and application management tools, allowing prospective international students to connect directly with thousands of higher education institutions across the world.
The company said that the Covid-19 pandemic, which has brought global travel practically to a standstill and upended education provision, has “reinforced the importance of our mission” to make education accessible to 100 million students.
“A standstill on global travel has upended education entirely – forcing high schools and universities to engage current and potential students virtually. The adoption of technology-driven education solutions is rising at an unprecedented rate and we have a key role to play in accelerating the student recruitment process from physical to virtual channels,” said Rohan Pasari, Cialfo’s chief executive and co-founder.
Cialfo began building relationships with higher education institutions only last year, and in the space of nine months secured 650 new partners, including Cambridge and Oxford universities.
Date published: 5 February 2021