Singapore-based EdTech firm Cialfo has further raised US$20 million in its Series B extension round led by the US-based investment firm Tiger Global.
This funding follows after January’s fundraise of US$40 million from Square Peg and SEEK Investments. It brings the total funding raised to US$77 million including the initial US$15 million in Series A funding in 2021.
Cialfo will be using the fresh funds to achieve its mission by increasing the investment in strategic initiatives and markets, comprising special scholarships for students in its global community.
Cialfo had initially targeted US$20 million in Series B round, however, the team managed to triple the figure as demand for international student mobility and virtual college student increased during the pandemic.
“We are very excited to receive continued backing from the global investor community and we are grateful to Tiger Global for extending our Series B. Our full focus remains on evolving in a way that positively impacts our students, schools, and ultimately, society, with speed and at scale. This funding will help us to do just that. It naturally also will allow us to invest in continuous product development so we can deliver even more personalized and practical support to our community of students, counselors and universities. Importantly, growing our operations in critical markets, and expanding our 360 offerings to include scholarships, are among the ways we plan to capitalize on this infusion of capital, and give more back in return,” said Cialfo Chief Executive Officer and Co-Founder Rohan Pasari.
Founded in 2017 by Stanley Chia, Rohan Pasari, and William Hund, Cialfo connects more than 250,000 high school students, their counselors, and families with more than 1000 colleges.
The company offers transformative technologies, tools and thinking to students and schools from K12 to universities to help them easily manage and meet the career exploration and college application process to make educated decisions about their future.
Cialfo has a team of 200 people who work from headquarters in Singapore and local offices in India, China, and the United States, as well as nine other remote locations.
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