Singapore-based EdTech firm Cialfo has raised US$40 million funding in Series B funding round led by global investment firm Square Peg, and Australia-based SEEK Investments. The round was also joined by existing investors, including Vulcan Capital, SIG Global, January Capital DLF Venture, and Lim Teck Lee.
The latest funding brings the total raised, to date, to US$55 million, including US$15 million in Series A round in February 2021. The investment in Cialfo’s platform reinforces the importance of the international higher education space. According to Education Data, it is expected to rise more than 7 million students by 2030 and increase in total market value from US$280 billion to US$400 billion.
Cialfo will be using the fresh funding to grow its user base and advance its product features for high school students, their families, counsellors, and universities. Among its product enhancements for 2022 is Direct Apply, a tool that will allow students and counselors to apply, track and send documents seamlessly to hundreds of programmes around the world.
Chief executive and co-founder Rohan Pasari said the fresh funds raised will allow Cialfo to examine potential acquisitions and expand its offerings.
The funding will also help enhance Cialfo’s 360 career exploration and college application offerings in direct response to feedback from educators worldwide.
Founded in 2017 by Rohan Pansari, William Hund, Stanley Chia DingLi, Cialfo is an artificial intelligence-driven solution that brings together people, software, and data to simplify college and career counselling workflows.
Cialfo presently connects high school students their families and counsellors with more than 1000 colleges and has achieved a trusted partner status with globally-recognized universities such as Imperial College London in the UK, Spain’s IE University, and The University of Chicago in the US.
The company is on a mission to make higher education accessible to 100 million students by 2025. Cialfo has its offices in Singapore, Washington DC, New Delhi, and Shanghai.