The announcement adds to the Singapore-based company’s $3m it raised in May 2019 for its US expansion.
“The Covid-19 crisis has really reinforced the importance of our mission”
New capital investment will be used to drive data science and artificial intelligence-based product innovation, as well as expand its reach to K-12 providers in India, China and South-east Asia, Cialfo said.
“Cialfo was already on a very strong growth trajectory, but the Covid-19 crisis has really reinforced the importance of our mission,” said Rohan Pasari, chief executive officer and co-founder of Cialfo.
“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.”
Cialfo offers digital solutions for college representatives and high schools to build relationships – including AI-powered college search, application management tools, and the ability to apply directly to thousands of higher learning opportunities globally.
Its Online Fairs also allow higher education institutions to host webinars and informational sessions to prospective students, in addition to direct engagement opportunities and data analytics. It has already secured more than 650 partners in the past nine months, including Cambridge, Brown, the University of Pennsylvania, and the University of Chicago in the US.
The company works with more than 1,200 K-12 schools across 90 countries.
It is also looking to cooperate with universities to help them provide open online courses and other blended learning solutions, and is “accelerating discussions” around acquiring similar firms that operate in the K-12 space, with the aim of attaining greater market share.
The extended round was co-led by SIG and Vulcan Capital, and included support from new investors January Capital and Bisk Ventures. Also participating were angel investors such as Patrick Walujo and Teik Ngan Loy, as well as returning investors DLF Venture, Alto Partners Multi-Family Office and Immobillari.