Singapore-based EdTech firm, Cialfo receives $40M in funding sponsored by Square Peg and SEEK

Cialfo has raised $55 million to far, the most recent of which is from a $15 million Series A funding round in February 2021.

Source: Google Images

Main Highlights:

Applying to colleges is one of the most challenging aspects of high school, especially for those interested in studying abroad. Cialfo’s goal is to simplify the process by providing a platform that includes school research, communication tools for counselors and students, and Direct Apply, enabling international students to search for and apply to hundreds of programs using a single application form. Square Peg and SEEK Investments led the $40 million Series B investment round for the Singapore-based edtech.

Cialfo has already raised $55 million, including a $15 million Series A announced in February 2021. The round also included returning investors SIG Global, Vulcan Capital, DLF Ventures, January Capital, and Lim Teck Lee. The firm presently employs over 170 people throughout Singapore, India, the United States, and China and collaborates with about 1,000 colleges worldwide, including Imperial College London, the University of Chicago, and Spain’s IE University.

Pasari’s motivation to start Cialfo

Rohan Pasari, Stanley Chia, and William Hund launched Cialfo in 2017. According to the team, Pasari was motivated by his own student experiences. He was born and raised in India, and his high school lacked a career counselor. As a result, students were left to their own devices to negotiate the college application process.

Cialfo team
Source: Google Images

Pasari initially desired to attend a four-year university in the United States, but his parents could not pay the hefty foreign student fees. As a result, he applied to schools in Singapore, where he was awarded a full scholarship to Nanyang Technological University (NTU). Before graduation, Pasari assisted his sister and several friends with the college application process, which inspired him to start his firm.

Pasari first co-founded an education consulting business with Chia, which employed over 200 students at its height. However, the two desired to grow their operations through technology and therefore sold their education consulting business in 2017 and utilized the money to create Cialfo.

The business operates on a business-to-business (B2B) basis, selling subscriptions to schools. College counselors then invite students to the site, which is also accessible to parents and guardians. According to the team, their objective has always been to assist one million kids in their quest to become college-ready. They think that three pillars are necessary – access to knowledge, individualized support, and financial resources — and that by combining all three, education can be democratized.

The additional money will be used to expand Cialfo’s worldwide user base, enhance existing services, and evaluate acquisition opportunities.

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