Cialfo, a Singapore-based edutech startup, has raised $20 million in a Series B extension sponsored by Tiger Global.
The development comes after Square Peg and Australia’s SEEK Investments announced a $40 million funding round in January.
Cialfo has now secured a total of $77 million in investment, including the original US $15 million in Series A fundraising in February 2021.
The company wants to spend more in strategic markets and programmes, such as unique scholarships for students in its worldwide network.
Cialfo, founded in 2017 by CEO Rohan Pasari (India), Stanley Chia (Singapore), and William Hund (Australia), empowers students and schools from K12 to university level in their career exploration and college search and selection processes.
Over 250,000 high school students, counsellors, and families use its platform to connect with over 1,000 universities in 50 nations.
The company employs around 170 people across Singapore, India, the United States, and China.
The worldwide edutech sector is undergoing a digital transition, according to Research and Markets, with a forecasted rise of up to 130 percent by 2027, which is expected to benefit individuals from all socioeconomic and geographic origins.
CEO Pasari said, “It [the funding] naturally also will allow us to invest in continuous product development so we can deliver even more personalised and practical support to our community of students, counsellors and universities. Importantly, growing our operations in critical markets, and expanding our 360 offerings to include scholarships, are among the ways we plan to capitalise on this infusion of capital and give more back in return.”
